Inter Parfums has announced its Q1 results (the three months ended 31 March 2014). Net sales of the company's ongoing brands (excluding Burberry brand sales) increased 17% to $121.7m, compared to $104.1m for the previous year period. First quarter net sales from ongoing brands increased 16%, while overall first quarter net sales declined 43% as Burberry brand sales were included in the prior year comparable period.
Discussing European-based operations, Jean Madar, Chairman & CEO of Inter Parfums noted: “New product launches were the primary catalyst for the strong start in 2014, with sales of ongoing brands increasing 19.8%. That includes signature scents for both men and women for the Karl Lagerfeld brand, which yielded more than $13m in incremental sales. Montblanc sales rose 37% as a result of steady gains from Legend fragrances along with the recent launch of Emblem, the second men's scent created for the brand. Boucheron and Van Cleef & Arpels performed well during the quarter due, in part, to increasing momentum from the 2013 introductions of Place Vendôme and Rêve, respectively. Balmain fragrances got off to a good start for the year following higher than expected initial in-store sales for the Extatic line launched in January. In last year's first quarter, Jimmy Choo brand sales rose 50% driven by the launch of Flash, which helps to explain why Jimmy Choo sales declined 25% in the current first quarter when no new products were introduced. Lanvin also had a challenging comparison to the prior year period, which benefited from the launch of Lanvin Me and the exceptional performance of Eclat d’Arpège, resulting in a reduction in sales of 16% in the first quarter of 2014. With the introduction of Lanvin Me L’Eau later in the year, Lanvin brand sales are expected to pick up.”
