Elizabeth Arden posts Q1 results; signs fragrance deal with Taylor Swift
First quarter results jump 7.4%
Elizabeth Arden has reported net sales of $284.8m, for its first fiscal quarter, ended 30 September, 2010. The results are an increase of 7.4% on the previous year and are attributed to the continued strong momentum of the company’s international business, according to chairman, president and ceo, E Scott Beattie.
“We are pleased with the performance of our brands and the progress we are making with our global brand marketing initiatives,” commented Beattie. “Sales of Elizabeth Arden branded skin care products rose by 12% in the first quarter, and sales of our fragrance business grew by 8% overall and 17% in Europe. As we head into the holiday period, we are encouraged and expect our key brands and launches to perform well.”
In other news, Arden has announced its has signed an exclusive global licensing agreement with singer Taylor Swift for the development, marketing and distribution of fragrances and ancillary products.
Swift will be personally involved in all aspects of product development, packaging and advertising, according to Arden and the first fragrance will debut in North America next autumn.