Inter Parfums' Q1 sales jump 32%
Fragrance company affirms full year guidance as sales climb to $119.4m in Q1 2010
Inter Parfums’ net sales for the quarter ended 31 March 2010 far outstripped those of a rocky first quarter last year, rising 31% to $119.4m, as compared to $90.4m. The fragrance house enjoyed strong sales in both Europe, which grew 32% to $108.3m, and the US, also up 32% to $11.1m.
The company’s brands, in particular VanCleef & Arpels, all enjoyed substantial net sales growth on the prior year quarter. “With respect to European-based operations Burberry brand sales increased 25% in local currency as compared to the corresponding period of the prior year. Also in local currency, comparable quarter Lanvin and VanCleef & Arpels sales rose 20% and 55%, respectively,” executive vp and chief financial officer, Russell Greenberg commented.
In response to this encouraging first quarter, Inter Parfums has affirmed its previously issued net sales guidance of $440m for the full year. The company also has several ambitious launches planned for 2010, including a Burberry cosmetics collection – due in July – and new fragrances for Lanvin, Paul Smith, DT Dupont, VanCleef & Arpels and Montblanc, as well as fragrances for Gap and Banana Republic in the US.