Launches, collaborations and subsidiaries strengthen core
Inter Parfums has said it expects 2010 to be a record year based on the launch of the Burberry Beauty make-up line, the integration of the Montblanc perfumes and the setting up of subsidiaries in Singapore and New York. Results have also been boosted by strong sales growth in both volume and value terms, improved market share and an improvement in profitability. On current trends Inter says 2010 sales should reach €295m, up 14% on the previous year.
Inter said it expected a rise of more than 20% in operating profits for 2010 as well as an operating margin of over 13.5%. Philippe Santi, deputy director general, said the producers of perfumes and the suppliers had been inundated with orders across the industry. He added however that because of the cutbacks in 2009, with the closure of production lines and manufacturing facilities, producers now faced the need for new investment plans. Some were hesitating to replace facilities to match those in operation before the economic crisis.
Several new factors are likely to influence business in 2011 including the launch of Jimmy Choo, Paul Smith and Montblanc perfume lines, the opening of 30 sale outlets in major stores and new reference products for the Burberry Beauty make-up line.
Luxury Brands, the new US operation, will have swung into action in collaboration with Clarins in the American market. The forecast is for sales of some €330m to €335m in 2011, an increase of around 9% in terms of comparable company structures.