Inter Parfums revises 2011 forecast upwards
Lanvin, Burberry and Van Cleef & Arpels are star performers of 2010
The French perfumes and cosmetics group Inter Parfums has revised its 2011 sales forecast upwards after posting an 18% increase in 2010 sales to €305.7m, achieved through gains in market share and exceeding targets set earlier. Lead sectors of the business put on substantial growth in 2010 with Burberry sales rising 11% to €184.8m, Lanvin boosting sales by 31% to €53m and Van Cleef & Arpels pushing the sales up 29% to €25.9m.
Lanvin's performance in particular outpaced expectations set earlier with growth based on two established lines – Eclat d'Arpège and Jeanne Lanvin – and the launch of the Marry Me line which generated €7m. Meanwhile the integration of the Montblanc perfumes within the group from July last year also generated extra sales of around €7m.
Newly emerging markets were the main areas for improvement, with Asia region sales up 27% and the Middle East 16%. Eastern Europe reported 61% growth and Latin American sales increased by 42%. West European sales went up 14% while those in North America put on 9%.
Inter Parfums president Philippe Benacin said that given the worldwide integration in the second half of 2010 of established perfume lines under the Boucheron label, the take-off of Jimmy Choo perfumes and the good performance by the Montblanc perfumes in the second half, the company had revised its 2011 sales forecast to around €350m, up 15% over 2010.
Group operating profits for 2010 are to be confirmed but are expected to have risen by about 22% to €41m with an operating margin of 13.5%.
