Banana Republic deal drives Inter Parfums sales
higher Burberry sales, Inter Parfums has reported a 19 per cent
hike in sales, prompting it to increase its outlook for the 2006
financial year.
Total third quarter sales came in at $89.7m, compared to $75.4m in the same quarter a year ago, bringing net sale for the first nine months of the year up to $230.9, a jump of 11 per cent on the figures for 2005.
The company said that its Euro sales represented $76.1m in the third quarter, up 13 per cent on the same period last year.
"Factoring into third quarter growth were increased Burberry sales reflecting the successful launch and rollout of the Burberry London fragrance family and only a modest decline by other fragrances within the brand,"said Jean Madar, CEO.
"Also contributing to the sales growth was the debut of Lanvin Rumeur and the solid gains made by éclat d'Arpège, which has been a strong seller since its introduction in 2002."
US operations showed robust growth, with sales revenue for the quarter up 64 per cent to reach $13.6m, mainly attributable to the distribution of fragrances and personal care products to the Banana Republic retail stores, following an agreement that was signed at the end of last year.
"The final quarter of 2006 includes the launch of the men's fragrance, Paul Smith Story, followed in 2007 by women's fragrances for S.T. Dupont, Christian Lacroix and our first Roxy fragrance," Madar said.
"With regard to U.S. operations, we are very excited about the 2007 introduction of personal care products that we are developing and are producing for Gap's North American stores."
Looking ahead to the full year, the company raised its sales guidance to $305 - $306m, up from its original guidance of $301m, whereas net income guidance remains unchanged at $16.9m.
