Burberry fragrance drives Inter Parfums results
The company released the newest addition to the Burberry line back in December accompanied by a vigorous launch campaign which contributed to strong sales growth.
Preliminary results from the company cite net sales for the quarter of approximately $99.1m, a 20 per cent increase on 2007's $82.8m.
Favourable exchange rates have inflated the sales figure and at comparable rates the company estimates a 12 percent increase in sales.
European operations led the way according to CEO Jean Madar, with a 19 per cent increase in sales revenue bringing 2008's second quarter figure to $83.9m.
Burberry continues to lead the way
"Burberry brand sales were especially strong due to the continued rollout of the latest fragrance, Burberry The Beat and the exceptional growth and staying power of Burberry Brit, which launched in 2003," he said.
Madar also noted the continuing success of the Van Cleef & Arpels brand which he stated was even more impressive considering the lack of new launches within the line.
The company's US operations continue to grow although they remain a small part of the overall turnover.
Second quarter US sales increased 23 percent to $15.2m due to the expansion of the specialty retail businesses including the Gap and Banana Republic fragrance and personal care products.
In addition, the company recently took on a licensing deal with bebe clothing which is likely to boost dealings in the US and strengthen its presence in the beauty and cosmetics market.
Expansion of Paul Smith deal
In other news, the company has also announced the extension of its licensing agreement with the Paul Smith brand until the end of 2017.
