Inter Parfums expects increased sales in 2010

By Simon Pitman

- Last updated on GMT

Related tags United states dollar Currency

Inter Parfums says that it expects to see its sales grow in 2010, in contrast to the shrinking sales experienced by the company during the course of 2009.

The company said that in contrast to 2009 it expects improved economic conditions should help to drive sales, which will help make 2010 a year of ‘major initiatives’.

The company foresees sales growing by approximately 9 per cent at constant exchange rates in the year ahead to €265m ($440m), mainly driven by a series of new product launches and innovations.

Guidance based on improved economic outlook

“Our 2010 guidance is based in a somewhat improved economic climate, and does not include any non-recurring foreign currency hedge gains as we had in 2009,”​ said Inter Parfums CEO, Jean Madar.

“Our guidance is based primarily on the strength of our brand and of our new product launch schedule, and give us confidence that we will be able to achieve growth in both our European-based and US-based operations,”

The company is readying a number of new launches in 2010, including a women’s and men’s Burberry Sports fragrance, to be launched in February, a Burberry make-up range in June and a new Van Cleef & Arpel men’s fragrance in September.

Sales pick up during the course of 2009

So far in 2009, sales for the first nine months of the year have declined by 8.9 per cent at constant currency exchange rates, although the rate of decline has tailed off as the year has progressed.

For the last quarter ending in September, sales remained stagnant at €73m, while the company has just announced that its profits for the period increased from €6.2m in the same quarter in 2008, to reach €7.3m.

The company says that annual sales for 2009 are expected to be in the region of €250m - €255m, which will ultimately represent a marginal contraction on last year’s figure, which was €265m.

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