Sales of Burberry fragrances boost Inter Parfums’ second quarter
The manufacturer and developer of prestige cosmetics and perfumes said that this increase was 2.83 percent based on comparable foreign currency exchange rates.
Net sales for the first six months (period ending 30 June 2010) increased 26.9 percent from $179m to $227.1m (28.6 percent at comparable foreign currency exchange rates).
‘Significant upturn’ in US sales
Breaking the results down by region, United States-based product sales increased 71.5 percent in the second quarter from $9.2m to $15.9m.
Commenting on the results, Inter Parfums chairman and CEO Jean Madar said: “We are delighted by the significant upturn in sales, fueled by deeper and broader international specialty retail product distribution as well as from new product launches."
He added that the company is working on several new initiatives including the recently announced Betsey Johnson fragrance license agreement, with other new agreements expected in the future.
Strong Burberry fragrance sales
The company’s Europe-based operations, which accounted for 85 percent of total sales, increased 15.8 percent from $79.4m to $91.9m, with Madar noting that the Burberry fragrance line performed particularly well.
“Burberry fragrance sales did exceptionally well with year-to-date growth of 26 percent in local currency due to the global rollout of Burberry Sport fragrances, as well as the popularity of established Burberry scents including Burberry Brit and The Beat,” he said.
Sales gains were also witnessed across the Lanvin, Van Cleef & Arpels, ST Dupont and Paul Smith fragrance lines due to both new launches and continued sales of existing products, said Madar.
Although sales increases were seen across all regions, emerging markets outperformed Western Europe and North America, with sales in Eastern Europe and Asia increasing 68 percent and 39 percent respectively.
Inter Parfums is set to release final results for the second quarter of 2010 on 9 August.
