Inter Parfums predicts 14% sales increase in 2011
Puts faith in quality brands, strong distribution and efficient organisation
Inter Parfums has reported gains in market share through 2010 with group sales up 18% over the previous year at €305.7m. Operating profits went up 25% to €42.2m, generating a margin of 13.8% compared with 13% in 2009. Net group profits for 2010 increased 18% to just below €27m.
The company has said its achievement in terms of margin resulted despite slightly negative exchange rate factors. The rise in gross margin was based on an increase in sale prices in certain markets, lower costs for some ingredients and a positive product mix.
Inter Parfums president, Philippe Benacin, said the company now had a portfolio of high quality brands which had recently been strengthened, a strong distribution network, an efficient internal organisation and a programme of "creative and coherent" product launches.
Benacin said 2011 would be marked by important initiatives with the Jimmy Choo and Montblanc brands in the first half and with the Burberry brand in the second half. Sales in 2011 are set to increase by over 14% to around €350m. Profitability is also expected to remain high.