Fragrance licensee aims to propel beauty business to new global heights
Perfumes company and licence holder for Kate Spade and Jimmy Choo, Inter Parfums, has announced it is in the process of negotiating an exclusive fragrance deal with Salvatore Ferragamo.
If a deal is struck, the licensee, whose French subsidiary is Interparfums, intends to boost the brand’s beauty business, while preserving its values and Italian heritage.
Inter Parfums will also use its global presence to broaden Salvatore Ferragamo’s distribution.
The Italian fragrance and fashion house holds some 30 beauty creations in its portfolio, for both men and women, across fragrance and body products, as well as at-home scents.
The announcement follows another successful quarter for the French licence holder, which saw its net sales hike almost 40% for three months ended 31 March 2021, compared with the same period in 2020.
This was also an 11% increase on its 2019 results with net sales reaching US$198.5m, which according to Chairman and CEO Jean Madar, is more significant than its up on last year's results.
“Comparisons with the first quarter of last year are not especially meaningful because of the outbreak of the Covid-19 virus and concurrent closures and restrictions imposed worldwide,” he said.
“As shown above, 2021 first quarter sales well exceeded those of the pre-pandemic first quarter of 2019 as did all profitability measures.
“Our business has been especially strong in regions where lockdowns have been lifted, stores have reopened and life has returned to near pre-pandemic standards, most notably North America and Asia, where our sales rose 56% and 34%, respectively.”
These figures follow Inter Parfums record-shattering earnings increase for the three months ended 31 December.
For Q4 2020, earnings shot up a staggering 80%, despite no new launches for its brands during the period.
Net sales in Europe and the US were both up more than 8%; the company’s strongest fourth quarter to date.