Inter Parfums raises expectations
A 24.2% increase in Q2 bodes well for 2010
Inter Parfums has posted a 24.2% increase in Q2 2010 sales to €72.4m, bringing total sales for the first half of this year to €150.7m, an increase over the same year earlier period of 24.3%. Four of the group's brands put on especially strong performances – S T Dupont expanding its Q1 sales by 65%, Van Cleef & Arpels by 36%, Lanvin by 21% and Burberry by 26%. Paul Smith brands grew by 12%.
Burberry fragrances reported robust growth with total sales in the first half of €100m, helped by steady performances from Burberry Brit and Burberry The Beat as well as the launch of Burberry Sport. Lanvin fragrances accelerated expansion and are supported by the established lines of Eclat d'Arpege and Jeanne Lanvin with sales growth of 48% and 33% respectively. Lanvin’s new Marry Me fragrance launches this September.
Inter has made strong gains in Asia (+39%) and the Middle East (22%) with eastern Europe returning 68% and Latin America 67% as market conditions normalised. More modest growth came from western Europe and North America with 15% and 14% respectively.
Against this background and the anticipated integration of the Montblanc fragrances in the second half, together with the launch of new Lanvin and Van Cleef& Arpels lines, the sales forecast for the full year has been raised to over €280m.
Inter Parfums has also announced that it has entered into an exclusive worldwide license agreement with the Jones Apparel Group for the creation, production, marketing and global distribution of women's fragrances under the Nine West brand. Under the agreement, the initial Nine West signature fragrance will be marketed and sold globally in better department stores, specialty retailers and Nine West retail stores, with an initial launch scheduled for autumn 2011. The agreement also grants Firmenich exclusive rights to create and supply the initial Nine West fragrance to Inter Parfums and Jones.
