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New York, NY www.interparfums.com Sales: $713 million Key personnel: Jean Madar, chairman and co-founder; Philippe Benacin, chief executive officer and co-founder; Russell Greenberg, chief financial officer and vice president, finance Major products: Fragrances and cosmetics. Brands include Abercrombie & Fitch, Anna Sui, Boucheron, Coach, Dunhill, Graff, Guess, Hollister, Jimmy Choo, Karl Lagerfeld, Kate Spade New York, Lanvin, MCM, Montblanc, Oscar de la Renta, Paul Smith, Repetto, Rochas, S.T. Dupont and Van Cleef & Arpels New products: Coach Dreams women’s fragrances and L’Homme Rochas. To be launched: MCM fragrances Comments: Corporate sales rose 5.6% last year to more than $713 million, a record. Sales rose in nearly every region, with sales in North America, Inter Parfums’ largest market, increasing 11.4%. The second largest market, Western Europe, achieved sales growth of 2.6%, while in Eastern Europe, sales rose 4.7%. The biggest percentage gainer was the Middle East where sales surged 22.4% over the previous year. However, sales in Asia, Inter Parfum’s third largest market, were down nominally in actual dollars. The smallest market, Central and South America, underperformed in 2019, which came as no surprise to Inter Parfums executives who blamed the region’s political, economic and social turmoil. Montblanc remains Inter Parfums’ largest brand, and 2019 sales surged 23%. Sales slightly declined for Jimmy Choo and Coach; but in its first full year under Inter Parfums’ guidance, Guess quickly became the the fourth largest brand in the company’s portfolio. Last year, Inter Parfums reached agreements to develop fragrances under the MCM brand and extended its licensing agreement with Oscar de la Renta through 2031 with a five-year option through 2036. The new year got off to a rough start for Inter Parfums and so many other companies. Sales fell nearly 19% to about $145 million. Despite the decline, company executives remained optimistic. In reporting Q1 results, Chairman and CEO Jean Madar noted that China and South Korea were showing signs of returning to normal. Furthermore, Inter Parfums entered 2020 with $253 million in cash and equivalents and less than $11 million in long-term debt. Most recently, Luxury brand Moncler and Interparfums SA signed an exclusive and worldwide license agreement for fragrances which will last to Dec. 31, 2026, with a potential five-year extension. Under the agreement, Interparfums SA will create and produce perfumes and fragrance-related products and will distribute them in Moncler monobrand stores as well as selected department stores, specialty stores and duty-free shops. The launch of the first fragrance line is expected within the first quarter of 2022.
New York, NY www.interparfums.com Sales: $713 million
Corporate sales rose 5.6% last year to more than $713 million, a record. Sales rose in nearly every region, with sales in North America, Inter Parfums’ largest market, increasing 11.4%. The second largest market, Western Europe, achieved sales growth of 2.6%, while in Eastern Europe, sales rose 4.7%. The biggest percentage gainer was the Middle East where sales surged 22.4% over the previous year. However, sales in Asia, Inter Parfum’s third largest market, were down nominally in actual dollars. The smallest market, Central and South America, underperformed in 2019, which came as no surprise to Inter Parfums executives who blamed the region’s political, economic and social turmoil.
Montblanc remains Inter Parfums’ largest brand, and 2019 sales surged 23%. Sales slightly declined for Jimmy Choo and Coach; but in its first full year under Inter Parfums’ guidance, Guess quickly became the the fourth largest brand in the company’s portfolio. Last year, Inter Parfums reached agreements to develop fragrances under the MCM brand and extended its licensing agreement with Oscar de la Renta through 2031 with a five-year option through 2036.
The new year got off to a rough start for Inter Parfums and so many other companies. Sales fell nearly 19% to about $145 million. Despite the decline, company executives remained optimistic. In reporting Q1 results, Chairman and CEO Jean Madar noted that China and South Korea were showing signs of returning to normal. Furthermore, Inter Parfums entered 2020 with $253 million in cash and equivalents and less than $11 million in long-term debt.
Most recently, Luxury brand Moncler and Interparfums SA signed an exclusive and worldwide license agreement for fragrances which will last to Dec. 31, 2026, with a potential five-year extension. Under the agreement, Interparfums SA will create and produce perfumes and fragrance-related products and will distribute them in Moncler monobrand stores as well as selected department stores, specialty stores and duty-free shops. The launch of the first fragrance line is expected within the first quarter of 2022.
New York, NY www.interparfumsinc.com Sales: $675 million
Sales: $675 million.
After a difficult 2017, sales rebounded more than 14% last year, with gains in every region where the company competes. Sales in Inter Parfums’ largest markets, North America, Western Europe and Asia, rose 19%, 9% and 24%, respectively. Meanwhile, the company’s business in the Middle East has also been quite robust with a year-over-year sales increase of 17%, and even in Eastern Europe and Central and South America, 2018 sales were ahead 7% and 1%, respectively, compared to 2017. Interparfums’ four largest brands are Montblanc, Jimmy Choo, Coach and Lanvin. In February, 2018, Inter Parfums, Inc. celebrated 30 years as a public company and its listing on Nasdaq. The company’s largest brand is Mont Blanc, a more than 100-year-old luxury brand known for writing instruments, watches, leather goods and jewelry.
For the first quarter of 2019, the company reported that net sales were $178.2 million, up 3.8% compared to the first quarter of 2018. Sales by European based operations declined 3.8% but sales by US-based operations rose 54.8%.
Jean Madar, chairman and CEO of Inter Parfums, Inc. noted, “Our two largest markets, North America and Western Europe, as well as the Middle East, achieved comparable quarter sales growth of 8.5%, 12.7% and 22.9%, respectively, with sales of Montblanc, Jimmy Choo and Boucheron fragrances driving the increases. The 9.3% decline in Asia, which remains our third largest market, is primarily due to lower sales of Lanvin products. With the upcoming launches for Lanvin and Anna Sui, we expect better comparisons for Asia in the coming quarters.”
Madar also talked about new releases slated for later in the year, including Jimmy Choo, which will welcome a new men’s scent toward the end of year as well as brand extensions under the Blossom, Illicit and L’Eau banners. Similarly, Inter Parfums has still another Coach flanker in the works, and has recently unveiled one for the Rochas Mademoiselle fragrance family.
Last month, Inter Parfums inked an 11-year agreement to license Kate Spade New York.
New York, NY www.interparfumsinc.com
Sales: $591 million.
Sales rose more than 13% last year as European sales rose 13.9%, but US sales fell 1.9%.
That divergent path continued in the new year. For the first quarter, sales jumped 20% to nearly $172 million, driven by a nearly 25% increase in Europe that was partially offset by a 4.6% decline the US.
Sales: $521 million.
Is there any fragrance house on earth that rolls out new scents at a faster rate than Inter Parfums? Some may say that there are still too many fine fragrance introductions, but the strategy is working as the company rebounded from a difficult 2015. Last year sales rose more than 11% to $521 million. Company executives are quick to point out that while the fragrance industry slumped from 2011 to 2016, posting a CAGR of -1.3%, sales of Inter Parfums’ scents rose 11%. Inter Parfums’ products are distributed in more than 100 countries through department stores and perfumeries. By region, Europe and the Americas each account for 38% of sales, with Asia Pacific representing 24%.
The good times continued into 2017, as first quarter sales surged 28.3% to $143.1 million. The company had issued guidance of $550-560 million for the year.
New York, NY 212.983.2640 www.interparfumsinc.com
Sales: $468 million.
Sales fell more than 6% due to the strong US dollar. The company noted that the currency impact was most apparent for the two largest brands within its European operations. In 2015, sales of Jimmy Choo fragrance were $92.4 million, an 18% year-over-year increase in dollars, but in local currency the increase was 41%. Similarly, Montblanc brand sales increased 6% in local currency in 2015, but declined 12% in dollars to just under $100 million. Other fragrance families that put up good numbers were Dunhill and Oscar de la Renta.
For the first quarter of 2016, sales rose 2% to more than $111 million. European sales rose 5%, but US sales were down 14%, which chairman Jean Madar attributed to difficult comps when Extraordinary by Oscar de la Renta and Icon by Dunhill were launched.
Sales: $499 million.
The loss of the Burberry license continued to drag down results, as sales fell more than 10% last year. Excluding the Burberry results, sales increased 15.3%.
But forget what might have been with Burberry; in a presentation to analysts, Inter Parfums noted that between 2009 and 2014, its ongoing sales increased at a CAGR of 23%, compared to the fragrance industry’s 3%. Furthermore, Inter Parfums puts the global fine fragrance market at $45 billion, with Europe accounting for 43% of sales, followed by the Americas (33%) and Asia Pacific (24%). In contrast, Inter Parfums’ sales by region in 2014 looked like this: Europe (38%), Americas (37%) and Asia-Pacific (25%).
Jean Madar, chairman and CEO of Inter Parfums, Inc., noted that increasingly strong currency headwinds toward the end of the year, a steady stream of product launches, the contribution of new brands, and the staying power of several best sellers provided a lift to ongoing brand sales in all regions. He noted, too, that new product introductions such as Oscar de La Renta Extraordinary and Dunhill Icon will provide a lift to results this year. And yet, in 2015, the company expects sales to fall to $470 million. For the three months ended March 31, 2015, sales fell 10% to $109 million, but net income improved 12.5% $10.0 million.
Sales: $563 million. Net income: $39 million.
When is a year in which your company’s sales drop 14% considered a good year? When your CEO says so! In his remarks to shareholders, chairman Jean Madar insisted that 2013 was “a very successful and exciting year.” That’s because he blamed the decline on Burberry’s decision to buy back its license. Excluding the Burberry debacle, net sales increased nearly 23% to $433 million. Prior to its departure, Burberry’s sales had topped $130 million in 2013. The brand had represented about 23% of InterParfums’ sales in 2013, down from 50% in 2011.
But even as it waved bye-bye to Burberry, InterParfums’ executives had plans to boost sales. They signed three brands last year in Shanghai Tang, Agent Provacateur and Oscar de la Renta. The first scent from Shangai Tang, a Chinese luxury brand, will roll out this fall. An Oscar de la Renta scent will debut in Spring 2015.
Fragrance launches aside, management intends to broaden it product offerings beyond fragrance and offer personal care products under its existing brands.
By region, Europe accounted for 38% of sales, followed by North America (27%), Asia (17%), and Middle East (8%) Central and South America (8%). European sales fell 19% to $464.3 million, but US product sales increased 21% to $99.3 million. Brands and products that provided a lift included the launch of Jimmy Choo Flash, which contributed to a 41% increase in brand sales, while sales of Montblanc Legend fragrances increasing 40%. Lanvin sales rose 11%. In the US, Anna Sui sales increased 29% and last year, Inter Parfums’ US operations took over the manufacture and distribution of Alfred Dunhill fragrances.
The loss of Burberry remains a drag on results in 2014. First quarter sales fell 43% to less than $122 million.
Sales: $654 million. Net income: $38.1 million
In the nearly 30 years since its founding, Inter Parfums, Inc. has been selected as the fragrance and beauty partner for a growing list of brands that include Burberry, Lanvin, Jimmy Choo, Van Cleef & Arpels, Montblanc, Paul Smith, Boucheron, S.T. Dupont, Balmain, Karl Lagerfeld, Repetto, Alfred Dunhill, Anna Sui, Gap, Banana Republic, Brooks Brothers, bebe, Betsey Johnson and Nine West. According to the company, Inter Parfums is known for innovation, quality and its ability to capture the genetic code of each brand in the products it develops, manufactures and distributes in more 100 countries worldwide.
Net sales for the fiscal year, which ended Dec. 31, 2012, rose 6.3% to a record $654.1 million. Jean Madar, chairman and CEO, commented, “The past year was highly eventful and productive for our company. In addition to achieving record sales and earnings in the absence of new major product launches, we added two new license agreements with iconic luxury fashion houses, Karl Lagerfeld and Alfred Dunhill. The addition of these brands is representative of our growth strategy as we move into the next phase of our company’s evolution.”
Madar continued, “Our 2012 sales benefitted from strong performances by several of our prestige brands. Notably, Montblanc sales increased 40%, driven by continued momentum of the extremely popular Legend men’s line, our best-selling fragrance for men across our entire prestige portfolio. Jimmy Choo continued to build upon the success of its signature scent with brand sales increasing 26% for the year. Also adding to our growth were sales of Boucheron fragrances during its first full year in our brand portfolio. Sales by US operations benefitted from initial sales under our Anna Sui license, initial sales of travel amenities, plus new product launches and continued global distribution of specialty retail products, especially under the Banana Republic, Gap and Bebe brands.
Sources at Inter Parfums are touting two new licenses signed in late 2012 as the top buzz: Karl Lagerfeld and Alfred Dunhill. In 2012, Inter Parfums also entered the travel amenities business, and for example, now supplies the Sofitel luxury hotel chain. In January 2013, it was revealed that famed fashion designer Karl Lagerfeld inked a fragrance deal with Inter Parfums SA, following the mutual termination of his contract with Coty Inc. Inter Parfums signed a 20-year deal with Karl Lagerfeld B.V., and expects to introduce its first fragrance in late 2014.
Following this, Inter Parfums, Inc. entered into a 10-year exclusive worldwide fragrance license to create, produce and distribute perfumes and fragrance-related products under the Alfred Dunhill Limited brand. The agreement replaces a previous license agreement with P&G that terminated on April 3, 2013. Inter Parfums will take over production and distribution of the existing Alfred Dunhill fragrance collections. Sales of current fragrances are planned for spring 2013 and a new men’s scent may come in 2014. Inter Parfums, Inc. reported that net sales for the three months ended March 31, 2013 rose 29.3% to $213.8 million.
On the subject of US-based operations, Madar noted, “Last year’s first quarter was somewhat of an anomaly, with sales 71% ahead of 2011’s first quarter due primarily to initial sales of Anna Sui fragrances. Also during the 2012 first quarter, we launched Love Fury by Nine West and Wildbloom Vert for Banana Republic. In other words, the bar was set unusually high, making the comparable quarter sales decline understandable.”Toward the end of the current first quarter, we launched Desire by Bebe and the initial reaction has been very good.”
European-based product sales increased 15.5%. Jimmy Choo led the way with year-over-year sales growth of over 50% driven in part by the very promising start for Flash, the brand’s second fragrance, which launched in January.
According to Madar, the year will be one of Inter Parfums’ most ambitious for new product introductions with new women’s fragrance lines planned for Jimmy Choo, Lanvin and Van Cleef & Arpels.
In addition, new fall 2013 initiatives are under development for the Boucheron, Balmain, Paul Smith, Repetto, Anna Sui and bebe brands.
New York, NY 212.983.2640 www.interparfumsinc.com Sales: $615 million. Net income: $32 million.
Sales soared 34% last year and net income jumped 21% to record highs. Jean Madar, chairman and CEO of Inter Parfums, noted that while Inter Parfums achieved record sales and profits, the company also gained further control over product distribution, executed the largest new product launch in its history added three valuable names to its brand portfolio: Balmain, Repetto and Anna Sui. Several prestige portfolio brands showed stellar sales gains. For example, Burberry sales rose 20% for the year in local currency due to the launch of Burberry Body and the staying power of the brand’s historic lines. With the debut of Montblanc Legend, sales were more than three times greater than in 2010. Sales of Jimmy Choo signature fragrance far exceeded expectations; and in the latter part of the year, sales of Boucheron products began.
In December, Inter Parfums opened discussions with the Burberry Group to set up a new operating structure for the Burberry fragrance and beauty business. With excellent prospects in both the fragrance and beauty categories, the two companies are exploring ways to work more closely together to realize the brand’s potential.
For the first quarter of 2012, sales increased 24% to $165.4 million and net income increased more than 21% to $15.5 million.
Inter Parfums’ Anthropologie 1922 Lily Sanguine Eau de Parfum won in the Specialty Brand Women’s category at the Fragrance Foundation’s 40th Annual FiFi Awards.
New York, NY
212.983.2640
www.interparfumsinc.com
Sales: $460 million
Sales:
$460 million. Net income: $26.6 million.
Inter Parfums has bounced back from the recession in a big way; net sales for the year ended Dec. 31, 2010 rose 12.4% to just over$460 million. Net income rose nearly 19% to a record $26.6 million.
“The economic rebound coupled with several major new product launches produced meaningful sales growth across all major prestige brands and in all geographic regions in 2010. For our US-based operations, 2010 sales growth was also spurred by the economic recovery as well as new product launches and greater international distribution of the specialty retail brands for which we develop, produce and sell product,” noted Russell Greenberg, executive vice president and chief financial officer at the release of the firm’s year-end results.
And so far, the good times have kept on going in 2011—net sales for the first quarter ended March 31 increased 11.7% to $133.4 million. During the quarter, European-based operations generated sales of $121.6 million, up 12.3%, and sales by US-based operations were up 6.5% to $11.8 million.
According to Inter Parfums, the Q1 sales growth in Europe was primarily due to the Jan. 1, 2011 commencement of prestige product distribution in the US by InterParfums Luxury Brands.
A US company that operates as a subsidiary of Inter Parfums Inc.’s French subsidiary Inter Parfums SA, InterParfums Luxury Brands is now leading the development and distribution of Burberry (fragrances and cosmetics), Lanvin, Montblanc and Jimmy Choo brands in the US. The creation of the unit in 2010 ended an agreement between Inter Parfums SA and P&G Prestige covering the US for Burberry and Lanvin fragrances.
Inter Parfums has always been keen on tapping high-profile fashion brands with big potential in fragrance, but even company officials were caught off guard by the response to the Jimmy Choo alliance.According to the company, the selective launch of the Jimmy Choo signature fragrance surpassed company expectations and the level of reorders, even in its limited distribution, which Madar said, “even surprised us.” Broader distribution of the scent commenced this spring, and as such, the firm has increased production for the year, Madar added.
And fashion-cum-fragrance fans are on the look out for the new Burberry scent for women, due out later this year. Madar has called it Inter Parfums’“largest product launch of the year.”
A big launch should keep this fragrance powerhouse on target for another year of growth. At the release of Q1 results, Greenberg said the company was “on track to achieve our recently increased 2011 guidance which calls for sales of approximately $550 million.
New York, NY 212.983.2640 www.interparfumsinc.com Sales: $409 million
Sales: $409 million. Net income: $22 million
Last year was not a kind one to fine fragrance marketers as Inter Parfums can attest. While there was positive movement in the fourth quarter, it wasn’t enough to keep sales ahead of 2008 results. For 2009, net sales slid 8% to just over $409 million. At comparable foreign currency rates, net sales also declined 8%. The company’s European-based operations recorded a 6% decline in sales to $361.7 million, and U.S.-based operations recorded a net sales decline of 20% to $47.8 million.Results so far in 2010 are far more encouraging. First quarter sales rose 32% to $119.4 million (at comparable currency exchange rates sales jumped 29%). European-based operations jumped 32% and U.S.-based operations recorded a 32% rise in sales. Gross margins were 60.1% compared to 59.2% in the first quarter one year ago.
“Building upon the momentum of last year’s fourth quarter, 2010 is off to a strong start,” said Russell Greenberg, executive vice president and chief financial officer.
The company has plenty to look forward to—this month marks the debut of the Burberry cosmetics collection, which will be carried in 30 shops, and distribution commences for Montblanc legacy fragrances. A new Montblanc scent is scheduled for Spring 2011.
In addition, shoe fanatics are chomping at the bit, as Inter Parfums signed as 12-year licensing agreement that will allow women to spritz Jimmy Choo fragrance on their wrists—an easier (and more affordable) endeavor than walking in the brand’s stilettos. The scent is due out next spring.
Sales: $446 million. Net income: $23.8 million.
Sales rose 15% last year, driven by a 17% gain in Europe. Sales in the U.S. rose just 1%.
The three largest brands within Inter Parfums’ European-based operations all showed strong growth in local currency in 2008. Burberry sales were up 10% from 2007. Also, year-over-year, sales of Lanvin and Van Cleef & Arpels products rose 17%, and 77%, respectively.
U.S. results included first time sales of the new Brooks Brothers fragrance collection, Brooks Brothers New York, and the international distribution of Gap and Banana Republic personal care products.
“The year-over-year sales increase was modest because our 2007 U.S.-based product sales included the initial rollout of personal care products to Gap, Inc.’s North American stores as well as the initial launch of personal care products for all New York & Company stores,” explained Jean Madar, chairman and chief executive officer.
For the first quarter of 2009, sales fell 27% to $90.4 million, as European sales fell 26% and U.S. sales declined even more, 33%.
In May, Inter Parfums’ Burberry Brit for Men won a FiFi Award for Fragrance of the Year in the Men’s Nouveau Niche category.
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