Inter Parfums records double-digit sales growth for 2018
French fragrance design and distribution group Inter Parfums announced on Monday a double-digit sales growth for the year ended December 31, 2018.
Net sales rose 14.3 percent to $675.6 million during the year, up from $591.3 million in 2017, while in its fourth quarter net sales hit $177.2 million, up 18.5 percent.
“The final quarter was even better than expected,” stated Jean Madar, Chairman & CEO of Inter Parfums.
Among the group’s Europe-based operations, sales were up 16.8 percent during the quarter with sales jumping at its four largest brands, Montblanc, Jimmy Choo, Coach and Lanvin, by 2.7 percent, 55.2 percent, 22.5 percent and 28.1 percent, respectively. For the full year, the brands posted a 1.4 percent, 8.5 percent, 73.3 percent and 7.1 percent, sales gain for a total sales jump of 12.8 percent.
Meanwhile, among its U.S.-based operations, Madar noted great results for its Guess fragrance, which it added to its brand portfolio in 2018.
“In addition to the inclusion of Guess fragrances, the 24.4 percent increase in 2018 fourth quarter sales reflects gains by the Anna Sui, Oscar de la Renta and Abercrombie & Fitch Co. brands. For the full year, the largest sales gains were achieved by Anna Sui and Abercrombie & Fitch, which along with incremental Guess fragrance sales, produced the more than 20 percent top line improvement by U.S. based operations.”
Looking ahead, the group is raising its 2018 guidance range due to better than expected sales. It now expects net income per diluted share to be $1.68 to $1.70, up from its previous guidance of $1.61.
In 2019, the group continues to expect net sales of approximately $705 million, resulting in net income attributable to Inter Parfums, Inc. of approximately $1.81 per diluted share.
It also has several product launches planned including new men’s fragrances for Jimmy Choo and Dunhill, a new Lanvin scent called 'A Girl in Capri' for women, the debut of its first Graff fragrance collections, and a new fragrance duo for the Abercrombie & Fitch brand.
Inter Parfums plans to issue full results for the 2018 fourth quarter and full year on Monday, March 4, 2019.
Copyright © 2021 FashionNetwork.com All rights reserved.