Inter Parfums Inc. has announced impressive double-digit revenue growth in the second quarter, setting a strong foundation for the rest of the year. The fragrance and cosmetics company revealed its projection for 2019 sales to reach $712 million, following a substantial 11.3% increase in net sales in the second quarter, reaching $166.2 million compared to $149.4 million in the same period last year. Adjusted for currency exchange rates, the sales surged by 13.7%.
In Europe, Inter Parfums experienced a robust 8.7% growth in the second quarter, largely fueled by the stellar performance of its leading brand, Montblanc, with comparable sales skyrocketing by 28.3%. However, the company faced a setback as its second-largest brand, Jimmy Choo, saw a 20% decline during the same period.
CEO Jean Madar highlighted the exceptional sales of Coach in the second quarter, which offset the slight dip in the first quarter. The Coach fragrance collection, coupled with the successful launch of Coach Floral Blush, contributed to a remarkable 43.8% sales increase for the brand in the second quarter, compensating for the 22.3% decrease in the first quarter.
Additionally, Inter Parfums witnessed strong performances from its Lanvin brand and smaller brands like Van Cleef & Arpels and Karl Lagerfeld, which saw growth rates of 61.3% and 115.7%, respectively. In the United States, the company reported a nearly 20.4% increase in revenue, driven by strong sales from Guess and Abercrombie & Fitch.
Looking ahead, Inter Parfums has upheld its guidance for 2019, with net sales expected to hit $712 million, resulting in a net income per diluted share of $1.88. The company is scheduled to release complete results for the second quarter on August 5.
Established in 1982, Inter Parfums is a well-known manufacturer and distributor of high-end perfumes and cosmetics, with a global presence spanning over 120 countries. The company holds licensing agreements with renowned brands such as Abercrombie & Fitch, Anna Sui, Boucheron, Coach, Dunhill, Jimmy Choo, and Repetto. Its latest partnership with Kate Spade, announced in June, further expands its impressive brand portfolio.
For more information on Inter Parfums Inc.’s recent performance and future outlook, visit their official website here. To explore their diverse range of luxury fragrances and cosmetics, click here.
