Jean Madar, Chairman & CEO of Inter Parfums, commented, “As previously reported, in local currency, several key brands within our European-based operations achieved strong growth in the third quarter. Notably, Lanvin fragrance sales rose 12%, Montblanc fragrance sales rose 67%, and Jimmy Choo fragrance sales were 44% ahead of the same period last year. However, last year’s third quarter net sales included the global launch of Burberry Body, making for a difficult year-over-year sales comparison. With respect to U.S.-based operations, the 2012 third quarter was favorably impacted by the inclusion of Anna Sui fragrance sales, international distribution of U.S. specialty retail brands, and fragrance launches for namesake stores earlier in the year."Mr. Madar continued, “We plan to announce our initial guidance for 2013 on November 21, 2012. Our expectations for the coming year will factor in our previously announced transition agreement with Burberry, a process slated for completion by March 31, 2013. We also have new product launch plans in the works for many of our brands including Jimmy Choo, Lanvin, Van Cleef & Arpels, Boucheron and our first Repetto fragrance in July for European-based operations, plus new product introductions for the Anna Sui and bebe brands for U.S.-based operations. Beyond 2013, we are enthusiastic about the business opportunity resulting from our new relationship with the iconic Karl Lagerfeld brand, under the 20-year license agreement we entered into last month. The first new fragrance launch from the brand is scheduled for 2014.”
Inter Parfums, Inc. Reports Third Quarter Results
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