Inter Parfums Q3
This article was originally published in The Rose Sheet
Executive Summary
Burberry Brit could become the company's best selling men's fragrance, CEO Jean Madar states during a Nov. 11 earnings call. Currently available in North America, Western Europe and Asia, fragrance will roll out to the Middle East and South America over the next several months. Inter Parfums recently renewed its licensing agreement with Burberry, and plans to offset increased expenses associated with the agreement through modified cost sharing arrangements with suppliers and distributors, exec states. Inter Parfums also is considering joint ventures or company-owned distributors in select markets. Firm plans to introduce men's and women's scents under the Celine brand in 2005 and a men's version of Lanvin Arpège in late 2005 or early 2006, Madar says. Sales of the firm's prestige fragrances grew 26% in Q3, offset by a 22% sales decline in the mass market business. Net sales grew 16.9% to $67.1 mil., while net income fell 13.8% to $4 mil...
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