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Inter Parfums fiscal 2007

This article was originally published in The Rose Sheet

Executive Summary

Firm records net sales of $389.6 mil. for 2007, up 21% from a year ago. Results reflect strong sales of Burberry fragrances, which brought in $210 mil. for the year, according to March 10 release. Sales in Europe totaled $330.8 mil., representing 85% of consolidated sales overall. In North America, sales rose 15% to $58.8 mil. due to Inter Parfums' specialty retail business with Gap, Banana Republic and New York & Company. Net income for the year was $23.8 mil. Inter Parfums is preparing busy launch schedule for 2008, including new scents for Burberry, Roxy, Quicksilver, Van Cleef & Arpels and S.T. Dupont. Rumeur 2 Rose is "being readied" for introduction under firm's Lanvin Brand, and limited-edition Paul Smith men's and women's scents also are on the way, according to Chairman of the Board and CEO Jean Madar. "As did many of our peers, we entered the fourth quarter of 2007 with much trepidation, and looked to contain costs and brace for a turbulent holiday season. With fourth quarter sales far exceeding our expectations, fourth quarter profits came in considerably better than anticipated," Madar says. Company announced fourth-quarter results in February (1"The Rose Sheet" Feb. 4, 2008, p. 8)...
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