Inter Parfums Q2
This article was originally published in The Rose Sheet
Executive Summary
Fragrance manufacturer expects to finalize long-term fragrance license renewal with Burberry in September. Royalty rate is anticipated to increase effective July 1, 2004 and marketing requirements will increase beginning in 2005, exec VP and CFO Russell Greenberg states in a conference call Aug. 11. Firm is reworking business plan to mitigate these incremental costs beginning in 2005, exec adds. Burberry fragrances contributed to net sales in the second quarter, which increased 13% to $46.7 mil. Prestige sales increased 20%, offset by mass market sales, which declined 8%. Inter Parfums reported net income of $3.4 mil. in the period, up 16%. Firm plans to introduce new Christian Lacroix men's and women's fragrances in the first half of 2005 and a new Lanvin women's fragrance next fall...
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