Inter Parfums, Inc. Reports 2021 Second Quarter Net Sales

NEW YORK–(BUSINESS WIRE)–Inter Parfums, Inc. (NASDAQ GS: IPAR) right this moment introduced that for the three months ended June 30, 2021, internet gross sales rose to $207.6 million, a major enhance in relation to the second quarter of 2020, however extra importantly up 24.9% from the second quarter of 2019. At comparable international foreign money trade charges, consolidated second quarter internet gross sales elevated 22.7% in comparison with the second quarter of 2019. Of word, the typical greenback/euro trade price for the present second quarter is 1.20 in comparison with 1.10 and 1.12 within the second quarter of 2020 and 2019, respectively. Inter Parfums plans to difficulty outcomes for the 2021 second quarter on or about August 9, 2021.

Net Sales:

 
 
 
 

 

 

Three months ended June 30,

 
 
 
 

(in tens of millions)

 

2021

 

2020

 

2019

 

21 vs 19%

 
 
 
 

 

 

 

 

 

 
 
 
 

European based mostly product gross sales

 

$161.2

 

$39.4

 

$125.6

 

28.3%

 
 
 
 

United States based mostly product gross sales

 

46.4

 

10.1

 

40.6

 

14.2%

 
 
 
 

 

 

$207.6

 

$49.5

 

$166.2

 

24.9%

 
 
 
 

 

 

 

 
 

Net Sales:

 
 
 
 

 

 

Six months ended June 30,

 
 
 
 

(in tens of millions)

 

2021

 

2020

 

2019

 

21 vs 19%

 
 
 
 

 

 

 

 

 

 
 
 
 

European based mostly product gross sales

 

$320.9

 

$153.5

 

$269.3

 

19.1%

 
 
 
 

United States based mostly product gross sales

 

85.2

 

40.8

 

75.2

 

13.4%

 
 
 
 

 

 

$406.1

 

$194.3

 

$344.5

 

17.9%

 
 
 
 

 

 

 

 
 

Jean Madar, Chairman & CEO of Inter Parfums acknowledged, “The second quarter, like the primary, far exceeded expectations. Once once more, quarterly comparisons with 2019 are much more significant than with 2020, as a result of influence in 2020 of the COVID-19 disaster. Among our largest manufacturers inside European based mostly operations, Montblanc, Jimmy Choo and Coach model gross sales elevated 27.3%, 64.9% and 22.4%, respectively, in comparison with the 2019 second quarter. Year-to-date, Montblanc fragrances have returned to a degree akin to the primary half of 2019, the 12 months of the launch of the Montblanc Explorer line, which was enlarged with the rollout of the model’s Explorer Ultra Blue line in April 2021. Similarly, sturdy gross sales of Jimmy Choo’s established strains mixed with the extremely profitable launch of I Want Choo, produced a 38.7% enhance in first half model gross sales in comparison with the identical interval in 2019. Coach perfume gross sales rose 33.9% in comparison with the primary half of 2019 as a result of continued energy of established ladies’s and males’s collections and the rollout of Coach Dreams Sunset within the second quarter. In addition, preliminary gross sales of our Kate Spade signature assortment, which debuted within the first quarter, contributed to the gross sales progress.”

Moving on to U.S. based mostly operations, Mr. Madar famous, “The 14.2% enhance in second quarter gross sales in comparison with the identical interval in 2019 was in nice half attributable to the GUESS model, with legacy scents together with the brand new Bella Vita line driving progress. Contributing to a rise in Abercrombie & Fitch model gross sales have been shipments of a brand new pillar, the Away duo, together with continued robust gross sales of current additions together with the Authentic Night duo. In addition, the launch of Oscar de la Renta’s Alibi contributed to the highest line progress.”

Discussing the current launch of the primary ever MCM perfume, Mr. Madar acknowledged, “We are particularly happy by preliminary gross sales, sell-through and pending orders, all of that are far forward of our preliminary projections. Thus far, distribution has been centered in continental Europe completely on the 1,900 retailer Douglas specialty retailer chain, within the U.S. at MCM shops and excessive finish department shops and in higher shops all through South Korea. The rollout continues, simply this month, China’s Sephora shops launched the product and subsequent month, gross sales start within the U.Okay. We have excessive expectations for the MCM model and have developed a sturdy innovation plan to speed up and optimize its potential.”

Mr. Madar additionally famous, “Our acknowledged aim of including established perfume manufacturers to our portfolio is positioning our firm for accelerated progress. As we reported earlier this month, we entered right into a worldwide perfume license settlement with Salvatore Ferragamo S.p.A., which is predicted to shut in October, once we will start producing the suite of Ferragamo perfumes in Italy and distributing them worldwide by way of a brand new wholly-owned Italian firm, based mostly in Florence. Work may even start growing new perfume entrants for the model. Although no further agreements for different manufacturers have been finalized, discussions and negotiations are underway with homeowners of different manufacturers.”

Russell Greenberg, Executive Vice President & CFO famous, “Based upon a really robust first half and a greater than beforehand anticipated second half, we now have as soon as once more raised our 2021 steering. We at the moment are in search of internet gross sales of roughly $750 million leading to diluted internet earnings per share of $1.95. Our earlier steering referred to as for internet gross sales of $700 million and diluted internet earnings per share of $1.65. Guidance assumes that the typical greenback/euro common trade price stays at present ranges, there isn’t a important resurgence of the COVID-19 pandemic and doesn’t embody Ferragamo perfume gross sales following closing of the pending transaction.”

Founded in 1982, Inter Parfums, Inc. develops, manufactures and distributes status perfumes and cosmetics because the unique worldwide licensee for Abercrombie & Fitch, Anna Sui, Boucheron, Coach, Dunhill, Graff, GUESS, Hollister, Jimmy Choo, Karl Lagerfeld, Kate Spade New York, MCM, Moncler, Montblanc, Oscar de la Renta, Paul Smith, Repetto, S.T. Dupont and Van Cleef & Arpels. Inter Parfums can be the proprietor of Lanvin fragrances and the Rochas model. Through its world distribution community, the Company’s merchandise are bought in over 120 nations.

Statements on this launch which aren’t historic in nature are forward-looking statements. Although we consider that our plans, intentions and expectations mirrored in such forward-looking statements are affordable, we can provide no assurance that such plans, intentions or expectations will likely be achieved. In some instances you may establish forward-looking statements by forward-looking phrases similar to “anticipate,” “consider,” “might,” “estimate,” “count on,” “intend,” “could,” “ought to,” “will,” and “would,” or comparable phrases. You mustn’t depend on forward-looking statements, as a result of precise occasions or outcomes could differ materially from these indicated by these forward-looking statements on account of a lot of essential components. These components embody, however will not be restricted to, the dangers and uncertainties mentioned beneath the headings “Forward Looking Statements” and “Risk Factors” in Inter Parfums’ annual report on Form 10-Okay for the fiscal 12 months ended December 31, 2020 and the stories Inter Parfums information infrequently with the Securities and Exchange Commission. Inter Parfums doesn’t intend to and undertakes no responsibility to replace the knowledge contained on this press launch.

https://www.businesswire.com/information/house/20210719005712/en/Inter-Parfums-Inc.-Reports-2021-Second-Quarter-Net-Sales

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