Interparfums profit boosted by new launches
Interparfums has reported revenue of 218 million euros for the first half of 2013 ended June 30th. Excluding Burberry brand sales – who bought back their licensing contract effective March 2013 – sales at the company shot up with 13.3% for the first half, reaching 120 million euros.
“This first half was very good, mainly thanks to the successful launch of fragrances Lanvin Me, Flash by Jimmy Choo and Montblanc Legend,” explains Phillippe Benacin, CEO of Interparfums. Lanvin fragrances brought in 33.8 million euros in sales, and increase of 15%, while Jimmy Choo and Montblanc are up by 45% and 28% to 27.2 and 28.2 million euros respectively. Legend by Montblanc reportedly drew in its expected yearly revenue in just the first half. “We think that this fragrance will be at the head of the group in 2 year’s time,” continued the CEO.
Other new releases on the starting block are the Repetto fragrance and the Karl Lagerfeld fragrances that are moving over to Interparfums from Coty.
The withdrawal of Burberry from the Interparfums portfolio has not affected the group’s optimism. The company saw their yearly forecast rise from 300 to 320 million euros with net profit expected to be ‘exceptional’ for the full year. Philippe Santi, chief financial officer at the company, said the Interparfums could expect to see normal results from 2014.
Though brand has not hid its desire to acquire licenses from luxury brands, Interparfums believes it on track to reach 350 to 400 million euros in sales with its current portfolio in two to four year’s time.
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