Interparfums shows greater ambitions than ever
today Jan 27, 2015
Interparfums concluded its 2014 financial year with revenue at €297 million ($333.83 million/£222.4 million), or a 19% increase at a constant conversion rate and perimeter.
This growth, greater than the latest forecasts, is still being led by the group's pillar fragrance brands: Montblanc, Lanvin and Jimmy Choo. Three brands that together generate 73% of the group's activity.
This share could still grow. The specialist in creating fragrances under license estimates that in the short term, Montblanc should generate 100 million euros, compared to 83.4 million in 2014, up 33%. Moreover, in 2015, the group's leading brand will be launching out into women's fragrances with the launch of Lady Emblem.
Interparfums is also counting on its contenders. Boucheron, which recorded a 20% drop in revenue to 14 million euros in 2014, completing a year without launches, has an estimated potential of 20 million euros. The brand will launch a duo of fragrances in the spring called Quatre. And Van Cleef & Arpels, 17.7 million euros in 2014, down 7%, should also reach 20 million euros in revenue.
With a net treasury worth 224 million euros, Interparfums is looking to expand its brand portfolio. Philippe Benacin confirms that discussions over potential acquisitions have intensified over the last three months.
Not divulging any further information, the CEO of Interparfums did nevertheless specify that the group is not interested in the high end perfume sector, in contrast to Catalan Puig, which recently purchased the Penhaligon’s and l’Artisan Parfumeur brands.
This past November, Philippe Benacin did indeed explain that he was looking for a license from a brand with a very strong reputation, compared to its two most recent licenses, Karl Lagerfeld (18.2 million euros in revenue in 2014) and Repetto (9.3 million euros in 2014).
Interparfums, which currently generates 80% of its revenue internationally, saw its sales in France go down 4% to 28.3 million, notably put at a disadvantage by the merger of Douglas and Nocibé.
France makes up 9% of the activity in the Western Europe zone. A region which, with 66.8 million euros in revenue in 2014 (+24%), represents 23% of the group's activity, ahead of North America, which generated 60.7 million euros, up 18%.
Interparfums, which will publish its results on 11 March, is expecting revenue of 310 to 320 million euros in 2015.
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