Interparfums stays in great shape for first half of 2017
After a flourishing first quarter with sales up 34%, Interparfums remains in great shape announcing a 29% increase in revenues for the first-half of 2017, to 209.3 million euros. The second quarter demonstrated an increase of 23.3%.
The activity of the French group, specialising in licensed fragrance, was driven by a number of fragrance releases since the beginning of the year and last autumn, such as the new Mademoiselle Rochas, a new Coach line, and the new releases Jimmy Choo L'Eau and Ice Man.
Interparfums, which announced the extension of its licensing contract with Paul Smith until 2021, recorded 33% growth in North America and 29% in Asia. Across the group's portfolio, the firm saw the strongest growth in Jimmy Choo, up 40% to 54.6 million euros, during the first-half.
Solid results for the firm, which did consider a minority stake in Jimmy Choo - finally acquired by Michael Kors -- to now reassess its objects upward for the entire fiscal year 2017.
Some 400 million euros is now the target, compared to the 390 million first anticipated, with an operating margin target of 13% to 13.5%.
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