Inter Parfums results
This article was originally published in The Rose Sheet
Executive Summary
Lanvin fragrance brand's $35 mil. sales in 2005 "far exceeded our expectations," driven more by "growing recognition and prestige" of the label than new products, Inter Parfums CEO Jean Madar says during March 9 earnings call. Net sales during the year soared 16% to $273.5 mil. Prestige product sales rose 22%, while mass market revenues dropped 18%. Net income was down 3% to $15.3 mil., firm adds. In Q4, net sales grew 3% to $65.7 mil., and net income advanced 11% to $3.9 mil. Separately, Inter Parfums announces extension of personal care deal with Gap Inc. to include developing products for Gap Outlet and Banana Republic Factory stores. New items are scheduled to be in outlet/factory stores by holiday, with additional products rolling out next year, firm says. Inter Parfums also will assume manufacturing and inventory management of existing personal care lines in those doors, company adds. Firm unveiled plans to create personal care for Gap and Banana Republic retail stores last July (1"The Rose Sheet" July 25, 2005, p. 3)...