Inter Parfums projections for 2008
This article was originally published in The Rose Sheet
Executive Summary
Net sales for the firm will reach approximately $437 mil. in fiscal year 2008, Inter Parfums says Nov. 28. That figure is 15.6% ahead of the firm's guidance of $378 mil. for 2007. Projected growth is based on a strong launch schedule in Europe, including the debut of The Beat, the sixth fragrance from the company's Burberry brand. Inter Parfums also will introduce Love and Heart, two Roxy fragrances for women, alongside launches for its Quicksilver, Van Cleef & Arpels, Paul Smith and S.T. Dupont brands, according to firm Chairman and CEO Jean Madar. In the U.S., Inter Parfums will continue its shift away from the mass market, offering new products and brand expansions to its specialty retail partners. "We are also hopeful that the first new products for Brooks Brothers' U.S. stores will be on the market before 2008 year-end," Madar notes. Sales growth for the year is expected to exceed net income growth due to the weakness of the U.S. dollar as well as staff and infrastructure investments in support of the firm's specialty retail initiative, according to Executive VP and CFO Russell Greenberg...