×
63 095
Fashion Jobs
ADIDAS
Senior Finance Manager, Scm
Permanent · PORTLAND
ADIDAS
Product Manager Ftw
Permanent · LOS ANGELES
UNDER ARMOUR
Stock Keyholder, FT (5am-2pm)
Permanent · LANCASTER
GAP INC.
Vice President, Head of Procurement
Permanent · SAN FRANCISCO
OLD NAVY
General Manager - Xings of Spring Hill
Permanent · SPRING HILL
GAP INC.
Asset Protection Coordinator - Northwest Promenade
Permanent · BAKERSFIELD
BANANA REPUBLIC
General Manager - West Town
Permanent · MADISON
GAP INC.
(Remote Opportunity) Director, Loyalty Strategy & Experience
Permanent · SAN FRANCISCO
GAP INC.
Asset Protection Coordinator - Rockefeller Center
Permanent · NEW YORK
ATHLETA
Athleta Head of Brand Finance
Permanent · SAN FRANCISCO
SACK OFF 5TH
Asset Protection Supervisor
Permanent · LIVERMORE
SACKS
ic Processor Wkd Shift-1
Permanent · LA VERGNE
SACKS
ic Processor Wkd Shift-3
Permanent · LA VERGNE
SACK OFF 5TH
Coordinator Operations
Permanent · LAS VEGAS
BLOOMINGDALE'S
Asset Protection Outlet Supervisor, Full Time - Liberty Place
Permanent · PHILADELPHIA
BANANA REPUBLIC
Banana Republic Head of Brand Finance
Permanent · SAN FRANCISCO
BANANA REPUBLIC
General Manager Block at Orange
Permanent · ORANGE
OLD NAVY
Business Affairs Production Manager
Permanent · SAN FRANCISCO
DECKERS
Merchandise Manager, us Marketplace, Men's & Kids'
Permanent · GOLETA
URBN
Urbn Employee Relations Manager
Permanent · PHILADELPHIA
URBN
Free People Assistant Visual Manager
Permanent · FORT LAUDERDALE
TUMI
Associate Manager PT 20-29 - Washington
Permanent · TULALIP BAY
Published
Oct 25, 2022
Reading time
2 minutes
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Inter Parfums posts record third-quarter sales on U.S. operations, newer brands

Published
Oct 25, 2022

Fragrance giant Inter Parfums Inc. announced on Monday a 7% uptick in third-quarter sales for the three months ended September 30, on the back of double-digit growth in the company's U.S. operations and newer brands.

The global company said net sales for the third quarter rose to a record $280 million, a 7% increase from $263 million in the third quarter of 2021. At comparable foreign currency exchange rates, third quarter net sales increased 12%. 


Ferragamo


The sales gain in the third quarter factored in organic sales growth of 3%, 9% due to new brands, and a negative 5% impact of currency translation, the company said,

For the first nine months of the year, sales increased to 16% to $776 million. Year-to-date, the top line improvement reflects 13% of organic sales growth, 8% attributable to new brands and a negative 5% impact of currency translation, the company added.

By region, U.S based products surged 45% to $98 million, while European product sales dipped 4% to $198 million. Year-to-date, U.S. sales skyrocketed 62%, while European sales lifted 4%.

“Several factors contributed to the top line growth of our U.S. operations in the third quarter. Our newer brands, Ferragamo, Donna Karan and DKNY, accounted for 41% of the gains while organic growth from established brands, including Guess, Oscar de la Renta, Hollister, and Abercrombie & Fitch made up much of the balance. Donna Karan/DKNY sales only commenced as of the end of July, and thus year-to-date, new brands contributed 36% to our sales growth with established brands responsible for the remainder," said Jean Madar, chairman & CEO of Inter Parfums.

“In Euro, European operations grew sales by 12%, as our three largest brands, Montblanc, Jimmy Choo and Coach, outperformed last year’s third quarter by 11%, 32% and 3%, respectively. Many of our mid-sized brands, including Kate Spade, Rochas, Boucheron, Van Cleef & Arpels and Karl Lagerfeld achieved comparable quarter sales growth as well. However, the 17% decrease in the average euro to dollar exchange rate masked those sales gains, and as a result, we are reporting a 4% decline in third quarter European based product sales in dollars," added Madar.

​The company acknowledge that quarterly growth was "modest" in comparison to previous quarters, adding it was up against "significant comparables since Q3’21 was up 64%, and we continue to have supply chain challenges which pushed the delivery of certain holiday gifts sets into the fourth quarter."

However, its Italian operations remain fully operational, adding "Ferragamo is on track to be our second largest brand under the U.S. operations banner this year. We also continue to see strong momentum in our travel retail business and our small but growing travel amenities operation has begun to show real promise," said Inter Parfums CFO, Michel Atwood. 

Copyright © 2023 FashionNetwork.com All rights reserved.