Interparfums confirms its 2014 targets

Interparfums, specialist in the conception and distribution of perfumes under license, confirms its objectives for 2014, after a 6% growth in sales compared to the third quarter.

Revenue for the latest quarter stands at 78.3 million euros, compared to 73.8 million pro forma a year ago, carried by a "dynamic still supported by the Montblanc, Lanvin and Jimmy Choo perfumes," the group indicates in a press release.

Interparfums notes that this increase has been recorded but that last year's third quarter saw very strong activity with sales up 33%.

"The performances in the third quarter (...) allow us to reconfirm our target revenue of 280 million euro for the entire 2014 financial year," stated Interparfums CEO Philippe Benacin.

For his part, Chief Financial Officer Philippe Santi emphasised that the favourable development of the currency parities, particularly the euro/dollar, will allow Interparfums to "strengthen its efforts case by case in terms of marketing and publicity," all while maintaining its target"10 to 11% operational margin" for all of 2014.

For the first nine months of the year, the rise in revenue exceeded 15% on a comparable basis (excluding Burberry perfumes conceded in March 2013), with 222.1 million euros in sales.

Growth since the beginning of the year has largely been supported by the Montblanc perfumes (+36%) with a revenue of 65 million euros over nine months. Interparfums mentions the "continual success of its first men's line, Legend", launched in 2011, which is "bolstered" by the launch of its second men's line, Emblem, in spring 2014.

The group also sees that the Lanvin perfumes (47.9 million euros over nine months) "recovered a sustained level of activity" in the third quarter after a start of the year marked by a drop in the Russian market.

As for the Jimmy Choo perfumes (42 million euros over nine months), they recorded a 23% increase in the third quarter, thanks to the launch of the brand's first men's line.