Dallas, Texas 09/27/2013 (Financialstrend) – Inter Parfums, Inc. (NASDAQ:IPAR) is into manufacture, distribution and sales of its perfumes and cosmetic products in over 100 countries worldwide. In a regulatory filing on September 12, company indicated that it is increasing sales and earnings forecast for current fiscal 2013 and the next year as well. It is expecting to end the year on a high with net sales adding up to $540 million for the year. If these sales numbers are attained, it hopes to ring in net income of roughly $1.18 per diluted share. Earlier in the year, IPAR had forecasted to achieve roughly $525 million sales for the year.
Ups FY 14 forecast too
It has also raised its forecast for the next fiscal year 2014. It is anticipating a 16% increase in net sales of ongoing brands to reach $475 in comparison to 2013. This forecast does not include the numbers anticipated from its flagship Burberry sales. On the currency valuation remaining the same and the sales forecast being met, IPAR hopes to achieve earnings per share of $0.90 to $0.95 per diluted share.
New offerings to drive growth
It’s CEO and Chairman Jean Madar is quoted to have said that they have “high expectations from their largest brands Lanvin, Jimmy Choo and Montblanc.” Inter Parfums is also banking on new fragrances from their premier brands Repetto and Boucheron to hit the markets during the holiday season and drive up sales volume. In addition they have lined up major new product launches for 2014 from their “Balmain and Karl Lagerfeld” brands.
Inter Parfums is targeting to achieve aggressive growth targets in both Europe and North America through next year by launching extensive advertisement campaigns through the regular media channels. It is also hoping to leverage social media channels extensively in promoting and supporting the new product launches.