Inter Parfums 2007 sales up 21 percent
NEW YORK Inter Parfums, a prestige perfume and cosmetics manufacturer, reported fourth-quarter net sales rose 32 percent to $119.4 million for the period ended Dec. 31, 2007, up from $90.2 million in the same period a year ago. Net income for the quarter rose 57 percent to $8.6 million.
“As did many of our peers, we entered the fourth quarter of 2007 with much trepidation, and looked to contain costs and brace for a turbulent holiday season,” stated Jean Madar, chairman of the board and chief executive officer. “With fourth-quarter sales far exceeding our expectations, fourth-quarter profits came in considerably better than anticipated, and as a result, our net income and diluted earnings per share surpassed our prior 2007 guidance.”
For the full year, Inter Parfums reported record net sales of $389.6 million, up 21 percent from $321.1 million in 2006. Net income for the year increased 34 percent to $23.8 million from $17.7 million in 2006. A 15 percent increase in U.S.-based sales, which approximated $58.8 million, was due to Inter Parfums’ specialty retail business with Gap, Banana Republic and New York & Company.
“With regard to U.S.-based operations, among the highlights of the past year was the launch and rollout of personal care, fragrance, grooming and home fragrance products that we developed for Gap stores in North America,” Madar stated. Inter Parfums also rolled out a line with New York & Company and signed an agreement in November with Brooks Brothers to produce personal care products for the chain.
Kalmanson retirement ends 30-plus year career with Kimberly-Clark
DALLAS Kimberly-Clark, whose brands include Kotex and Huggies, has announced the retirement of Steve Kalmanson, group president of its North Atlantic Consumer Products business, following a 30-plus career with the company.
Succeeding Kalmanson is Robert Abernathy, group president of the companyIs developing and emerging markets business.
In addition, Bob Black, chief strategy officer, will succeed Abernathy as head of the D&E business and Tony Palmer, chief marketing officer, will assume responsibility for K-CIs innovation organization, which previously reported to Black.
BeautyBank, HSN team up to create beauty brand
NEW YORK BeautyBank, a subsidiary of The Estee Lauder Companies, has teamed up with HSN to launch a made-for-television beauty brand.
The venture between BeautyBank and HSN marks the first of its kind between a prestige beauty company and a television retail destination. The brand, which will launch on HSN in July, will be exclusively distributed on HSN and HSN.com.
nWe have watched the amazing transformation of HSN under Mindy GrossmanIs leadership and feel she has created a vibrant, dynamic network, with a loyal and expanding consumer base, ideal as the launching pad of our new brand,i stated Jane Hudis, president of BeautyBank.
BeautyBank, launched in 2004, is the entrepreneurial arm of The Estee Lauder Companies. The first venture for BeautyBank was the alliance to create a cosmetics department for Kohl’s Department Stores. The company has also collaborated with Coach and launched an exclusive fragrance in Coach freestanding stores.