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Sales for the manufacturer and distributor of prestige perfumes declined 42% in the first half of the year to 139.8 million euros.
139.8 million in the first half of the year, down 42%.
This decline is explained by the closure of the majority of points of sale around the world for a long period due to the coronavirus crisis.
Brand activity suffered in the first half of the year with declines of between 40% and 60% over the period.
In addition, Coach (-19%) and Rochas (-15%) fragrances posted limited declines due to the launches of the Coach Dreams and L’Homme Rochas lines at the beginning of the year.
The health environment weighed on all regions with more pronounced declines in the Middle East and Eastern Europe.
In France, there was a significant recovery in May and June. It also benefited from good performances by Rochas and Montblanc fragrances.
Nevertheless, the group managed to balance its account positively over the first 6 months of the year despite an incredible and unexpected decline in activity.
In a press release, the CEO, Philippe Benacin, recalled that “passing a certain limit, the figures no longer mean anything“.
Despite the decline in sales, Interparfums “expects a positive operating margin in the first half of the year of around 5%,” said the CEO, emphasizing the “flexibility of the group’s operating model and the adaptation of advertising and marketing expenses.
Philippe Santi also highlighted the initiatives launched by the Group in the second quarter, including the licensing agreement with Moncler and the acquisition of a stake in the Origines Parfums e-commerce site.
The Group will publish its full half-year results on 8 September.
Read also > GROWTH FACTORS OF THE GLOBAL LUXURY PERFUME MARKET
Featured Photo : © Interparfums[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]
Sales for the manufacturer and distributor of prestige perfumes declined 42% in the first half of the year to 139.8 million euros.
139.8 million in the first half of the year, down 42%.
This decline is explained by the closure of the majority of points of sale around the world for a long period due to the coronavirus crisis.
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Sales for the manufacturer and distributor of prestige perfumes declined 42% in the first half of the year to 139.8 million euros.
139.8 million in the first half of the year, down 42%.
This decline is explained by the closure of the majority of points of sale around the world for a long period due to the coronavirus crisis.
[…]
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