The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
PARIS, France — French perfume maker Interparfums on Thursday forecast 2020 revenue at a lower-than-expected €500 million ($553.75 million), blaming geopolitical and economic uncertainties.
That was below the €545.6 million expected on average by analysts in a company-compiled consensus.
"We plan to continue to invest significantly in marketing and advertising, without impacting our operating margin which in 2020 is expected to reach between 14% and 14.5%," Chief Financial Officer Philippe Santi said in a statement.
Its 2019 operating margin may exceed its initial guidance of 14%, he said.
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The group, which develops perfume as well as cosmetic lines, confirmed it expected its sales for this year to reach its target, driven by strong performances in its fragrances Montblanc, Jimmy Choo and Coach.
Interparfums said that 2019 saw a number of significant launches, most notably the Montblanc Explorer line, which is expected to reach sales of more than 40 million euros this year.
Nonetheless, the group's chairman and CEO said geopolitical and economic uncertainties prompts the company to remain cautious regarding forecasts for 2020.
By Charles Regnier; Editors: Kim Coghill and Jason Neely.
This month, BoF Careers provides essential sector insights to help beauty professionals decode the industry’s creative landscape.
The skincare-to-smoothie pipeline arrives.
Puig and Space NK are cashing in on their ability to tap the growth of hot new products, while L’Occitane, Olaplex and The Estée Lauder Companies are discovering how quickly the shine can come off even the biggest brands.
Demand for the drugs has proven insatiable. Shortages have left patients already on the medications searching for their next dose and stymied new starters.