Interparfums — Earnings Release 2014

Oct 23, 2014

2014 nine-month sales: €222 million

In the 2014 third quarter, with continuing momentum by Montblanc, Lanvin and Jimmy Choo, consolidated sales were up 6% like-for-like to €78.3 million from last year, despite an unfavorable comparison base from particularly strong gains in the same quarter in 2013 (+33%).

For the first nine months, like-for-like sales rose in consequence 15% to €222.1 million.

(€m)	Q3		9 Months Change
			2013 2014 2013 2014		14/13
Montblanc		19.5 21.4		47.8 65.0	+36%
Lanvin		16.1 17.5		50.0 47.9	-4%
Jimmy Choo		16.9 20.8		44.0 42.0	-5%
Karl Lagerfeld	-	2.8	-	15.4	ns
Van Cleef & Arpels	4.5	3.6		14.2 12.8	-10%
Boucheron	6.4	2.9		12.3 10.7	-13%
S.T. Dupont	2.4	3.6	8.4	9.8	+17%
Paul Smith	3.4	2.2	7.7	7.2	-6%
Repetto	4.1	2.1	6.3	6.8	+8%
Balmain	0.5	1.1	2.0	4.2	ns
Misc.	-	0.3		0.3	ns
Recurring sales			73.8 78.3 192.7 222.1		+15%
Other *	0.4		- 100.0	-	ns
Total sales			74.2 78.3 292.7 222.1		ns

ns: Not significant * Burberry + Nickel.

Nine-month highlights by brand

ⁿ With €65 million in sales, up 36% from last year, Montblanc fragrances maintained rapid growth, driven by the continuing success of the first men's line Legend introduced in 2011, and further bolstered by the 2014 spring launch of the second men's line Emblem (€14 million at September 30);

• ⁿ Lanvin fragrances resumed its growth in the 2014 third quarter, after the slow start of the year impacted by the Russian market downturn and a high comparison base from the 2013 launch of the Lanvin Me line, with sales reaching nearly €48 million for the first nine months;
• ⁿ With the highly successful launch of Jimmy Choo Man, the brand's first men's line, Jimmy Choo fragrances grew 23% in the 2014 third quarter, thus limiting the decline of the Flash line, launched in 2013;
• ⁿ With initial shipments to distributors in mid-March of the first fragrance duo launched by the Group, Karl Lagerfeld fragrances had €15.5 million in sales, in line with budget;
• ⁿ Repetto fragrances grew 8% and are continuing to gradually build momentum, with an excellent performance in France, driven by the Eau de Parfum launch, one year after the Eau de Toilette.

Nine-month highlights by region

• ⁿ South and North America registered growth of 48% and 18% respectively, benefiting from the robust gains by Montblanc and Jimmy Choo fragrances;
• ⁿ With growth of 18%, Western Europe profited from the Karl Lagerfeld and Jimmy Choo fragrance line launches and the ongoing development of Montblanc fragrances;
• ⁿ Up 25% in the third quarter on gains by Montblanc and Jimmy Choo fragrances in particular, Asia returned to double-digit growth;
• ⁿ Reduced uncertainty in the Russian market contributed to renewed growth in Eastern Europe in the third quarter and steady sales overall for the first nine months.

Paris, October 23, 2014

Upcoming events

November 18, 2014 Publication of 2015 targets (before the opening of trading)

November 21 & 22, 2014 Actionaria trade show, Paris

Investor Relations and Analysts Contact

Philippe Santi Executive Vice President psanti@interparfums.fr +33 1 53 77 00 00

Press Contact

Cyril Levy-Pey Corporate Communications Manager clevypey@interparfums.fr +33 1 53 77 00 00

Shareholder information

+33 1 53 77 00 99

ISIN: FR0004024222-ITP Reuters: IPAR.PA Bloomberg: ITP Indices: CAC PME, CAC Mid & Small Eligible for PEA PME savings vehicles

Philippe Benacin, Chairman and CEO commented: "Based on third-quarter performances, and in particular the extremely promising launch of the Jimmy Choo Man line, we are able to confirm our target for annual sales of €280 million for the 2014 full year."

Philippe Santi, Executive Vice President and CFO added: "Recent positive foreign exchange trends, particularly for the Euro/US Dollar, will allow us to strengthen our marketing efforts on a case-by-case basis between now and year-end, while maintaining our full-year operating margin target of 10%-11%."