Interparfums, Inc., the fragrance company based in New York, has revealed its financial outlook for 2021, projecting a significant increase in diluted earnings per share (EPS) compared to a challenging 2020. The company forecasts an EPS ranging from $0.80 to $0.84 for fiscal 2020, and expects this figure to rise to between $1.20 and $1.25 in 2021, representing a 49.1% increase. Furthermore, Interparfums predicts that its full-year net sales for 2021 will be between $610 million and $625 million, a 24.1% increase from the projected net sales of $495 million to $500 million for 2020.

The impact of the Covid-19 pandemic forced Interparfums to suspend the majority of its new product launches in 2020. However, the company has an extensive lineup of new fragrance releases planned for 2021. The chairman and CEO of Interparfums, Jean Madar, has announced that the fiscal year will commence with the launch of the Kate Spade signature scent. The fragrance, endorsed by dancer and model Maddie Ziegler, was previewed on the Ulta e-commerce platform in November and will become available on Macy’s and Kate Spade websites in mid-December. It will also be stocked in over 1,200 Ulta stores by the end of the year, followed by expansion into other U.S. department stores, Amazon, and key European markets. The fragrance will then be introduced in Asia, the Middle East, and Latin America in the second quarter of 2021.

In addition to the Kate Spade launch, Interparfums has a robust release schedule for the first half of 2021, including new fragrances for popular brands such as MCM, Jimmy Choo, Guess, Hollister, Abercrombie & Fitch, Oscar de la Renta, and Dunhill. The company’s largest licensee, Montblanc, will also receive an extension for its fragrance line. The second half of the year will see the debut of new women’s fragrances for Lanvin, Rochas, and Anna Sui. Madar emphasizes the importance of advertising and promotion for these launches, aiming to make a strong comeback in 2021. He expresses optimism regarding the potential for effective Covid-19 vaccines, as they could contribute to the recovery of sales and restore the company’s business model.

To ensure future growth, Interparfums plans to leverage its best-selling fragrances and establish fragrance dynasties. The strategic approach involves expanding and refreshing its product offerings, launching new products for existing brands, and adding new licensees. Additionally, Interparfums aims to expand its distribution channels, with a focus on e-commerce.

In the third quarter of 2020, Interparfums reported a decline in net sales to $160.6 million, a 16.0% decrease compared to the same period last year. Net income also fell by 20.7% to $16.5 million, with diluted EPS decreasing by 21.2% to $0.52.

Despite the challenges faced in 2020, Interparfums remains optimistic about the future. The company is confident that its strategic initiatives and product launches in 2021 will drive growth and recovery.

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