Inter Parfums reports Q4 sales
NEW YORK — Fourth-quarter net sales for Inter Parfums experienced a slight decline to $11.2 million, compared with $112.9 million in the year-ago period.
Sales from the company’s European-based operations dropped to $95.5 million during the quarter, which ended Dec. 31, 2010, from $96.3 million during fourth quarter 2009. U.S. operations, however, increased 2%, bringing the sales total to $17 million.
“The economic rebound, coupled with several major new product launches, produced meaningful sales growth across all major prestige brands and in all geographic regions in 2010," said Inter Parfums EVP and CEO Russell Greenberg. "For our U.S.-based operations, 2010 sales growth was also spurred by the economic recovery, as well as new product launches and greater international distribution of the specialty retail brands for which we develop, produce and sell.”
Looking ahead, Inter Parfums confirmed its guidance for 2011, projecting sales of about $525 million, while net income is expected to total approximately $30 million, or 98 cents per diluted share.
Solazyme’s Algenist line coming to Sephora, QVC
SOUTH SAN FRANCISCO, Calif. — Solazyme will launch its anti-aging skin care line through distribution at Sephora and QVC.
Algenist will be available in the United States on QVC and in 800-plus Sephora stores, as well as in seven countries throughout Europe, before expanding to Asia and the Middle East, Solazyme said.
Algenist will launch with four initial product offerings featuring alguronic acid, Solazyme’s breakthrough ingredient. The four products are:
Algenist concentrated serum, which minimizes the look of wrinkles and boosts skin radiance;
Algenist anti-aging moisturizer and anti-aging moisturizer with SPF 20, which nourish and moisturize skin, improve firmness and minimize the appearance of fine lines and wrinkles; and
Algenist complete eye renewal balm, which firms skin while minimizing the appearance of fine lines around the eye area.
P&G’s Christopher de Lapuente heads to Sephora
PARIS — The president of Procter & Gamble’s global hair care business is taking on a new role at Sephora.
Effective March 31, Christopher de Lapuente will end his 28-year career at P&G to become the global president and CEO for beauty retailer Sephora, which is owned by luxury group LVMH. All regions worldwide will report to him. For European operations, de Lapuente succeeds Jacques Levy.
In addition to his responsibilities as global president and CEO for Sephora, de Lapuente also will be a member of LVMH’s executive committee.
"Joining LVMH as a member of the executive committee and head of Sephora, Christopher de Lapuente will bring to the group a wealth of international experience; his know-how will be a precious asset for the global growth of Sephora and add to the continued success of LVMH," said Bernard Arnault, LVMH founder, chairman and CEO.