Coach fragrance a growing asset for Interparfums
today Nov 9, 2016
For 2017, French fragrance distributor Interparfums is forecasting a revenue of €380 million, equivalent to an 8% rise compared to the current fiscal year. The majority of sales should be generated by the group's heavyweight scents, such as those of the Montblanc, Jimmy Choo and Lanvin licences, but the list goes on.
Next year, the perfume licence of New York leather goods brand Coach, acquired by Interparfums in April 2015, is expected to account for 8% of the distributor's sales, compared to 5% in 2016. "Market feed-back is very positive for Coach," stated Philippe Benacin, CEO of Interparfums. The first women's fragrance by Coach under licence with Interparfums was launched last July, and produced sales of €12 million in three months. It is expected to reach €18 million in the course of the year.
In Italy, where the fragrance is sold exclusively by the Limoni perfumery chain, it now claims a 30% market share, with a unit sold every three days. In Russia, at Etoile, it ranked fourth in September sales, and was number one at Sephora in Singapore.
These are encouraging results, and in early 2017 the group plans to launch the fragrance in France (exclusively at Nocibé), in Germany and in Japan. The Coach brand is well-known in the USA and Asia, but the label, which generated a global revenue of $1.04 billion in the third quarter 2016, is yet to become established in many markets.
Interparfums hopes to achieve revenues of €32 million in 2017 for the Coach fragrance licence. In autumn 2017, the group will build out the range with the launch of a men's perfume. The leathergoods brand is currently generating 80% of its fragrance business with the women's line.
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