The headline: Western Europe drives strong profits growth for French fragrance manufacturer
Key numbers: Net income rose +10% to €8.8m (US$9.5 million) for 2002, a 10% increase on 2001. 2002 turnover rose +5% to €93.4 million (US$100.6 million). Western Europe (+32%) led the growth, said International Cosmetique News. North America saw a -30% decline while South America dropped -25%. Prestige fragrance 2002 sales grew +11% on 2001 with Burberry up +9% and ST Dupont down -11%. Paul Smith dropped -21% while Céline soared +62%.
Comment: Christian Lacroix scored a big success with the launch of Bazar in 2002. A sustained product launch schedule has been set for 2003 for the Celine and Christian Lacroix brands and most importantly for Burberry with a new feminine line “very much in tune with the brand’s image”. Having posted good results in the second half of last year, and with 2003 off to a good start, management is confident that the company can meet its full-year sales target of €103 million (US$110.9 million).
