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2008 : Forecasts unchanged
In a particularly difficult economic and foreign
exchange environment, the year-end outlook for 2008 provides a number of reasons for satisfaction:
• Burberry fragrances achieved good results driven by
the successful worldwide launch of the new women’s
line Burberry The Beat and the strength of the brand’s
existing lines
• Lanvin fragrances also performed well, particularly in
the second half, with steady sales by Eclat d’Arpège and
the launch of the Jeanne Lanvin line
• Van Cleef & Arpels’ sales largely exceeded forecasts in
response to solid performances by the First line and the
very successful launch of the Féerie line, the Group’s
first creation under this brand.
Based on very satisfactory sales for the fall season,
the Group maintains its target for 2008 full-year sales of €260 million.
2009 : Continued growth expected
Growth will be sustained by major launches in the
coming year with a particular focus on men’s fragrances:
• Burberry The Beat for men
• Lanvin L’Homme Sport, to be developed around the
image of the world’s number one tennis player, Rafael
Nadal
• Paul Smith Man
• Quiksilver
Paris, November
Paris, November 24, 2008
Philippe Benacin, President and Chief Executive Officer declared:
“Reflecting mixed performances in the worldwide market
for fragrances and cosmetics, we have set cautious sales growth targets for 2009 limited to 5% compared with 2008.
We nevertheless possess significant competitive advantages for continued expansion in the years ahead: a high-quality portfolio
of premium international brands, a long-term strategy based on both classic fragrances and new lines, recognized expertise and
well-managed growth”.
Philippe Santi, Executive Vice President added:
“The Group has a particularly solid balance sheet with shareholders’ equity
of €150 million and marginal net debt of approximately €10 million. An additional strength to pursue potential acquisition
opportunities.” |
