Contract manufacturer Parfum D'Image has reported high double-digit annual sales growth, defying the financial woes experienced by its competitor Cosi.
France-based Parfum D'Image, which makes perfumes and cosmetics on contract, posted sales of €25.99m for 2007, an increase of 27.7 per cent on last year.
The company's consolidated sales, without the impact of the acquisition of Essens, were still strong, increasing 22.1 per cent to €24.86m.
New contracts, notably with Carrefour and Galeries Lafayette boosted the company's sales figures in France.
In the UK, Superdrug, BHS and River Island began stocking the company's products and it also created a range for Laura Ashley and developed its relationship with Claire's.
Following a rapid expansion plan, Parfum D'Image also made its first inroads into the American market making €1.1m worth of sales after sealing deals with major distributors including TJMaxx, Jean Coutu and Rexall.
The company is also expects significant growth over the coming years.
Parfum D'Image is aiming to quadruple its sales to €100m in 2010 and is studying acquisition opportunities in Europe and the US to help it achieve this goal.
Meanwhile, fellow contract manufacturer Cosi was recently bought out by Budelpack after disappointing sales and the loss of an important American contract forced the company to make significant job cuts.
The UK-based company had similarly ambitious growth plans to Parfum D'Image.
Its failure to achieve these suggested that market players had been overoptimistic about the opportunities presented by contract manufacturing in the personal care segment.
The strong sales reported by Parfum D'Image may help dispel these fears.
Parfum D'Image reports its full financial results on 11 December