Although the company is headquartered in New York, the majority of its business comes from its European operations.
Third quarter sales were up 11.9 per cent at current exchange rates, reaching €72.8m.
New launches revive old brands
The launch of the new Van Cleef & Arpels’ fragrance Féerie, along with the Jeanne Lanvin line, helped keep sales strong, according to CEO Jean Madar.
In addition, the Burberry line continues to perform strongly achieving €127.9m worth of sales in the first nine months of the year, nearly two thirds of the €201.1m the company achieved across the portfolio in the period.
The company’s US operations were not as successful as its European business, although according to Madar, the figures for the quarter were negatively affected by a particularly strong third quarter last year.
“Third quarter sales by US operations rose a modest 4 per cent to $14.7m (€11.7m) from last year’s $14.2m. Of note, in last year’s third quarter, sales by US based operations reflected the rollout of Gap personal care products to their North American stores,” he said.
Looking to the future, despite the uncertain economic climate the company stands by its previously published target of €260m worth of net sales for the year.
New director on the board
In others news, the company has also announced the appointment of Mrs Chantal Roos as a new independent director.
Roos created and was president of Beauté Prestige International, a subsidiary of Shiseido created in 1990 to launch the Issey Miyake and Jean Paul Gaultier fragrances.
She joined the Gucci group in 2000 and became president of the Yves Saint Laurent Beauté division, before creating her own company in 2008.
Her appointment will be proposed at November’s meeting of the board of directors.