8-K
INTERPARFUMS INC (IPAR)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): December 1, 2020
InterParfums, Inc.**
(Exact name of Registrant as specified in its charter)
| Delaware | 0-16469 | 13-3275609 |
|---|---|---|
| (State or other jurisdiction of<br><br>incorporation or organization) | Commission<br><br>File Number | (I.R.S. Employer<br><br>Identification No.) |
551 Fifth Avenue, New York, New York 10176
(Address of Principal Executive Offices)
212. 983.2640
(Registrant’s Telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions (see General Instruction A.2 below):
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting Material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| --- | --- |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock, $.001 par value per share | IPAR | The Nasdaq Stock Market |
Item 7.01. Regulation FD Disclosure.
Our press release dated December 1, 2020 relating to 2021 initial guidance and factors affecting 2021 initial guidance, a copy of which is annexed hereto as Exhibit no. 99.1, is incorporated by reference herein, and is filed pursuant to this Item 7.01 and Regulation FD.
Item 9.01 Financial Statements and Exhibits
.
| 99.1 | Our press release dated December 1, 2020 |
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused and authorized this report to be signed on its behalf by the undersigned.
Dated: December 1, 2020
| Inter Parfums, Inc. | |
|---|---|
| By: | /s/ Russell Greenberg |
| Russell Greenberg, | |
| Executive Vice President | |
| and Chief Financial Officer |
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Exhibit 99.1

FOR IMMEDIATE RELEASE
INTER PARFUMS, INC. ANNOUNCES INITIAL2021 GUIDANCE
New York, New York, December 1, 2020**:**Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that it expects 2021 net sales to be in the range of $610 million and $625 million, resulting in net income attributable to Inter Parfums, Inc. per diluted share of between $1.20 and $1.25. Based upon the midpoint of both 2020 and 2021 guidance, this represents a 24.1% increase in net sales and a 49.1% increase in diluted earnings per share compared to 2020. Guidance assumes that the average dollar/euro exchange rate remains at current levels.
Jean Madar, Chairman & CEO of Inter Parfums, Inc. noted, “After a near suspension of new product introductions in 2020, we are jumpstarting our 2021 launch schedule with our Kate Spade signature scent, which previewed on Ulta’s online platform in mid-November, followed by Macys.com and katespade.com in mid-December. That is also when our ad campaign begins with actress, dancer and model Maddie Ziegler, the face of the brand’s new fragrance. Before 2020 year-end, the over 1,200 Ulta stores will begin selling the fragrance, and early in the new year, the scent will rollout in major U.S. department stores plus Amazon, and major European markets. Come the second quarter, distribution will include Asia, the Middle East and Latin America.”
Mr. Madar further noted, “Also in the first half of 2021, we have rollouts coming for our initial MCM women’s fragrance, Jimmy Choo’s I Want Choo, GUESS’s Bella Vita, the Canyon Ranch duo for Hollister, a new pillar for Abercrombie & Fitch, Oscar de la Renta’s Alibi and Driven by Dunhill. This is in addition to an extension for our largest brand, Montblanc, and its growing Legend family, as well as the relaunch of Lesedi La Rona collection under the Graff label. In the second half of the year, we have new women’s scents debuting for Lanvin, Rochas and the long-awaited introduction of Sky, by Anna Sui.”
Mr. Madar concluded, “After a subdued 2020 in terms of advertising and promotion, we are putting muscle behind our major brands and important launches in 2021. With the expectation of effective, safe and widely distributed Covid-19 vaccines, we look forward to regrowing our sales and restoring the operating leverage inherent in our business model, knowing that the road ahead may have some speed bumps along the way. Our plans for the future echo the past, namely to establish fragrance dynasties from among our best sellers, continually refresh our brands by developing and launching new products, add new licenses that fill an untapped opportunity within our portfolio, and expand the distribution of our products, especially through e-commerce.”
Founded in 1982, Inter Parfums, Inc. develops, manufactures and distributes prestige perfumes and cosmetics as the exclusive worldwide licensee for Abercrombie & Fitch, Anna Sui, Boucheron, Coach, Dunhill, Graff, GUESS, Hollister, Jimmy Choo, Karl Lagerfeld, Kate Spade New York, MCM, Moncler, Montblanc, Oscar de la Renta, Paul Smith, Repetto, S.T. Dupont and Van Cleef & Arpels. Inter Parfums is also the owner of Lanvin fragrances and the Rochas brand. Through its global distribution network, the Company’s products are sold in over 120 countries.
| Inter Parfums, Inc,<br><br>December 1, 2020 | Page 2 |
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Statements in this release which are not historical in nature are forward-looking statements. Although we believe that our plans, intentions and expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such plans, intentions or expectations will be achieved. In some cases you can identify forward-looking statements by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "will," and "would," or similar words. You should not rely on forward-looking statements, because actual events or results may differ materially from those indicated by these forward-looking statements as a result of a number of important factors. These factors include, but are not limited to, the risks and uncertainties discussed under the headings “Forward Looking Statements” and "Risk Factors" in Inter Parfums' annual report on Form 10-K for the fiscal year ended December 31, 2019, the Quarterly Report on Form 10-Q filed for the third quarter of 2020 and the additional reports Inter Parfums files from time to time with the Securities and Exchange Commission. Inter Parfums does not intend to and undertakes no duty to update the information contained in this press release.
| Contact at Inter Parfums, Inc.<br><br> <br>Russell Greenberg, Exec. VP & CFO<br><br> <br>(212) 983-2640<br><br> <br>rgreenberg@interparfumsinc.com<br><br> <br>www.interparfumsinc.com | -or- | Investor Relations Counsel<br><br> <br>The Equity Group Inc.<br><br> <br>Fred Buonocore (212) 836-9607/fbuonocore@equityny.com<br><br> <br>Linda Latman (212) 836-9609/llatman@equityny.com<br><br> <br>www.theequitygroup.com |
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