US-based Parlux Fragrances Inc., a manufacturer and international distributor of prestige products, held its annual meeting of shareholders on October 12, 2010. During the meeting, Purches, Chairman and CEO, Parlux, said, “For the current fiscal year of 2011, we are forecasting lower net sales than the previous comparable year. If we eliminate our expired license, GUESS, from the prior year, we anticipate an increase of approximately 15 percent to $125 million in net sales in the current year. Keeping our focus on profitability, we have cut back new product launches, and advertising/promotional spending, which was reduced by 35 percent this current year. We expect to return to profitability this year.” Parlux Fragrances holds licences for Paris Hilton, Jessica Simpson, Rihanna and Kayne West amongst others.
Posted on: 27.10.2010