2011 letter to shareholders

2011 letter to shareholders
Friday, November 18^th, 2011

Dear Shareholders,

For the first time in its history, in 2011 Interparfums has reaped benefits within the same year from three major launches that have generated nearly €100 million in additional sales compared to 2010.

- Burberry Body, a new women's line supported by very substantial marketing and advertising resources with strong visuals in all markets on a scale without precedent by the company to date and considerable confidence by our major distributors;

- Jimmy Choo, a first women's line with sales largely exceeding initial forecasts and high post-launch demand for restocking that has established its position as a powerful growth driver for the Group;

- Montblanc Legend, a new men's line with sales that also exceeded expectations, combined with steady performances by lines integrated into the portfolio at the end of 2010, has created another Group growth driver.

Two other noteworthy achievements also contributed to the Group's performance:

- work over the last six years to renew the Lanvin fragrance offering has been successful in building a solid and sustained base for growth with three fragrance lines providing steady sources of revenue (Éclat d'Arpège, Jeanne Lanvin and Marry Me !);

- the Van Cleef & Arpels fragrance activity has been successfully consolidated after two years devoted to repositioning the brand in the exclusive high end segment through several launches;

Finally, the creation of the US subsidiary Interparfums Luxury Brands and the partnership arrangement with Clarins Group since January 1, 2011 has expanded the presence of all brands and generated strong sales growth in the United States, the Group largest market.

All these factors provide a basis for confidence in the year-end outlook and raising our full year forecasts for sales, now expected to reach the €360-€370 million range or growth of 20% over 2010.