That's pretty ambitious Wayne. I'm not inclined to forecast those kind of figures, but don't get me wrong, I would feel especially gratified if Parlux managed that kind of growth. I select companies based on what they've done in the past and what they're about presently compared to others in their industry. If I consider the company a bargain I buy, and if I don't then I won't. I buy shares of a company just like any other product. The particulars of the future are pretty much beyond my analysis once I'm convinced that I can expect the company to remain in business and do at least as well as in the past.
Parlux is by far the best bargain I have ever had the privilege of buying and if the stock falls to $3.50 before the end of the month (without negative news to warrant it), I'll buy more of it. I thought Kmart at $5.50/sh, AORI at $6.00/sh, and Rally's at $1.75/sh were great buys but these were lightweight goodies compared to Parlux. This company is grossly, even offensively, undervalued and I'm hang'in with it.
I recently received my second quarter report and included in the package was an article published in October by "Women's Wear Daily" of which I was yet unaware.
Parlux has teamed up with Lord West, the licensee for [Perry Ellis] formal wear, to produce Perry Ellis Reserve- a scent that will be distributed only in tuxedo shops. While Parlux handled the creation of the fragrance and packaging, Lord West's staff will take care of the sales and marketing. "It occurred to us that we had a potential market here," said Edward S. Kaminow, president and chief executive officer of Lord West, noting that he then approached Parlux with the idea of doing a fragrance.
Lord West's Perry Ellis tuxedos are sold to a network of 3,000 formal shops, which in turn rent the outfits. Perry Ellis Reserve will have a preview launch in 500 of those doors in time for Christmas, rolling out to the remainder in the spring. The fragrance will be presented to foreign markets by next fall, with particular emphasis on Ireland and the U.K.
Parlux, meanwhile, is undertaking the global rollout of its Perry Ellis America brand, which features one fragrance for women and one for men. The scents are in 34 countries now, and will reach 65 by summer. According to Jeffrey Dame, America launched here July 4, should have worldwide wholesale volume of $24 million through March. It's doing well here and booming in the Middle East and Asia," he said. "We're hitting our objectives."
Considering this information along with that mentioned in past replies, we should fair very well in 1997. I own Perry Ellis for Men and I purchased Todd Oldham for Women for my wife. Both are great fragrances. |
