Two thousand eight results

- 2 -2008 Results

2008 year in reviewAnnual salesAnnual earnings2009 & 2010 launches2009 outlook

Contents

- 3 -2008 Results

Another year of sales growthAnnual sales of €264.9 million at current exchange rates (+9%)

Annual sales of €276.4 million at constant exchange rates (+14%)

Targets exceeded for main brands

Successful launches

Further earnings growthOperating profit: €34.2 million (+8%)

Net income: €21.1 million (+5%)

A balance sheet that remains solid

Operating highlightsSatisfactory annual performances …

- 4 -2008 Results

Particularly unfavorable foreign exchange trends

A very severe worldwide economic downturn

A change of partner in Spain

Operating highlights…despite adverse factors

- 5 -2008 Results

2008 sales: €169 million▫ +10.5% at current exchange rates

+16.3% at constant exchange rates

Launch of a new women’s line Burberry the Beat

Resilient sales by the Burberry Brit line

Limited contraction by the brand’s historic lines

Burberry

- 7 -2008 Results

2008 sales: €39 million (+17%)

Launch of the Rumeur 2 Rose line in the spring

Good performance by the Éclat d’Arpège line in the second half

Launch of the Jeanne Lanvin line in the fall

Lanvin

- 9 -2008 Results

2008 sales: €21 million (+77%)

Launch of the First Premier Bouquet line in the spring

Good performances by the First line

Launch of the Féerie line in the spring

Good level of sales in France (€8 million)

Van Cleef & Arpels

- 10 -2008 Results

- 11 -2008 Results

2008 sales: €13.4 million (-25%)

Steady performance by the Paul Smith Rose line

Contraction of sales by all other lines of the brand

Paul Smith

- 12 -2008 Results

2008 sales: 11.5 € million (+3%)

A decline in sales, particularly in Russia

Launch of the Passenger line

Concentration of sales in the Middle East and Eastern Europe

S.T. Dupont

- 14 -2008 Results

2008 sales: €7.4 million (+12%)

Mixed performances for initial order renewals for the Roxy et Roxy Love lines

Delayed launch for the Quiksilver men’s fragrance line

Roxy / Quiksilver

- 16 -2008 Results

2008 sales: €2.7 million (-20%)

Major redesign of the brand’s key features

Launch of Silicon Valley by Night, Super Clean Soft

New advertising visual

Nickel

Annual earnings

- 18 -2008 Results

BurberryLanvinVan Cleef & Arpels Paul SmithS.T. DupontQuiksilver/RoxyNickelChristian LacroixOtherTotal

169.039.021.013.411.57.42.71.3

(0.3)264.9

152.933.311.918.011.16.63.33.91.1

242.1

+10%+17%+77%-25%+3%

+12%-20%-67%

ns+9.4%

(€ million) 2007 2008 08/07

Sales by brand

- 19 -2008 Results

AfricaNorth AmericaSouth America AsiaWestern EuropeEastern EuropeMiddle EastFranceTotal

2.249.617.833.985.326.324.225.6

264.9

2.048.815.331.683.320.518.721.9

242.1

+10%+2%

+16%+7%+2%

+28%+30%+17%

+9.4%

(€ million) 2007 2008 08/07

Sales by region

- 20 -2008 Results

North America18% (20%)

Western Europe32% (34%)France

10% (9%)

Middle East9% (8%)Africa

1% (1%)

Eastern Europe10% (9%)

Asia13% (13%)

South America7% (6%)

2008 (2007)

Sales by region

- 21 -2008 Results

Other3% (3%)

Euro55% (54%)

US Dollar34% (33%)

Pounds Sterling8% (10%)

Sales by currency

- 22 -2008 Results

Currency Average exchange rate Average exchange rate Currency2007 2008 effect

€ / $€ /£€ / Yen

1.370.69170

1.500.79167

-€8.6 mn-€3.3 mn

+€0.4 mn

A net impact on sales of €11.5 million

Sales of €276.4 million at constant exchange rate

A net impact of 4.8% of growth on sales

Sales by currency

- 23 -2008 Results

2007 sales

€242.1 mn

Price/Volumeeffect

+14.2%

Currency effect

-4.8%

2008sales

€264.9 mn

+ 9.4%

Analysis of sales

- 24 -2008 Results

(€ million) 2007 2008 08/07SalesGross margin

% of salesLogisticsSelling & advertising expensesRoyaltiesStaff costs (excluding production)

Subsidiary operating costsOtherOperating profit

% of sales

242.1147.4

60.9%(8.0)

(42.4)(25.7)(13.3)(9.2)

(17.0)31.8

13.1%

264.9152.5

57.6%(8.2)

(44.6)(25.2)(14.1)(9.9)

(16.3)34.3

12.9%

+9%+4%

+3%+5%-2%

+6%+7%-4%

+8%

Income statement

- 25 -2008 Results

(€ million) 2007 2008 08/07Operating profit

% of salesNet financial expenseIncome taxIncome before minority interestsMinority interestsNet income

% of sales

31.813.1%(0.8)

(11.2)19.80.4

20.28.3%

34.312.9%

(2.7)(11.0)

20.60.5

21.18.0%

+8%

ns-1%

+4%ns

+5%

Income statement

- 26 -2008 Results

(€ million) 2007 2008 08/07Trademarks and fixed assetsInventoriesTrade receivables and related accountsOther receivablesCash and cash equivalentsTotal

72.756.375.66.5

56.1271.5

69.770.880.011.126.3

262.1

-4%+26%+6%

+71%-53%-3%

Consolidated balance sheetAssets

- 27 -2008 Results

(€ million) 2007 2008 08/07Shareholders’ equityBorrowingsTrade payables and related accountsOther payablesTotal

133.940.565.227.6

271.5

155.730.152.919.3

262.1

+16%-26%-19%-30%-3%

Consolidated balance sheetLiabilities

- 28 -2008 Results

(€ million) 2007 2008Cash flow from operating activities

Change in inventories

Change in trade receivables

Change in other receivables

Change in payables

Change in other liabilities

Change in working capital needs

Net cash provided by operating activities

23.0

(15.0)

(4.8)

2.2

(12.3)

(5.4)

(35.3)

(12.5)

18.5

(16.0)

6.6

(0.5)

18.0

(1.9)

6.1

24.6

Cash flow highlights

- 29 -2008 Results

(€ million) 2007 2008

(0.8)

(2.1)

0.5

(2.4)

-

(11.1)

(4.6)

0.6

(15.1)

Acquisitions of intangible assets

Acquisitions of property, plant and equipment

Other changes

Net cash flows provided by financing activities

Issuance of borrowings and new debt

Debt repayments

Dividends

Other

Net cash from financing activities

(39.1)

(0.3)

(3.5)

(42.9)

40.0

(7.6)

(4.2)

2.0

30.3

Cash flow highlights

- 30 -2008 Results

(€ million) 2007 2008(29.8)

56.1

26.3

Change in net cash

Opening cash and cash equivalents

Closing cash and cash equivalents

12.0

44.1

56.1

Cash flow highlights

- 31 -2008 Results

Dividend▫ €0.38 per share▫ +10.5% over 2007▫ 24% of 2008 consolidated income▫ A total distribution of €5.2 million▫ Dividend payment date: April 30, 2009

Bonus share issue▫ For the tenth consecutive year▫ 1 new share for every 10 held▫ Programmed for early June 2009

Dividend and bonus share issue

- 32 -2008 Results

72 internal control audits conducted in 65 risk areas

A campaign of tests conducted in November 2008

Inter Parfums team of 3 over four weeks

Ernst & Young review

7 not material deficiencies identified

A “Remediation” Plan developed early 2009

Mazars/Fiducia review confirmed the company’s conclusions

Internal control

- 33 -2008 Results

Bonus share issue on May 6, 2008▫ 1 new share for every 10 shares held

Number of shares at December 31, 2008▫ 13,391,980

Number of stock options outstanding at December 31, 2008▫ 514,089

Capital

- 34 -2008 Results

2009 financial calendar

2009 first-quarter salesApril 23, 2009 (after the close of trading)

2009 General MeetingApril 24, 2009 - Pavillon Gabriel, Paris (2:00 p.m.)

2009 first-half salesEnd of July 2009 (after the close of trading)

- 35 -2008 Results

Another year of earnings growth

Margins remain at high levelsOperating margin of close to 13%Net margin of 8%

A solid balance sheetShareholders’ equity : €155 millionNet debt: €4 million

Tight control over expenses through a flexible business model

Earnings highlights

- 36 -2008 Results

Burberry: The Beat for Men (spring 2009)

Lanvin: Lanvin L’Homme Sport (spring 2009)

Quiksilver: Quiksilver (spring 2009)

Van Cleef & Arpels: Féerie Eau de toilette (spring 2009)

Paul Smith: Paul Smith Men (summer 2009)

Van Cleef & Arpels: Collection Extraordinaire (fall 2009)

2009 launchesMany initiatives planned

MARCH 2009

THE INSPIRATION

FOR N

Christopher Bailey’s definition of the Burberry menswear: perfectly cut, unexpected, modern, for a rebellious edgy dandy

The British youth movement that embodies this blend of British heritage and edgy modernity and inspired Burberry The Beat for Women

A modern masculine attitude fueled with the energy and rhythm of music, the dynamism of trends and fashion

THE CONCEPT MODERN

BRITISH HERITAGEEDGY DANDY

REBELLIOUS

THE BEAT as the pulse & vibration of trends.A product that inherited the true appeal of contemporary Burberry Menswear

THE BEAT in music: the imperceptible harmony.A fragrance inspired by the energy that creates the shared common link within a group of friends, a band, an artistic movement.

THE BEAT as mirror of the modern Burberry Masculinity.A mix of edgy influences, modern inspiration and heritage.

A Fragrance that symbolizes a successful fusion of complementary assets, individualities and strong values which are key components of Burberry today

THE SCENT

STYLE, SEXINESS AND RHYTHMAn addictive woody fragrance with a beat of energy.

The unique sensuality of leatherwood. The timeless elegance of vetiver bourbon. The vibrant association of cedrat, black pepper and violet leaves creating a burst of pulsing freshness.

LEATHERWOOD LMRAn exclusive ingredient characterized by a distinctive sexiness. A smoky and textured woodiness tinted with leathery accents. A carnal and magnetic addiction bending tradition with a touch of rebellion.

VETIVER BOURBONA legendary wood. A fragrant ambivalence - dry and wet, cold and warm, rough and noble - giving birth to an unmistakable style. The signature of a British timeless elegance.

ENERGY ACCORD (Cedrat, Black Pepper, Violet Leaves)Vibes of energy running through the fragrance. The juicy and sparkling thrill of cedrat. The vibrant and sharp flash of black pepper. The green and lively pulse of violet leaves. The expression of Burberry’s sleek and avant-garde allure.

FOR MEN

FLACON & ETUI

Masculine shinny gun-metalfinishings and intense back check decoration on both outer packaging and bottle

Matchbox-like opening with shinny gun metal silver tray glorifying the bottle

Waxed cotton strap with shinny gun-metal clip and engraved Burberry logo

THE RANGE

FOR MEN

Eau de Toilette 100ml 3.4 FL.OZEau de Toilette 50ml 1.7 FL.OZEau de Toilette 30ml 1 FL. OZ

After Shave 100ml 3.4 FL.OZ

Soothing After Shave Balm 150ml 5 FL.OZEnergizing Shower Gel 150ml 5 FL.OZDeodorant Stick 75g 2.5 OZ

THE AD VISUAL

45

46

The designersAlber Elbaz & Lucas Ossendrijer

Since 2006, alongside Alber Elbaz, Lucas Ossendrijer has been restoring the prestige of this venerable House in the area of men’s fashion.

47

Lanvin Style Male elegance

Lanvin asserts its style.There is an evident elegance and subtle stylishness. Materials are original and thought out with anendless attention to detail and search for design comfort.

48

1997LANVIN L’HOMME IS BORN

ConceptThe perfection of simplicity

FragranceWoody Floral FruityA feeling of freedom and freshness toaccompany the Man through the day.

49

With its pure and simple lines, the cut is faithful to tradition.

A sense of modernity in its graphism and color.For the occasion, a soft touch navy blueEffect acts as a reference to the sporting theme.

The cover, with its patented arch,and the metallic stopper are in matt silver.

A Contemporary Bottle

50

The deep blue box is both sober and elegant. The blue/whitecontrast illustrates the sportingtheme and is reminiscent of theproduct’s male universe.

A modern,masculine box

51

The packshot

52

The olfactory compositionLanvin L’Homme Sport, a fresh eau decologne that is both modern and textured,distinguished and elegant.

Lanvin L’Homme Sport retranslates perfectly the dynamism and the energy of an intense match.

The power of rallying is illustrated by the sparkling and fizzy freshness of bergamot.

Ace!

The tennis ball skims the net and slams energetically, like the exhilarating petit grain mandarinier green notes.

Match Point! Advantage!

The last smatch breaks the victory of white musks.

Lemon from ItalyBergamot from ItalyPepper

LavenderPetit grain MandarinierClary Sage

Indonesian PatchouliMuskMoss

53

The communication

54

Shower Gel3.3fl.oz. Tube

After-Shave Balm3.3fl.oz. Tube

After-Shave Balm3.3fl.oz. Natural Spray

EDT1.7fl.oz. Natural Spray

EDT3.3fl.oz. Natural Spray

EDT3.3fl.oz. Natural Spray

The range

- 55 -2008 Results

- 57 -2008 Results

- 60 -2008 Results

Burberry: Burberry Sport - fragrance line

Burberry: first make-up line

Van Cleef & Arpels: Bague – new fragrance line (women)

Lanvin: new fragrance line (women)

Paul Smith: new fragrance line (women)

Quiksilver: new fragrance line (men) - to be confirmed

2010 launchesAn eventful programme for development…as well

- 61 -2008 Results

(€ million) 2008 2009(e) 09/08BurberryLanvinVan Cleef & Arpels Paul SmithS.T. DupontQuiksilver/RoxyNickelChristian LacroixOtherTotal

173.040.022.014.012.09.03.00.00.0

273.0

169.039.021.013.411.57.42.71.3

(0.3)264.9

+2%+3%+5%+4%+4%

+22%+11%

nsns

+3%

2009 sales