NEW YORK — Inter Parfums has announced that its Paris-based subsidiary, Interparfums SA — the prestige fragrance company and exclusive worldwide licensee for Burberry fragrance products — and its licensor, global luxury company Burberry Group, are in discussions regarding the establishment of a new operating structure for the Burberry fragrance and beauty business.
For nearly two decades, Interparfums and Burberry have developed a growing business. With prospects in both the fragrance and beauty categories, the two companies are exploring ways to work more closely together to realize the brand’s potential.
The companies indicated that, while there can be no assurance that an agreement will be reached, Burberry has exercised its right to evaluate the purchase price for the unexpired term of the existing license. In this process, Burberry has until July 31, 2012, to determine whether it wishes to buy out the unexpired portion of the license or continue the existing contract, which runs through Dec. 31, 2017.