Perfumania to acquire Parlux in $170 million deal
BELLPORT, N.Y. — Perfume and fragrance retailer Perfumania announced Friday that it will acquire Parlux Fragrances in a deal valued at $170 million.
Parlux, based in Fort Lauderdale, Fla., manufactures and distributes fragrances and beauty products, and is one of Perfumania’s largest trading partners.
"Parlux brings a wealth of products and expertise as a licensee, manufacturer and international distributor," Perfumania CEO Mike Katz said.
The deal is expected to close in the first half of 2012.
Letter to the Editor from Mitch Bowlus, ECRM
To Drug Store News and the industry at large:
As the year comes to a close, ECRM would like to express our collective gratitude for the industry’s support over the past year. I personally want to thank the many retailers, suppliers and brokers for their overwhelming expressions of encouragement, sympathy, and compassion directed to me personally and to all of us at ECRM during this difficult period. At a time of inexplicable tragedy for me, your collective support helped to keep our vision alive and I am forever grateful.
ECRM is excited about the new year. We have already sold out several of our earliest events and both retailer and supplier participation in our 2012 Q1 events has already surpassed 2011 attendance. In the spirit of Charlie, I am committed to ensuring that ECRM will continue to strive to exceed our customers’ expectations in every way.
Happy holidays from our ECRM family to yours.
Interparfums, Burberry Group consider new operating structure for fragrance, beauty business
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.