Inter Parfums has announced that its 74 percent owned Paris-based subsidiary, Inter Parfums SA, has signed a 15 year exclusive worldwide license agreement with Boucheron.
The New York-based perfume and cosmetics manufacturer has entered into the agreement with Boucheron to create, produce and distribute perfumes and ancillary products under the Boucheron brand.
The agreement will commence on January 1, 2011 and replaces a previous license with L’Oreal that was terminated by mutual consent.
Boucheron a welcome addition to fragrance portfolio
“We are very pleased to welcome Boucheron fragrances as the latest addition to our portfolio of top-end luxury brands,” said Philippe Benacin, CEO of Inter Parfums SA.
“I believe that together we will be successful in creating new inspiring products. Boucheron is an incredible brand that will contribute to our continuing strategy for developing the ultra-luxury sector,” Philippe Benacin, CEO of Inter Parfums SAhe continued.
The transfer of inventory will take place early in 2011 and the development of a new fragrance is planned for 2012.
Distribution managed through subsidiaries
With its French subsidiary handling Europe, it has been decided that Inter Parfums Luxury Brands, a recently formed US subsidiary of Inter Parfums SA, will handle distribution of the brand in the U.S.
Commenting on the agreement, Jean-Christophe Bédos, CEO of Boucheron, declared: “This is an exciting opportunity for Boucheron and Inter Parfums as we seek a new strategic direction for our fragrances and build on the Boucheron's unique position in the jewelry world.”
“Boucheron has been a prestige brand for over 150 years with a reputation for trendsetting in luxury jewelry. I'm certain that this adventure will continue with Inter Parfums.”