Inter Parfums signs its second license agreement in a month
The company confirmed that it has signed a 10.5 year exclusive world licensing rights to handle the company’s fragrance creation, production and distribution for the luxury London-based lingerie brand.
According to the two companies, the agreement will start on August 1st, 2013 and will finish on December 31 2023, in a deal that was brokered by financial advisor Financo on behalf of Inter Parfums USA.
Development work will start on the fragrance line as soon as the contracts commences, and the first fragrance is expected to hit store shelves in 2014, featuring Agent Provacateur branding design on the packaging.
Revamping the exisitng Agence Provacateur portfolio
On top of the development aspect of new fragrances, Inter Parfums will also take on the distribution of selected fragrances within the portfolio, as well as working on plans to revitalize the existing signature fragrance Agent Provacateur.
Currently the brand is sold worldwide in 26 countries, including more than 80 select retail outlets, including a number of its own boutique stores and upscale department stories.
The company is planning on increasing its worldwide footprint for the complete portfolio of products, but says it particularly wants to focus on the fast rate of growth for luxury brands in the Asia Pacific region.
Inter Parfums continues to add to its license portfolio
Earlier in the month Inter Parfums USA signed an exclusive licensing agreement through its Hong Kong subsidiary with leading China luxury brand Shanghai Tang, which comes alongside another major license agreement signed with Alfred Dunhill, last year.
The agreement is a 12 year exclusive worldwide license and was signed at the beginning of July, with the first fragrances expected to appear on store shelves in the spring of 2014.
The deal will license Inter Parfums USA Hong Kong Limited to create, produce and distribute perfumes that bear the iconic luxury brand name.
Shanghai Tang was founded in Hong Kong in 1994 and has since been established as one of the leading luxury Chinese brands to emerge after the territory was given independence from the UK in 1997.
Financial results show hit from loss of Burberry license
Only last week Inter Parfums reported a significant drop in its sales, although this was expected as it is the first quarter that Burberry sales were not included in the results, and sales of other fragrances show strong growth.
The company said that group sales fell by 19.3 percent, from $145.6m in the corresponding period last year to $117.5m, which was largely on account of lost Burberry sales in the European market.
This figure included discontinued Burberry brand sales of $20.6m, and represented existing sales inventory and some authorized sell-offs of branded finished goods.