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Inter Parfums, Inc. Closes Agreement to Become the Exclusive Worldwide Fragrance Licensee for Donna Karan and DKNY Brands
NEW YORK--(BUSINESS WIRE)-- Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that it has closed its agreement with G-III Apparel Group, Ltd, to become
About this update from Interparfums, Inc.
[{"type":"text","content":" NEW YORK--(BUSINESS WIRE)--\nInter Parfums, Inc. (NASDAQ GS: IPAR) today announced that it has closed its agreement with G-III Apparel Group, Ltd, to become the exclusive worldwide licensee for the Donna Karan and DKNY fragrance brands as of July 1, 2022.\n\nJean Madar, Chairman and Chief Executive Officer of Inter Parfums, Inc., stated, “We are excited to complete this transaction with these established and valuable fragrance brands, Donna Karan and DKNY. These brands not only have a strong legacy following, but also include superior fragrances recently awarded as “Best Fragrance of All Time” and “Greatest Fragrance of All Time.” Also, Donna Karan Cashmere Mist has a strong brand heritage that has consistently ranked as a Top 25 fragrance in the United States. Additionally, the Cashmere Mist deodorant is the #1 luxury fragrance selling body product in both the United States and Canada. DKNY Be Delicious has established itself as a global blockbuster since its launch in 2004. As a part of the signed licensed agreement previously announced in October 2021, we have already initiated developing strategic advancements and product lines, with an expectation to launch new fragrances under these brands in 2023.”\n\nMorris Goldfarb, Chairman and CEO of G-III Apparel Group, Ltd., parent of the Donna Karan and DKNY brands, stated, “We are proud of our brands’ best-in-class fragrances that have extended their reach beyond fashion by connecting to a broader range of consumers globally. Inter Parfums’ exceptional capability to develop fragrances and enhance portfolios with their significant worldwide distribution will work hand-in-hand with us to position Donna Karan and DKNY for further global expansion. We’re looking forward to our partnership with Inter Parfums to grow these businesses together.”\n\nAbout G-III Apparel Group, Ltd.\nG-III designs, sources and markets apparel and accessories under owned, licensed and private label brands. G-III’s substantial portfolio of more than 30 licensed and proprietary brands is anchored by five global power brands: DKNY, Donna Karan, Calvin Klein, Tommy Hilfiger and Karl Lagerfeld. G-III’s owned brands include DKNY, Donna Karan, Karl Lagerfeld, Karl Lagerfeld Paris, Vilebrequin, G.H. Bass, Eliza J, Jessica Howard, Andrew Marc, Marc New York and Sonia Rykiel. G-III has fashion licenses under the Calv...