Business
Interparfums SA Completes the Acquisition of Its Future Headquarters in Paris
NEW YORK--(BUSINESS WIRE)-- Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that its majority owned Paris-based subsidiary, Interparfums SA, has
About this update from Interparfums, Inc.
[{"type":"text","content":" NEW YORK--(BUSINESS WIRE)--\nInter Parfums, Inc. (NASDAQ GS: IPAR) today announced that its majority owned Paris-based subsidiary, Interparfums SA, has completed the acquisition of its future headquarters at 10 rue de Solférino in the 7th arrondissement of Paris from the property developer, Apsys. This is an office complex combining three buildings connected by two inner courtyards, a large part of which was the French Socialist Party’s former headquarters, which consists of approximately 40,000 total sq. ft.\n\nThis new headquarters will make it possible in spring 2022 to house all teams at a single site, contribute to a new more flexible and convivial work organization, and provide a showcase of excellence for all the company’s partners.\n\nThe €125 million (approximately $149 million) purchase price for this building, is in line with market values, includes the complete renovation of the site and is financed by a 10-year €120 million (approximately $143 million) bank loan to take advantage of low current interest rates.\n\nSpearheaded by the architectural firm Jean-Paul Viguier & Associés, this redevelopment project combines state-of-the-art restoration with a high level of comfort and performance in terms of energy, temperature control, acoustics and domotics, reflecting a demanding environmental strategy for obtaining BREEAM (1) and HQE (2) certifications.\n\nPhilippe Benacin and Jean Madar, the co-founders of Interparfums commented: “This purchase is an exceptional opportunity. These new headquarters will allow us to pursue our development within an incomparable setting at a prestigious address that perfectly fits our brand portfolio.”\n\nFabrice Bansay, Apsys Group CEO added: “Our vision for the “10 Solférino” property was to create a showcase for new working practices celebrating collective intelligence, fostering the quality of working life and ensuring a very high level of performance and comfort. I am very happy that Interparfums SA, a very exceptional French company, has chosen this address as its home.\"\n\nFounded in 1982, Inter Parfums, Inc. develops, manufactures and distributes prestige perfumes and cosmetics as the exclusive worldwide licensee for Abercrombie & Fitch, Anna Sui, Boucheron, Coach, Dunhill, Graff, GUESS, Hollister, Jimmy Choo, Karl Lagerfeld, Kate Spade New York, MCM, Moncler, Montblanc, Oscar de...