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Lacoste and Interparfums SA Sign a Fragrance License Agreement
NEW YORK--(BUSINESS WIRE)-- Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that its majority owned Paris-based subsidiary, Interparfums SA and
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 and Lacoste, the iconic fashion sport brand, have signed a worldwide exclusive 15-year fragrance license agreement effective January 1, 2024.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221220005657/en/\nUnder this agreement, including an entrance fee of €90 million, Interparfums will be responsible for the creation, development, production and marketing of all perfume and cosmetics lines under the Lacoste brand, in selective distribution as well as in the Lacoste boutique network.\n\nThe launch of the first new perfume line is scheduled for 2024.\n\nThierry Guibert, Lacoste President, stated: “Interparfums' proven know-how and creativity will be key assets to continue the development of our fragrance category, which plays a significant role in Lacoste's reputation. Our common vision will enable us to take an approach that is increasingly in line with the brand's strong identity codes, whose fragrances still have great potential.”\n\nJean Madar, Chairman and CEO of Inter Parfums, Inc., added: “Lacoste is an emblematic brand in the world of fashion and sport with a very high level of awareness and desirability throughout the world. The management team has a clear and precise vision of the brand's great development potential, which will also allow us to take the perfumes higher and further. This is an important new strategic step in the life of Interparfums. We are delighted and thrilled about this exciting partnership.”\n\nAbout Lacoste:\n\nSince the very first polo was created in 1933, Lacoste relies on its authentic sports heritage to spring optimism and elegance on the world thanks to a unique and original lifestyle for women, men and children.\n\nAt the juncture of sport and fashion, Lacoste frees us up, creates movement in our lives, and liberates our self-expression. In every collection, in every line, Lacoste’s timeless elegance is captured through a combination of the creative and the classic. Since its beginnings, the crocodile’s aura has grown more powerful with every generation who has worn it, becoming a rallying sign beyond style. Passed from country to country, from one generation to the next, from one fri...