Dunhill Fragrance License to Expire

Rhea-AI Summary

Inter Parfums, Inc. (NASDAQ: IPAR) announced the expiration of its Dunhill fragrance license on September 30, 2023, which will not be renewed. During the remaining period, the company will continue to produce Dunhill fragrances under previous conditions and has the right to sell off remaining inventory post-license. CEO Jean Madar expressed pride in the Dunhill brand's achievement since April 2013 and emphasized the company's focus on expanding larger brands and reinvigorating licensed brands going forward.

Positive

• Continuing to produce Dunhill fragrances until the license expiration.
• Opportunity to sell remaining Dunhill inventory after the license ends.

Negative

• Loss of the Dunhill fragrance license may impact revenue.
• -

NEW YORK--(BUSINESS WIRE)-- Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that its Dunhill fragrance license will expire on September 30, 2023 and will not be renewed.

During the balance of the license, Inter Parfums will continue to produce and sell Dunhill fragrances under the same business conditions as in the past. Once the license expires, Inter Parfums has the right to sell-off its remaining Dunhill fragrance inventory for a limited time as is common in our industry.

Jean Madar, Chairman & CEO of Inter Parfums noted, “I am very proud of the Dunhill fragrance business we built over the past decade. We took over the Dunhill fragrance license in April 2013 and, in the intervening years, brought to market several fragrance pillars for the brand, including the Icon and Signature collections. We intend to continue to support the Dunhill brand and our distributors during the transition period.”

He concluded, “Looking forward, we are focused on growing our larger brands, reinvigorating the fragrance businesses of our newly licensed brands, and expanding our brand portfolio.”

Founded 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, Ferragamo, Graff, GUESS, Hollister, Jimmy Choo, Karl Lagerfeld, Kate Spade, MCM, Moncler, Montblanc, Oscar de la Renta, S.T. Dupont, Ungaro and Van Cleef & Arpels. Inter Parfums is also the owner of Lanvin fragrances and the Rochas brand. Through its global distribution network, the Company’s products are sold in over 120 countries.

Statements in this release which are not historical in nature are forward-looking statements. Although we believe that our plans, intentions and expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such plans, intentions or expectations will be achieved. In some cases you can identify forward-looking statements by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "will," and "would," or similar words. You should not rely on forward-looking statements, because actual events or results may differ materially from those indicated by these forward-looking statements as a result of a number of important factors. These factors include, but are not limited to, the risks and uncertainties discussed under the headings “Forward Looking Statements” and "Risk Factors" in Inter Parfums' annual report on Form 10-K for the fiscal year ended December 31, 2021 and the reports Inter Parfums files from time to time with the Securities and Exchange Commission. Inter Parfums does not intend to and undertakes no duty to update the information contained in this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220414005871/en/

Inter Parfums, Inc.

Russell Greenberg, Exec. VP & CFO

(212) 983-2640

rgreenberg@interparfumsinc.com

www.interparfumsinc.com

-or-



Investor Relations Counsel

The Equity Group Inc.

Devin Sullivan (212) 836-9608/dsullivan@equityny.com

Linda Latman (212) 836-9609/llatman@equityny.com

www.theequitygroup.com

Source: Inter Parfums, Inc.

FAQ

When does Inter Parfums' Dunhill fragrance license expire?

Inter Parfums' Dunhill fragrance license expires on September 30, 2023.

Will Inter Parfums renew the Dunhill fragrance license?

No, Inter Parfums announced that it will not renew the Dunhill fragrance license.

What is the future plan for Dunhill fragrances after the license expiration?

Inter Parfums will sell off remaining Dunhill fragrance inventory after the license expires.

What does Inter Parfums plan to focus on after losing the Dunhill license?

Inter Parfums aims to grow its larger brands and reinvigorate fragrance businesses of newly licensed brands.