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Inter Parfums, Inc. Signs Global License for Emanuel Ungaro Fragrances
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
Inter Parfums, Inc. (NASDAQ: IPAR) has announced a 10-year exclusive global licensing agreement with Emanuel Ungaro for fragrances and related products, effective January 1, 2022. This agreement includes a five-year renewal option and covers home fragrance, skincare, cosmetics, and travel amenities. CEO Jean Madar highlighted Ungaro's prestigious legacy and the focus on international sales, particularly with the brand’s classic scents. The company plans to introduce a new fragrance in 2023 that emphasizes creativity and sustainability.
Positive
10-year exclusive global licensing agreement with Emanuel Ungaro.
Includes a five-year renewal option.
Opportunity to expand product range into home fragrance, skincare, and cosmetics.
Plans to unveil a new fragrance focused on creativity and sustainability in 2023.
Negative
None.
NEW YORK--(BUSINESS WIRE)--
Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that through its newly created subsidiary Interparfums Italia, it has entered into a 10-year exclusive global licensing agreement with Emanuel Ungaro for the creation, development and distribution of fragrances and fragrance-related products, under the Emanuel Ungaro brand. The International Class 3 agreement, which includes a five-year renewal option, also encompasses home fragrance, skin care, cosmetics and travel amenities, and goes into effect on January 1, 2022.
Jean Madar, Chairman & CEO of Inter Parfums, Inc. stated, “Ungaro is a legendary name synonymous with creativity, colors, signature cuts and patterns representing a best in class example of the intersection of Italian creativity and craftsmanship with French luxury and execution. Today, the brand is best known and most prized internationally, and such presence will remain our sales focus as we continue to produce and distribute the brand’s legacy scents, notably Diva. Come 2023, we plan to unveil a new fragrance incorporating disruptive design, driven by creativity, sustainability and authenticity.”
According to brand owner and tech entrepreneur, Asim Abdullah, “This agreement marks the beginning of a new era for Ungaro fragrances, which have a long and storied history. We look forward to reinforcing our brand’s beauty franchise under the direction, expertise and dedication of our friends at Inter Parfums, who will write this exciting new chapter.”
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, Emanuel Ungaro, Ferragamo Graff, GUESS, Hollister, Jimmy Choo, Karl Lagerfeld, Kate Spade, MCM, Moncler, Montblanc, Oscar de la Renta, S.T. Dupont 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, 2020 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.
