- Inter Parfums Inc’s (NASDAQ:IPAR) majority-owned Paris-based subsidiary, Interparfums SA, has signed a fragrance license agreement with the fashion sport brand Lacoste.
- The worldwide exclusive 15-year fragrance license agreement will be effective January 1, 2024.
- Under the 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.
- The launch of the first new perfume line is scheduled for 2024.
- “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,” said Lacoste President Thierry Guibert.
- Founded in 1982, Inter Parfums develops, manufactures and distributes prestige perfumes and cosmetics.
- Price Action: IPAR shares closed lower by 0.32% at $93.36 on Tuesday.
- Photo Via Wikimedia Commons
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