Inter Parfums, Inc. and MCM Sign an Exclusive Fragrance License Agreement Through 2030
NEW YORK--(BUSINESS WIRE)--Nov 19, 2019--
Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that it has entered into an exclusive, 10-year worldwide license agreement with German luxury fashion house MCM for the creation, development and distribution of fragrances under the MCM brand.
Fusing modern German craftsmanship and the traditional art of French perfumery, Inter Parfums will develop exceptional fragrances for women and men that will celebrate the boldness, attitude and essence of MCM which defined the brand since its birth in Munich. The long-term collaboration will thrive on innovation with a passionate, tailor-made approach built on a mastery of fragrance expertise. Positioned in the prestige fine fragrance arena, MCM fragrances will fuse luxury with an expressive spirit of originality and optimism. Every detail will enhance MCM’s identity, transcending perfumery with elegance and excellence.
Jean Madar, Chairman & CEO of Inter Parfums, Inc. stated, “Since 1976, MCM has been pushing fashion boundaries and redefining luxury leather goods on a global scale through innovation, cutting-edge technology, exceptional creativity and superior quality. We are excited to add this impressive brand to our fragrance portfolio. Our plan is to develop extraordinary fragrances for women and men that capture the creative spirit of MCM, with the first launch targeted for the first quarter of 2021. We expect our distribution strategy to include MCM stores, high-end department stores and prestige beauty retailers, with a geographic focus on Asia, the Americas and Europe. We are looking forward to launching our fragrance partnership with MCM, which we anticipate will be a very successful long-term relationship.”
Sung-Joo Kim, founder, Chairperson and Chief Visionary Officer of the Sungjoo Group and MCM Holdings AG, stated, “Fragrance has been a cornerstone of our archive portfolio, and is a powerful tool to building connections with the brand by stimulating the five senses and beyond. From the tangible to the intangible and material to emotion, fragrance has the potency to infuse, transform and imbue the ambiance with positivity. We are very proud to announce our partnership with Inter Parfums, a world renowned pioneer in perfumery, and believe that this category extension will build our culture of innovation and lifestyle of expression comprehensively.”
The agreement has a 4-year automatic renewal option, potentially extending the license until December 31, 2034.
About Inter Parfums, Inc.
Founded in 1982, Inter Parfums, Inc. develops, manufactures and distributes prestige perfumes and cosmetics as the exclusive worldwide licensee for Abercrombie & Fitch, Agent Provocateur, Anna Sui, Boucheron, Coach, Dunhill, Graff, GUESS, Hollister, Jimmy Choo, Karl Lagerfeld, Kate Spade, Lily Aldridge, MCM, Montblanc, Oscar de la Renta, Paul Smith, Repetto, 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.
About MCM (Modern Creation München)
MCM is a luxury lifestyle goods and accessories brand founded in 1976 with an attitude defined by the cultural Zeitgeist and its German heritage with a focus on functional innovation, including the use of cutting edge techniques. Today, through its association with music, art, travel and technology, MCM embodies the bold, rebellious and aspirational. Always with an eye on the disruptive, the driving force behind MCM centers on revolutionizing classic design with futuristic materials. Appealing to the 21st Century Global Nomad generation - dreamers, creatives and digital natives - MCM’s millennial and Gen Z audience is genderless, ageless, empowered and unconstrained by rules and boundaries.
MCM is currently distributed in 650 stores in 40 countries including Munich, Berlin, Zurich, London, Paris, New York, Hong Kong, Shanghai, Beijing, Seoul, Tokyo, Middle East and other countries. For further information, please visit: http://www.MCMWorldwide.com
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, 2018 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/20191119005181/en/
CONTACT: Inter Parfums, Inc.
Russell Greenberg, Exec. VP & CFO
Investor Relations Counsel
The Equity Group Inc.
Fred Buonocore (212) firstname.lastname@example.org
Linda Latman (212) email@example.com
KEYWORD: NEW YORK UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: FASHION OTHER RETAIL COSMETICS RETAIL SPECIALTY
SOURCE: Inter Parfums, Inc.
Copyright Business Wire 2019.
PUB: 11/19/2019 07:00 AM/DISC: 11/19/2019 07:01 AM