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Parlux Fragrances

Published February 14, 2006
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Parlux Fragrances Inc., which makes perfumes under licenses for Paris Hilton and other celebrities, has raised its credit line with GMAC Commercial Finance to $30 million from $20 million, with an option to increase it to $35 million.
Parlux said the interest rate on the credit line was lowered to 0.25% below the prime rate, down from the previous prime rate. The company said it requested an increase in credit to support its goal of exceeding $300 million in sales in the fiscal year ending March 31, 2007. The new credit line will last until July 2008, Parlux said.

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