Breaking News

Parlux Fragrances

February 14, 2006

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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