First, a third party agreed to buy Perry Ellis then, that deal fell through. Now, Perry Ellis International has bought back its own fragrance rights from Parlux Fragrances. Parlux Fragrances Inc. previously held rights, titles, interests, intangible assets and inventory pursuant to a global license agreement to manufacture and distribute items under the Perry Ellis brand.
The move grants the company with a more favorable deal and more control. The $63 million cash deal includes the Perry Ellis fragrance license and related inventory.