06.01.15
The culling of the Procter & Gamble herd continues, as Interparfums SA paid P&G $108 million for its Rochas brand. According to Jean Madar, chairman and CEO of Inter Parfums, Inc., the s acquisition opens up a new page in the company's history by integrating for the first time both fragrances and fashion.
"This will allow us to apply a global approach to managing a fragrance brand with complete freedom in terms of creativity and aesthetic choices and a very high degree of visibility to establish a position of even greater preeminence for Rochas in the universe of luxury," he explained in a statement. "We will now take time in the second part of 2015 to define the priorities for the brand's development and build a sustainable long-term strategy."
Interparfums financed the deal, excluding inventory,via a €100 million loan repayable over five years.
Based on currently low inventory levels and the timetable for its integration, Inter Parfums, Inc. does not anticipate a significant impact on total sales, and is therefore maintaining its previously articulated guidance for 2015 net sales of approximately $470 million.
"This will allow us to apply a global approach to managing a fragrance brand with complete freedom in terms of creativity and aesthetic choices and a very high degree of visibility to establish a position of even greater preeminence for Rochas in the universe of luxury," he explained in a statement. "We will now take time in the second part of 2015 to define the priorities for the brand's development and build a sustainable long-term strategy."
Interparfums financed the deal, excluding inventory,via a €100 million loan repayable over five years.
Based on currently low inventory levels and the timetable for its integration, Inter Parfums, Inc. does not anticipate a significant impact on total sales, and is therefore maintaining its previously articulated guidance for 2015 net sales of approximately $470 million.