Happi Staff01.11.21
Inter Parfums, Inc. says its majority owned Paris-based subsidiary, Interparfums SA, has signed a purchase contract, subject to certain conditions, to acquire an office building complex for its exclusive use as its future headquarters, located in the heart of Paris.
This transaction is expected to be completed in the spring of this year with the move planned for the end of 2021 or the beginning of 2022.
In order to maintain Interparfums’ current cash position, approximately 90% of the €125 million purchase price, excluding taxes and related expenses, will be financed by a bank loan.
“This acquisition is a unique opportunity for us with many benefits to be realized over the long-term,” said Jean Madar, chairman and CEO of Inter Parfums, Inc., in a statement. “Owning our corporate headquarters in a very prestigious part of Paris, and customizing the complex for our European operations, will enhance the reputation of our company. We look forward to relocating our European operations to our new offices, which are being designed to provide an exceptional work environment, as well as a welcoming and productive atmosphere for our suppliers, distributors and licensors, both existing and prospective.”
Founded in 1982, Inter Parfums, Inc. develops, manufactures and distributes prestige perfumes and cosmetics as the exclusive worldwide licensee for Abercrombie & Fitch, Anna Sui, Boucheron, Coach, Dunhill, Graff, GUESS, Hollister, Jimmy Choo, Karl Lagerfeld, Kate Spade New York, MCM, Moncler, 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.
This transaction is expected to be completed in the spring of this year with the move planned for the end of 2021 or the beginning of 2022.
In order to maintain Interparfums’ current cash position, approximately 90% of the €125 million purchase price, excluding taxes and related expenses, will be financed by a bank loan.
“This acquisition is a unique opportunity for us with many benefits to be realized over the long-term,” said Jean Madar, chairman and CEO of Inter Parfums, Inc., in a statement. “Owning our corporate headquarters in a very prestigious part of Paris, and customizing the complex for our European operations, will enhance the reputation of our company. We look forward to relocating our European operations to our new offices, which are being designed to provide an exceptional work environment, as well as a welcoming and productive atmosphere for our suppliers, distributors and licensors, both existing and prospective.”
Founded in 1982, Inter Parfums, Inc. develops, manufactures and distributes prestige perfumes and cosmetics as the exclusive worldwide licensee for Abercrombie & Fitch, Anna Sui, Boucheron, Coach, Dunhill, Graff, GUESS, Hollister, Jimmy Choo, Karl Lagerfeld, Kate Spade New York, MCM, Moncler, 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.
