Sales: $170 million for fragrances. Corporate sales: $534 million. Net loss: $56 million, for the year ended Feb. 2, 2013.
Key Personnel: Frederick E. Purches, chairman and chief executive officer; Raymond J. Balsys, chief financial officer; Frank A. Buttacavoli, chief operating officer and executive vice president
Major Products: Parlux manufactures and distributes designer fragrance brands including Vince Camuto, Rihanna, Jessica Simpson, Marc Ecko, Natori, Nicole Miller, Paris Hilton Fragrances and Queen Latifah.
New Products: New scents to be launched this fall under the lines of Rihanna and rapper/producer Jay-Z.
Comments: More than a year ago, Perfumania acquired Parlux Fragrances. Today, that business represents about a third of the company’s sales; the bulk of which is in fragrance retail. With the acquisition complete, Perfumania has moved to put industry veterans in charge of its manufacturing business.
For example, Donald J. Loftus became the new president of Parlux Ltd. and executive vice president of Perfumania Inc in April. Before coming to Parlux, Loftus served as the North American president and CEO of P&G Prestige for more than 10 years. Loftus is also a former chairman of The Fragrance Foundation and is the current chairman of Fashion Group International.
Since its acquisition of Parlux last year, Perfumania is restructuring the way it does business to be a more vertically integrated company; playing the role of the manufacturer, wholesaler, distributor and retailer. Perfumania hopes that such restructuring will ultimately create further expansion into the US market of “prestige” fragrances, which are sold in department stores.
Perfumania reported a $56 million loss at the end of its fiscal year in February.