Interparfums Inc 8-K, filed Dec 21, 2022
Interparfums Inc (IPAR)
About this 8-K
Interparfums Inc filed this 8-K on December 21, 2022.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
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Item 7.01. Regulation FD Disclosure.
Our press release dated December 21, 2022 relating to the signing of the Lacoste fragrance license by our majority owned Paris-based subsidiary, Interparfums SA, a copy of which is annexed hereto as Exhibit no. 99.1, is incorporated by reference herein, and is filed pursuant to this Item 7.01 and Regulation FD.
Item 8.01. Other Events.
Lacoste, the iconic fashion sport brand, and Interparfums SA, our majority owned Paris-based subsidiary and creator of prestige fragrances and cosmetics, announced the signing of a worldwide exclusive 15-year fragrance license agreement effective January 1, 2024. The rights of Interparfums SA under such license agreement are subject to certain minimum advertising expenditures and royalty payments as are customary in our industry. In addition, Interparfums SA has agreed to pay the Lacoste brand owners a “Compensation Entrance Fee” totaling €90 million (approximately $95 million), payable €50 million now, and €40 million by December 15, 2023. Interparfums SA has also agreed to take over the existing lines on the effective date and to purchase the balance of the fragrance inventory from the former licensee on or before December 31, 2023 to facilitate a smooth transition.
Item 9.01 Financial Statements and Exhibits.
| 99.1 | Our press release dated December 21, 2022 |
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused and authorized this report to be signed on its behalf by the undersigned.
Dated: December 21, 2022
| Inter Parfums, Inc. | ||
| By: | /s/ Michel Atwood | |
| Michel Atwood | ||
| Chief Financial Officer | ||
Exhibit 99.1
 |
 |
for immediate release
LACOSTE
AND INTERPARFUMS SA SIGN A FRAGRANCE LICENSING AGREEMENT
New York, New York – December 21, 2022: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that its majority owned Paris-based subsidiary, Interparfums SA and Lacoste, the iconic fashion sport brand, have signed a worldwide exclusive 15-year fragrance license agreement effective January 1, 2024.
Under this agreement, including an entrance fee of €90 million, Interparfums will be responsible for the creation, development, production and marketing of all perfume and cosmetics lines under the Lacoste brand, in selective distribution as well as in the Lacoste boutique network.
The launch of the first new perfume line is scheduled for 2024.
Thierry Guibert, Lacoste President, stated: “Interparfums’ proven know-how and creativity will be key assets to continue the development of our fragrance category, which plays a significant role in Lacoste’s reputation. Our common vision will enable us to take an approach that is increasingly in line with the brand’s strong identity codes, whose fragrances still have great potential.”
Jean Madar, Chairman and CEO of Inter Parfums, Inc., added: “Lacoste is an emblematic brand in the world of fashion and sport with a very high level of awareness and desirability throughout the world. The management team has a clear and precise vision of the brand’s great development potential, which will also allow us to take the perfumes higher and further. This is an important new strategic step in the life of Interparfums. We are delighted and thrilled about this exciting partnership.”
About Lacoste:
Since the very first polo was created in 1933, Lacoste relies on its authentic sports heritage to spring optimism and elegance on the world thanks to a unique and original lifestyle for women, men and children.
At the juncture of sport and fashion, Lacoste frees us up, creates movement in our lives, and liberates our self-expression. In every collection, in every line, Lacoste’s timeless elegance is captured through a combination of the creative and the classic. Since its beginnings, the crocodile’s aura has grown more powerful with every generation who has worn it, becoming a rallying sign beyond style. Passed from country to country, from one generation to the next, from one friend to another, Lacoste pieces become imbued with an emotional connection that raises them to the status of icons.
The Lacoste elegance - both universal and timeless - brings together a large community, in which everyone respects and recognizes each other’s values and differences
Lacoste is established in 98 countries, throughout a network of 1100 shops. For further information on Lacoste: https://corporate.lacoste.com/
About Inter Parfums, Inc.:
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, Donna Karan, DKNY, Ferragamo, Graff, GUESS, Hollister, Jimmy Choo, Karl Lagerfeld, Kate Spade, MCM, Moncler, Montblanc, Oscar de la Renta, S.T. Dupont, Ungaro and Van Cleef & Arpels. Inter Parfums is also the owner of Lanvin fragrances and the Rochas brand. Through its global distribution network, the Company’s products are sold in over 120 countries.
Forward-Looking Statements:
Statements in this release which are not historical in nature are forward-looking statements. Although we believe that our plans, intentions and expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such plans, intentions or expectations will be achieved. In some cases, you can identify forward-looking statements by forward-looking words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” “will,” and “would,” or similar words. You should not rely on forward-looking statements, because actual events or results may differ materially from those indicated by these forward-looking statements as a result of a number of important factors. These factors include, but are not limited to, the risks and uncertainties discussed under the headings “Forward Looking Statements” and “Risk Factors” in Inter Parfums’ annual report on Form 10-K for the fiscal year ended December 31, 2021 and the reports Inter Parfums files from time to time with the Securities and Exchange Commission. Inter Parfums does not intend to and undertakes no duty to update the information contained in this press release.
Contact Lacoste:
Rhizlene Mimoun
Head of Corporate Communications
rmimoun@lacoste.com
+33 6 26 74 52 25
| Contact at Inter Parfums, Inc. | -or- | Investor Relations Counsel | ||
| Michel Atwood, CFO | The Equity Group Inc. | |||
| (212) 983-2640 | Karin Daly (212) 836-9623/ kdaly@equityny.com | |||
| matwood@interparfumsinc.com | Linda Latman (212) 836-9609/ llatman@equityny.com | |||
| www.interparfumsinc.com | www.theequitygroup.com |