FOR IMMEDIATE RELEASE
INTER PARFUMS AND MONTBLANC EXTEND LICENSE AGREEMENT
New York, NY, October 2, 2015: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that its majority owned Paris-based subsidiary, InterparfumsSA, has extended its license agreement with Montblanc by five years. The original agreement, signed in 2010, provided InterparfumsSA with the exclusive worldwide license to create, produce and distribute perfumes and ancillary products under the Montblanc brand through December 31, 2020. The new 10-year agreement, which goes into effect on January 1, 2016, extends the partnership through December 31, 2025 without any material changes in operating conditions from the prior license.
Interparfums SA’s annual sales for Montblanc now exceed €80 million, a 400% increase in just 4 years. Montblanc fragrances have met with enormous worldwide success, driven in particular by performances from the Montblanc Legend and Montblanc Emblem lines.
Jérôme Lambert, Chief Executive Officer of Montblanc, commented, "We are very proud to announce the extension of our partnership with Interparfums. The remarkable successes achieved in the last few years, the result of our close collaboration, have naturally led us to renew our confidence in Interparfums for the next 10 years."
Jean Madar, Chairman and Chief Executive Officer of Inter Parfums, Inc., added, "Montblanc fragrances have met with growing success since the signing of our first license agreement, first with the Montblanc Legend line and then the Montblanc Emblem line. The work accomplished upstream by the Maison has contributed considerably to this success, and has allowed us to build a lasting position in the universe of men's fragrances. We are very pleased that this new license agreement will reinforce our long-term visibility, by notably setting the stage for developing a product offering in the women's fragrance universe."
For more than a century, Montblanc has embraced the traditions of lasting value and exquisite craftsmanship. The maison’s uncompromising principles of design, style, quality and workmanship have allowed it to create heirloom collections that are passed from generation to generation. The iconic Montblanc emblem has become a symbol of excellence for luxury writing instruments, timepieces, leather, accessories, fragrances and sunglasses – and the maison has made an enduring commitment to encourage excellence through cultural advancement. Montblanc has its roots in writing culture and therefore sees a particular obligation to its own cultural commitment.
About Inter Parfums:
In the more than 30 years since its founding, Inter Parfums, Inc. has been selected as the fragrance and beauty partner for a growing list of brands that include Abercrombie & Fitch, Agent Provocateur, Anna Sui, Balmain, Banana Republic, bebe, Boucheron, Coach, Dunhill, Gap, Hollister, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, Oscar de la Renta, Paul Smith, Repetto, Rochas, Shanghai Tang, S.T. Dupont and Van Cleef & Arpels. Inter Parfums is known for innovation, quality and its ability to capture the genetic code of each brand in the products it develops, manufactures and distributes in over 100 countries worldwide.
Contact at Inter Parfums, Inc. -or- Investor Relations Counsel
Russell Greenberg, Exec. VP & CFO The Equity Group Inc.
(212) 983-2640 Fred Buonocore (212) email@example.com