INTER PARFUMS, INC. AND BROOKS BROTHERS ENTER INTO EXCLUSIVE AGREEMENT FOR PERSONAL CARE PRODUCTS
New York, New York, November 27, 2007: Inter Parfums, Inc. (NASDAQ GS: IPAR) and Brooks Brothers, the oldest clothier in the United States, have entered into an exclusive agreement covering the design, manufacture and supply of personal care products for men and women to be sold at Brooks Brothers locations in the United States as well as a licensing agreement covering Brooks Brothers stores and specialty and department stores outside the United States and duty free and other travel-related retailers. In addition to new product development, Inter Parfums will assume responsibility for the production and supply of existing Brooks Brothers fragrance and related personal care products.
Commenting on the new agreement, Jean Madar, Chairman of the Board and Chief Executive Officer of Inter Parfums, stated, “We are extremely honored by this new association with Brooks Brothers, an American icon since 1818 and an enduring name that has shaped the American style of dress through fashion innovation, fine quality, and personal service. Our in-house team of designers will draw upon the Brooks Brothers heritage as they develop classic yet modern personal care products and collections for men and women. This agreement is rather unique for Inter Parfums in that it expands our presence in the North American specialty retail sector and at the same time, enlarges our Company’s licensed brand portfolio.”
Claudio Del Vecchio, Chairman and Chief Executive Officer of Brooks Brothers noted, “Making personal care products a more important category at our stores is just one of the goals of this agreement. Another is to expand brand awareness in retail outlets other than our own. We believe that innovative, brand-appropriate personal care products created by Inter Parfums for our exceptionally loyal, multi-generational customer base will also appeal to growing numbers of new and prospective Brooks Brothers customers worldwide and therefore strengthen the bond between our brand and our clientele. For all of these reasons, we are delighted to partner with Inter Parfums.”
In the United States, Inter Parfums will be responsible for product development, formula creation, packaging design and manufacturing while Brooks Brothers will be responsible for marketing, advertising and in-store sales. The first new products to be developed by Inter Parfums are tentatively scheduled for launch in November 2008 at Brooks Brothers retail stores in the United States. International distribution is expected to begin in 2009.
About Brooks Brothers:
Established in 1818, Brooks Brothers currently operates stores in the United States, Europe, Japan, Hong Kong, China, Malaysia, Singapore, Taiwan, Chile and Dubai. The Company also sells its merchandise through a direct mail catalog and e-commerce site, brooksbrothers.com. Brooks Brothers was acquired in December 2001 by Retail Brand Alliance, Inc., a privately-owned company which is specialized in manufacturing, merchandising and retailing. Please visit www.brooksbrothers.com for further information and store locations.
About Inter Parfums:
Inter Parfums develops, manufactures and distributes prestige perfumes and cosmetics as the exclusive worldwide licensee for Burberry, Paul Smith, S.T. Dupont, Christian Lacroix, Quiksilver/Roxy, and Van Cleef & Arpels. The Company also owns Lanvin Perfumes and Nickel S.A., a men’s skin care company. It also produces personal care products for specialty retailers under exclusive agreements with Gap Inc., New York & Company and Brooks Brothers. In addition, Inter Parfums produces and supplies mass market fragrances and fragrance related products. The Company’s products are sold in over 120 countries worldwide.
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, 2006, 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 at Inter Parfums, Inc. or Investor Relations Counsel
Russell Greenberg, Exec. VP & CFO The Equity Group Inc.
(212) 983-2640 Linda Latman (212) 836- 9609/llatman@equityny.com
rgreenberg@interparfumsinc.com Lena Cati (212) 836-9611/lcati@equityny.com