Burberry to end InterParfums deal
Source: Bi-ME with Reuters , Author: Posted by BI-ME staff
Posted: Tue July 17, 2012 11:20 am

INTERNATIONAL. Luxury brand Burberry (BRBY.L) said it has served notice of its intention to end its fragrance and beauty products licence agreement with InterParfums (IPAR.PA) at the end of the year, though talks with the French company continue.

"To maintain flexibility in pursuing its objective to develop fully this business in the future, Burberry has served notice of its intention to terminate the licence agreement with effect from December 31 2012," Burberry said on Tuesday.

It said upon termination Burberry would pay InterParfums approximately 181 million euros.

However, Burberry also said discussions with InterParfums were continuing, adding their outcome "is uncertain".

Burberry and InterParfums, the exclusive worldwide license for Burberry fragrance and beauty products, have been in talks since last December regarding the potential establishment of a new operating model for the Burberry fragrance and beauty business.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

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UAE. The Middle East's top brands have grown by an average of 38%, according to The Brand Finance Middle East 50; This brings the total value of the top 50 above US$50 billion for the first time; Emirates holds the top spot and remains far ahead of the rest.
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