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

date:Posted: September 19, 2014
KUWAIT. The global Islamic finance industry reached approx. US$1.9 trillion in assets as at end 1H2014; The report analyses the role of Islamic finance in supporting economic growth.
date:Posted: September 18, 2014
INTERNATIONAL. We have entered a new chapter in the history of central banking. This paradigm shift changes the policy tools that have traditionally defined the sphere of macroeconomic decision-making; We have built an economy that is now so leveraged that it needs zero percent interest rates just to tread water.
date:Posted: September 18, 2014
INTERNATIONAL. World Bank report spells out the repercussions of the political uncertainty and restrictions on movement and access and recommends remedial actions by all parties.
SAUDI ARABIA. Saudi Arabia will need to keep cutting oil output to sustain prices above US$100 a barrel, according to BNP Paribas and Societe Generale; "We are swimming in crude, and they know that better than anyone because they are the biggest exporter."
dhgate