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: May 5, 2016
UAE. There are more negative than positive factors likely to impact oil prices in the short term. With current oil net-long speculative positions at an elevated level, a slight change in traders' outlook would lead to a significant selloff.
date:Posted: May 4, 2016
INTERNATIONAL. The climate has rarely been so favourable to a resolution of the conflict. The chaos that is sweeping the Middle East has been a game-changer in relation to Israel and the Arab countries.
date:Posted: May 4, 2016
SAUDI ARABIA. The manager/directors of any company that is incorporated in Saudi Arabia should start to consider what changes may need to be made to the company's articles of association or bylaws.
UAE. There are more negative than positive factors likely to impact oil prices in the short term. With current oil net-long speculative positions at an elevated level, a slight change in traders' outlook would lead to a significant selloff.
dhgate