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 26, 2016
INTERNATIONAL. Connectivity will allow home care robots to interface with smart home ecosystems.
date:Posted: May 26, 2016
INTERNATIONAL. In-app transactions improve customer experience and drive spending.
date:Posted: May 26, 2016
UAE. The 85% rally since Brent hit a 12-years low in Jan was supported by multiple factors, mainly oil disruption from major exporters and production cut back by U.S. shale.
dhgate