Inter Parfums inks deal with Karl Lagerfeld fashion house
Source: ©The Moodie Report
By Rebecca Mann, Associate Editor
Fashion house Karl Lagerfeld and Inter Parfums have signed a global licensing agreement to create, produce and distribute fragrances under the Karl Lagerfeld brand. This 20-year agreement replaces the previous license between Karl Lagerfeld and Coty, said to have been terminated “by mutual consent.” A new fragrance line is scheduled for launch in 2014.
Lagerfeld commented: “Nothing’s more exciting than a new venture and I am sure that Inter Parfums will go in the best direction and that they have the possibility and the will to do so.”
Karl Lagerfeld President and CEO Pier Paolo Righi added: “We are extremely excited to enter into a long-term partnership with Inter Parfums who fully share our vision for the strategic development of the Karl Lagerfeld brand and who bring great experience in successfully building luxury fragrance businesses with a long-term view.”
Inter Parfums President and CEO Philippe Benacin noted: “Karl Lagerfeld is one of the most talented designers worldwide. We are proud of his confidence in us as a partner to pursue strategic and long term fragrance development for the brand and we will actively devote our know-how and resources in order to contribute to a large international success.”
The new deal will doubtless help Inter Parfums to plug the gap that will be left by fashion brand Burberry which, as previously reported, has exercised its option to buy out the license rights for its fragrances and cosmetics products. It is estimated that the Burberry fragrance business accounts for around half of Inter Parfums’ net sales.