Interparfums to take over Donna Karan and DKNY fragrance licenses
G-III Apparel Group, Ltd., the parent company of the Donna Karan and DKNY brands, has announced that it has entered into a long-term licensing agreement with international perfume group Inter Parfums, Inc. (Interparfums) concerning the two labels’ fragrances.
Under the exclusive licensing deal, Interparfums will be responsible for the creation development and distribution of fragrances and fragrance-related products under the Donna Karan and DKNY brands. The agreement comes into effect on July 1, 2022.
“These global lifestyle brands will make excellent additions to our portfolio,” commented Interparfums chairman and CEO Jean Madar in a release. “With this agreement, we are gaining several well-established and valuable fragrance franchises, most notably Donna Karan Cashmere Mist and DKNY Be Delicious, as well as a significant loyal consumer base around the world.”
According to the executive, upon joining Interparfums’ portfolio, which includes the likes of Montblanc, Anna Sui, Coach, Guess, Jimmy Choo and Oscar de la Renta, the two G-III-owned brands will rank among the company’s largest.
Madar further revealed that the group has plans to launch new Donna Karan and DKNY fragrances in 2023.
Up until now, both brands’ fragrances have been handled by The Estée Lauder Companies, as part of a partnership that has lasted close to three decades.
“The fragrance category enables our fashion brands to connect more broadly with a global consumer,” explained G-III chairman and CEO Morris Goldfarb. “Inter Parfums ability to develop fragrances for an impressive portfolio of brands, combined with their extensive worldwide distribution capabilities, are a testament to their leadership position in the fragrance market.”
G-III reported net sales of $483.1 million in the second quarter ended July 31, 2021, and net income of $19.2 million. The company recently announced that it is acquiring Parisian fashion label Sonia Rykiel, a move which the group said will allow it to “expand into the luxury space.”
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