Oscar de la Renta extends Inter Parfums licensing deal to 2031
today Sep 12, 2019
French fragrance company Inter Parfums Inc. and Oscar de la Renta LLC have renewed their license agreement, extending their partnership through December 31 of 2031.
The agreement, originally signed in October of 2013, further includes an additional five-year extension option through December 31, 2036.
“While working closely with Inter Parfums creative, commercial and marketing teams, we have achieved significant sales growth over the last 6 years, bolstering the Oscar de la Renta fragrance franchise globally,” said Alex Bolen, chief executive officer of Oscar de la Renta.
“Since we took over distribution of its fragrance portfolio, we have launched several new fragrance families, including our newest, the Bella collection, and Oscar de la Renta has become one of [the] most important brands within our U.S. operations,” added Jean Madar, chairman and chief executive officer of Inter Parfums Inc.
“Our strong sales growth has further validated our proven strategy of committing resources and knowledge to long-term partnerships with iconic pillars of fashion, such as Oscar de la Renta, to develop prestige fragrances that capture the essence of each brand.”
In April, Inter Parfums reported a slight rise in Oscar de la Renta perfume sales, due in part to the release of the brand’s ‘Bella Rosa’ fragrance. Overall, the company reported a 3.8% increase (7.4% at comparable foreign currency exchange rates) in first-quarter net sales, noting a 54.8% rise in sales in the United States.
In addition to Oscar de la Renta, Inter Parfum’s portfolio of perfume and cosmetic licenses includes brands like Kate Spade, Coach, Guess, Jimmy Choo, Boucheron, Van Cleef & Arpels, Karl Lagerfeld, and Repetto. Last week, the company reported an 8% net income increase in H1 2019, reaching €27.2 million ($29.9 USD), with operating profit increasing by 12% to €39 million.