Elizabeth Arden Announces Acquisition of Licenses for Justin Bieber and Nicki Minaj Fragrance Brands; Expects to Be Accretive to Earnings
Elizabeth Arden, Inc. (NASDAQ: RDEN), a global prestige beauty products company, today announced that it has acquired the global licenses and certain related assets for the Justin Bieber and Nicki Minaj fragrance brands from Give Back Brands.
Someday, the first fragrance from global phenomenon and internationally acclaimed superstar Justin Bieber, launched in Spring 2011 and became the number 1 women's fragrance launch of 2011 in U.S. department stores, according to NPD. The second fragrance, Justin Bieber's Girlfriend, is launching in U.S. department stores in the summer of 2012.
Breakthrough artist Nicki Minaj, recently voted by Teen Choice as the Best R&B/Hip Hop Artist in 2011, established herself on the music scene in 2010 and has won numerous BET, AMA and MTV awards. The first fragrance from Nicki Minaj is scheduled to launch at U.S. department stores in the fall of 2012.
Terms of the transaction were not disclosed. The Company expects the transaction to be accretive to earnings beginning in the first half of fiscal 2013. Excluding the impact of this transaction, the Company confirms its fiscal 2012 guidance for net sales growth of 5% to 5.5% over the prior fiscal year, net income per diluted share of $1.95 to $2.00 and a gross margin increase of 200 to 250 basis points over fiscal 2011. This guidance also excludes any expenses related to the acquisition of the Ed Hardy, True Religion and BCBGMAXAZRIA fragrance licenses mentioned in the Company's press release dated May 31, 2012. The Company will provide further discussion and guidance for fiscal 2013 during its fourth quarter and fiscal year 2012 conference call in August 2012.
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