Inter Parfums Pens Exclusive Licensing Deal With Roberto Cavalli

Inter Parfums Inc IPAR inked an exclusive worldwide fragrance license agreement with the Roberto Cavalli brand.

As per the deal, effective July 6, 2023, IPAR's wholly-owned subsidiary will manage the Cavalli fragrance business at par with thier strategy to create an Italian brand hub.

Roberto Cavalli is a renowned Italian luxury lifestyle brand specializing in apparel, fashion accessories, home collections, and fragrances categories. 

"We are enthusiastic about the potential of our partnership with Cavalli and its creative director, Fausto Puglisi. We will modernize and elevate the fragrance portfolio, build out a powerful global brand presence along with a robust omni-channel reach, strengthening visibility and improve shelf space. Our current plans call for brand extensions in 2024 and a new blockbuster scent for women in 2025. It is natural that the Cavalli brand be based in Italy utilizing our Florence resources, staff and infrastructure, which will be a long-term competitive advantage," said Jean Madar, Chairman and CEO.

In May, IPAR reported Q1 2023 revenues of $311.7 million, slightly below the consensus of $312.1 million, and EPS of $1.68 beat the consensus of $1.41. 

Price Action: IPAR shares are trading higher by 2.53% at $133.55 on the last check Monday.