Interparfums Inks License Agreement With Lacoste - Inter Parfums (NASDAQ:IPAR)

Inter Parfums Inc's IPAR majority-owned Paris-based subsidiary, Interparfums SA, has signed a fragrance license agreement with the fashion sport brand Lacoste.
The worldwide exclusive 15-year fragrance license agreement will be effective January 1, 2024.
Under the agreement, including an entrance fee of €90 million, Interparfums will be responsible for the creation, development, production and marketing of all perfume and cosmetics lines under the Lacoste brand.
The launch of the first new perfume line is scheduled for 2024.
"Interparfums' proven know-how and creativity will be key assets to continue the development of our fragrance category, which plays a significant role in Lacoste's reputation," said Lacoste President Thierry Guibert.
Founded in 1982, Inter Parfums develops, manufactures and distributes prestige perfumes and cosmetics.
Price Action: IPAR shares closed lower by 0.32% at $93.36 on Tuesday.
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