Inter Parfums USA has signed an exclusive worldwide multi-year licensing deal with New York based fashion house Oscar de la Renta and entered into an agreement to acquire certain assets of the Oscar de la Renta fragrance division.
The licensing deal will see Inter Parfums create, produce and distribute perfumes and cosmetics under the Oscar de la Renta brand. The acquisition is expected to be completed by 2 December and Inter Parfums is due to take over the existing Oscar de la Renta fragrance collections, which have been operated in-house since 2009 when the company terminated its license agreement with L'Oréal.
Alex Bolen, Chief Executive Officer of Oscar de la Renta, said: “Over the last few years, we are pleased to have re-established Oscar de la Renta as an important brand in prestige fragrances. Our critical efforts to rebuild in-house created a strong business that is well-positioned for the next phase of development in the fragrance and beauty category. Having reached this point, it became clear that Inter Parfums would make an ideal partner that can leverage its global sales, marketing and production expertise to build upon what we have created, while accelerating growth domestically and internationally.”
Meanwhile, Jean Madar, Chairman and CEO of Inter Parfums, Inc. added: “Oscar de la Renta is an iconic brand in both the world of fashion and fragrance. While running the fragrance operation in-house, Oscar de la Renta has successfully re-instated the brand to its position at the height of luxury. Inter Parfums looks forward to building on that success by devoting our resources and know-how to expanding the Oscar de la Renta fragrance business around the world.”