American licensor will run operations from dedicated Italian office to ensure Italian heritage remains at the centre
Following a month of negotiations, Inter Parfums and Salvatore Ferragamo have hashed out a global licensing deal.
It was announced in June that the companies were in discussions for the luxury beauty player to join the American licensor's portfolio, which currently holds Jimmy Choo, Kate Spade, Paul Smith and Montblanc in its line-up.
Meanwhile, the Italian fragrance and fashion house offers some 30 beauty creations, from fragrance and body products to at-home scents for men and women.
The licence will come into effect from October and lasts for ten years with a five year optional term, subject to conditions.
Inter Parfums said it would guarantee production of Salvatore Ferragamo’s products in Italy and ensure the brand’s heritage was protected by operating a wholly-owned Italian company for the brand, based in Florence; an important detail in the agreement for Salvatore Ferragamo.
“Inter Parfums’ great competence and recognised creativity make it the ideal partner to preserve the values and heritage of our brand with Made in Italy products,” said Leonardo Ferragamo, President of Salvatore Ferragamo.
“Its great commercial expertise will also ensure a new boost to the business of our fragrances, which will be distributed through a carefully selected sales network.”
Meanwhile Inter Parfums’ Chairman and CEO, Jean Madar, said he was “proud” of the new partnership.
“Salvatore Ferragamo is in fact one of the most iconic and well-known brands in the luxury segment to which we want to dedicate all our attention for the best future development,” he noted.
“The entry of Ferragamo in our portfolio represents a great opportunity to further develop our business in the fashion and luxury segment.”