Inter Parfums USA has signed a worldwide licensing agreement with fashion house Oscar de la Renta, to create, produce and distribute fragrances and cosmetics under the Oscar de la Renta brand. Inter Parfums will also acquire certain assets of the company’s fragrance division.
The deal was brokered by Financo. The financial terms of the agreement were not disclosed.
The acquisition is expected to be completed by 2 December, when Inter Parfums will take over production and distribution of the existing Oscar de la Renta fragrance collections, which have been operated in-house since 2009 when the firm reached an agreement to terminate its license agreement with L’Oréal. Upon completion of the acquisition, Oscar de la Renta will no longer operate directly a fragrance and beauty division.
Oscar de la Rental CEO Alex Bolen commented: “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.”
Inter Parfums Chairman and CEO Jean Madar 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 reinstated 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.”
Oscar de la Renta is the latest addition to Inter Parfums’ burgeoning prestige fragrance portfolio. Since Burberry bought back its lucrative license in 2012, the group has signed deals with Karl Lagerfeld, Agent Provocateur, Shanghai Tang and Alfred Dunhill.
