Parlux Announces Sale of Perry Ellis Fragrance Brand To Perry Ellis International
06 Dicembre 2006 - 10:13PM
PR Newswire (US)
FORT LAUDERDALE, Fla., Dec. 6 /PRNewswire-FirstCall/ -- Parlux
Fragrances, Inc. (NASDAQ:PARL) announced today the completion of a
transaction in which Perry Ellis International (NASDAQ:PERY) has
reacquired from Parlux the license for its Perry Ellis fragrance
brand, as well as inventory, molds and other intangible assets
related thereto, in an all-cash transaction of approximately $63
million, subject to final inventory valuations. Ilia Lekach,
Chairman and Chief Executive Officer, said, "Perry Ellis is a fine
brand that has served us well for many years. The licensor's future
plans envisioned a more restrictive control over creative
development. Its cash offer to take back the brand allows us to
strengthen our balance sheet and have additional resources to
expand our other brands." Parlux Fragrances, Inc. is a manufacturer
and international distributor of prestige products. It holds
licenses for Paris Hilton fragrances, watches, cosmetics,
sunglasses, handbags and other small leather accessories in
addition to licenses to manufacture and distribute the designer
fragrance brands of GUESS?, XOXO, Ocean Pacific (OP), Maria
Sharapova, Andy Roddick, babyGund and Fred Hayman Beverly Hills.
Parlux may periodically release forward-looking statements pursuant
to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements involve known
and unknown risks, uncertainties and other factors that may cause
actual results, performance or achievements of Parlux or its
industry to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements. These risks and uncertainties include,
among others, future trends in sales and Parlux's ability to
introduce new products in a cost-effective manner. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date thereof. Parlux
undertakes no obligation to publicly release the result of any
revisions to these forward-looking statements that may be made to
reflect events or circumstances after the date hereof or to reflect
the occurrence of unanticipated events. DATASOURCE: Parlux
Fragrances, Inc. CONTACT: Ilia Lekach for Parlux Fragrances, Inc.,
+1-954-316-9008 Ext. 8116 Web site: http://www.parlux.com/ Company
News On-Call: http://www.prnewswire.com/comp/674987.html
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