Inter Parfums discusses future with Burberry
Licence decision to be made by end of 2011
The Inter Parfums group has indicated that in six weeks time it expects to know whether its licence deal with Burberry will be extended.
Burberry sales account for almost 60% of Inter's annual sales and under the agreement Burberry has until the end of 2011 to exercise an option to purchase its licence. Burberry perfume sales this year are expected to rise by about 13% to some €210m out of total Inter turnover of €370m.
Philippe Benacin, president of Inter Parfums, said the companies were not negotiating over the agreement but were discussing 2012 projects.
The perfume group launched Burberry Body in September this year and Benacin described it as one of the best since Inter was established. He added that if the UK company wanted to repatriate its perfumes activity, it would not be because Inter Parfums had performed badly. Inter says it expects 2012 sales to rise by about 8% on present estimates to around €400m.