Fragrance company is also selling the Balmain license back to Balmain for roughly $5.7m
Inter Parfums is terminating its license agreement for Karl Lagerfeld, which has been underperforming.
The company was due to end its fragrance license for the brand in 2032, however, this has been brought forward to 2024.
In the company’s Q4 2016 results, Russell Greenberg, Executive Vice President and CFO, explained that the early termination would result in an impairment loss of $5.7m.
Inter Parfums signed an exclusive 20-year agreement to create, produce and distribute Karl Lagerfeld fragrances in 2012.
The deal replaced a previous license between the brand and Coty, which was terminated by . . .
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