Interparfums has entered into an agreement with Procter & Gamble to acquire the Rochas brand
Interparfums has entered into an agreement with Procter & Gamble to acquire the Rochas brand.
The transaction will cover all brand names and registered trademarks for Rochas, including Femme, Madame and Eau de Rochas. This deal will be payable in cash for US$108m and financed entirely through a medium term loan. This transaction is expected to be completed within the first half of 2015, subject to closing conditions.
Interparfums is the fragrance partner for fashion brands including Jimmy Choo, Lanvin and Balmain.
Founded by Marcel Roches in 1925, the Rochas brand began as a fashion house and expanded into perfumery in the 50s under Helene Rochas' direction. The brand achieved net sales of US$46m in the 2013/2014 financial year, driven mainly by the Eau de Rochas fragrance line.
Philippe Benacin, Chairman and CEO of Interparfums commented: "For the "first time, this acquisition will integrate both fragrances and fashion. It will open up new opportunities in terms of creativity as well as aesthetic design and marketing choices. It will also allow us to apply a global approach to managing a fragrance brand boasting very high name recognition and without time constraints. Finally, this acquisition has generated enormous enthusiasm internally and high motivation by all to reestablish Rochas' position. Under Interparfums' scope, we could generate approximately €25m in sales in 2016."