Perry Ellis repurchases fragrance rights from Parlux

Published: 7-Dec-2006

Perry Ellis has reacquired its fragrance licence from Parlux Fragrances. The all-cash deal has been valued at approximately $63m.

"Perry Ellis is a fine brand that has served us well for many years. The licensor's future plans envisaged 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," commented Ilia Lekach, chairman and ceo at Parlux.

Perry Ellis has reacquired its fragrance licence from Parlux Fragrances. The all-cash deal has been valued at approximately $63m.

"Perry Ellis is a fine brand that has served us well for many years. The licensor's future plans envisaged 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," commented Ilia Lekach, chairman and ceo at Parlux.

The deal was struck a month after Perry Ellis refused permission to Parlux to sell the liecnce to Victory International for $140m.

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