Parlux' sale of Perry Ellis Fragrance rights not approved by licensor
13 Oct '06
1 min read
Parlux Fragrances Inc announced that on October 9, 2006, it was informed by Perry Ellis International (PEI) of PEI's decision not to consent to the sale of the Perry Ellis fragrance rights to Victory International (USA) LLC ("Victory").
On August 16, 2006, the Company had entered into a letter of intent, subject to certain approvals, to sell its Perry Ellis fragrance rights to Victory for a total of up to $140 million: $120 million over a five-year period for the fragrance rights and up to $20 million for inventory.
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