Coach and Interparfums SA Sign Global License Agreement for Coach Fragrance
April 09 2015 - 7:00AM
Business Wire
Coach, Inc. (NYSE:COH) (SEHK:6388), a leading New York
design house of modern luxury accessories and lifestyle
collections, and Interparfums SA (Euronext:ITP), the creator
of prestige perfumes and cosmetics, today announced that they have
entered into an 11-year exclusive worldwide fragrance license
agreement. Under the agreement, Interparfums will create, produce
and distribute new perfumes and fragrance-related products,
including new men’s and women’s scents. Interparfums will
distribute these fragrances globally to department and specialty
stores and duty free shops, as well as in Coach retail stores
beginning fall 2016.
Victor Luis, Chief Executive Officer of Coach, Inc., said,
“We’ve been pleased with the performance of our fragrance business
since our launch. As our brand transformation continues to
progress, and with Interparfums as our partner, we know we can
leverage this category into a much larger global opportunity. Given
Interparfums’s successful track record of cultivating and growing
fragrance lines for fashion and luxury goods brands they were the
ideal choice to take our business to the next level.”
Philippe Benacin, Chief Executive Officer of Interparfums SA,
stated, “Coach is an iconic brand focused on relevance and
innovation. We greatly respect what the company has already
accomplished in the realm of fragrance, most notably with Signature
and Poppy, the brand’s well-established, top-selling scents. We
look forward to developing new fragrances that capture the spirit
of the Coach brand, and to taking the portfolio to a larger
audience. With our distribution network, we have a great
opportunity to build upon the success already seen with Coach
fragrance by expanding the distribution globally and by
capitalizing on the growing recognition of the brand in
international markets.”
The distribution of Coach by Interparfums is expected to begin
in the fall of 2016. The launch will be supported by an integrated
marketing and communications campaign, including widespread
national print and web, among other media.
About Coach:
Coach, established in New York City in 1941, is a leading design
house of modern luxury accessories and lifestyle collections with a
rich heritage of pairing exceptional leathers and materials with
innovative design. Coach is sold worldwide through Coach stores,
select department stores and specialty stores, and through Coach’s
website at www.coach.com. Coach’s common stock is traded on the New
York Stock Exchange under the symbol COH and Coach’s Hong Kong
Depositary Receipts are traded on The Stock Exchange of Hong Kong
Limited under the symbol 6388.
About Interparfums SA :
Founded by Philippe Benacin and Jean Madar in 1982, Interparfums
SA develops, manufactures and distributes prestige perfumes and
cosmetics as the exclusive worldwide licensee for Montblanc, Jimmy
Choo, Karl Lagerfeld, Boucheron, Van Cleef & Arpels, Repetto,
Paul Smith, S.T. Dupont and Balmain. The Company also owns Lanvin
Perfumes. Its products are sold in over 100 countries worldwide in
a selective distribution network. In 2014, Interparfums SA posted
strong results with consolidated sales of nearly €300 million,
shareholders' equity of €368 million and net cash of
€225 million. The Company is listed on Euronext Paris with a
market capitalization around €900 million.
Neither the Hong Kong Depositary Receipts nor the Hong Kong
Depositary Shares evidenced thereby have been or will be registered
under the U.S. Securities Act of 1933, as amended (the "Securities
Act"), and may not be offered or sold in the United States or to,
or for the account of, a U.S. Person (within the meaning of
Regulation S under the Securities Act), absent registration or an
applicable exemption from the registration requirements. Hedging
transactions involving these securities may not be conducted unless
in compliance with the Securities Act.
This press release contains forward-looking statements based on
management's current expectations. These statements can be
identified by the use of forward-looking terminology such as "may,"
"will," "should," "expect," "intend," “ahead,” “remain,”
"estimate," “forward,” "on track," “on course,” "are positioned
to," "continue," "project," “potential,” “to buy,” "guidance,"
“target,” "forecast," "anticipated," or comparable terms. Future
results may differ materially from management's current
expectations, based upon risks and uncertainties such as expected
economic trends, the ability to anticipate consumer preferences,
the ability to control costs, etc. Please refer to Coach’s latest
Annual Report on Form 10-K, its Quarterly Report on Form 10-Q for
the quarterly period ended December 27, 2014 and its other filings
with the Securities and Exchange Commission for a complete list of
risks and important factors.
Coach:Analysts & Media:Andrea Shaw Resnick,
212-629-2618Global Head Investor Relations & Corporate
Communicationsaresnick@coach.comorChristina Colone,
212-946-7252Director, Investor
Relationsccolone@coach.comorInterparfums SA:Philippe Benacin, + 33
1 53 77 00 00Chief Executive
Officerpbenacin@interparfums.frorMediaCyril Levy, + 33 1 53 77 00
00Corporate Communication Directorclevypey@interparfums.fr
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