JEAN PHILIPPE FRAGRANCES, INC., ANNOUNCES THE ACQUISITION OF THE WORLDWIDE LICENSE FOR OMBRE ROSE PERFUME FROM ALFIN, INC.
NEW YORK, July 19 /PRNewswire/ -- Jean Philippe Fragrances, Inc. (NASDAQ-NMS: JEAN) announced today that its subsidiary, Inter Parfums, S.A., has purchased from Alfin, Inc. (AMEX: AFN) all of their rights under a license agreement with Jean Charles Brosseau, S.A. for the Ombre Rose Perfume line and has agreed to purchase all existing Ombre Rose inventory. The aggregate purchase price for the license and inventory is $3,500,000. Jean Madar, the president and chief executive officer stated: "Since the initial introduction of Ombre Rose, with its classically designed and engraved bottle, Ombre Rose quickly became a success in over 50 countries with excellent representation in the Far East. The acquisition of the worldwide Ombre Rose license along with the recently announced signing of a worldwide license agreement for the Burberrys fragrance line, represents a giant step forward in contributing to the growth of the company's international operations." Philippe Benacin, the president and chief executive officer of Inter Parfums stated: "The products covered under this license agreement complement our existing lines of fragrances and can be sold in the same distribution channels without incurring significant additional costs. Our strategy will be to reposition the line for sale to better known department stores and perfumeries. Distribution within the United States will remain in the hands of the current distributor, Fragrance Marketing Group, and the line will be marketed to department stores, specialty stores and certain drug stores." Philippe Benacin further stated: "We expect that our efforts in the repositioning of the Ombre Rose line will within a few years enable us to reach the $8 million in net sales achieved by Ombre Rose in the fiscal year ended July 1992." Jean Philippe Fragrances is a manufacturer and distributor of fragrance and cosmetics: (i) domestic and international licensed fragrances and cosmetics, (ii) alternative designer fragrances for men and women in North and South America and (iii) moderately priced fragrances, internationally. -0- 7/19/93 /CONTACT: Russell Greenberg, executive vice president of Jean Philippe Fragrances, 212-983-2640/ (JEAN)
CO: Jean Philippe Fragrances, Inc. ST: New York IN: HOU SU: TNM
SH-TS -- NY074 -- 3151 07/19/93 14:36 EDT
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|Date:||Jul 19, 1993|
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