UNILEVER AGREES TO RELINQUISH FENDI TRADEMARK RIGHTS
UNILEVER AGREES TO RELINQUISH FENDI TRADEMARK RIGHTS NEW YORK, Jan. 20 /PRNewswire/ -- Unilever (NYSE: UN) announced
today that it has agreed in principle with Sanofi to relinquish its rights to use, in certain parts of the world, the FENDI trademark in connection with fragrances and cosmetics.
The worldwide rights are currently divided geographically between the two companies, with Elizabeth Arden exercising them on behalf of Unilever and Fendi Profumi on behalf of Sanofi. This move is in line with Elizabeth Arden's intention to concentrate on prestige brands for which it has worldwide rights. At the same time, it has been agreed in principle that once Sanofi has re-established its worldwide FENDI rights, John A. Benckiser GmbH, of Germany, will acquire from Sanofi all of the shares in the capital of Fendi Profumi, and from Elizabeth Arden, its FENDI inventories. It is intended that the transactions will be completed by the end of April 1992. Terms are not being disclosed. -0- 1/20/92 /CONTACT: John T. Gould, Jr. of Unilever, 212-906-4694/ (UN) CO: Unilever ST: New York IN: SU: FC-TS -- NY024 -- 1377 01/20/92 11:06 EST
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|Date:||Jan 20, 1992|
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