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Inter Parfums, Inc. announced that its 74% owned Paris-based subsidiary, Inter Parfums SA, has signed a 15-year exclusive worldwide license agreement with Boucheron to create, produce and distribute perfumes and ancillary products under the Boucheron brand. The agreement commences on Jan. 1, 2011 and replaces a previous license with L'Oréal that was terminated by mutual consent.
Pursuant to the license agreement, according to a press release, Inter Parfums will work closely with Boucheron to capitalize on the brand's ultra-luxury positioning. The transfer of inventory will take place early in 2011, and the development of a new fragrance is planned for 2012. Plans call for Interparfums Luxury Brands, a recently formed United States subsidiary of Inter Parfums SA, to handle distribution of the brand in the U.S.
"This is an exciting opportunity for Boucheron and Inter Parfums, as we seek a new strategic direction for our fragrances and build on the Boucheron's unique position in the jewelry world," said Jean-Christophe Bédos, president and CEO, Boucheron. "Boucheron has been a prestige brand for over 150 years with a reputation for trendsetting in luxury jewelry. I'm certain that this adventure will continue with Inter Parfums."
"We are very pleased to welcome Boucheron fragrances as the latest addition to our portfolio of top-end luxury brands," said Philippe Benacin, CEO, Inter Parfums SA. "I believe that, together, we will be successful in creating new inspiring products. Boucheron is an incredible brand that will contribute to our continuing strategy for developing the ultra-luxury sector."