Home / Knowledge / News / Fashion / Parlux Fragrances inks deal with Jay-Z
Parlux Fragrances inks deal with Jay-Z
17
Apr '09
Parlux Fragrances, Inc announced that it has signed an agreement with Iconic Fragrances, LLC (“Iconic”), a licensing company in which entertainment mogul and icon Shawn “JAY-Z” Carter is a principal. The agreement includes individual worldwide fragrance licenses for multiple Grammy award winning and multi-platinum selling international entertainers Rihanna and Kanye West.

Iconic also is in the final stage of negotiations for a worldwide fragrance license with Shawn “JAY-Z” Carter, and in discussions with a well-established female artist. The agreement provides for the payment of royalties, profit sharing, and the issuance of warrants to purchase common shares of Parlux at a strike price of $5.00 per share. The warrants will be issued to Iconic and the celebrities and their respective affiliates. Details of the transaction are to be provided in Parlux's Form 8-K filing.

Neil Katz, Chairman and Chief Executive Officer of Parlux said, “We have been negotiating this agreement for over nine months. We believe that its implementation, combined with the success of our core brands, will allow us to significantly increase revenues and improve our bottom line. The investments we have made to build a positive relationship with our customers and improve our standing in the industry made us an attractive partner for Iconic.” Shawn “Jay-Z” Carter commented, “We are excited for the opportunity to partner with Parlux and their management team in the launch of these dynamic new brands. This venture will take what is already a successful franchise at Parlux to a new level.”

Mr. Katz added, “We are extremely excited to begin work on our projects with Rihanna and Kanye West. Each is an extremely highly regarded celebrity at the top of his or her profession who is undoubtedly going to make an indelible impression in the fragrance industry, just as each has done in the entertainment world. Their stars continue to rise rapidly in the entertainment arena, which will represent a terrific springboard for us in launching their fragrance brands. This agreement also enhances our attractiveness to other premier talents interested in associating with an established manufacturer and distributor of fragrance products.” “We are conscious of the general economic conditions that have unfairly affected the value of our shares for our shareholders. However, we believe this proactive investment by JAY-Z, Rihanna and Kanye West is an indication to the market place of the underlying value of Parlux.”

Parlux Fragrances Inc. is a manufacturer and international distributor of prestige products. It holds licenses for Paris Hilton, Jessica Simpson, GUESS?, Nicole Miller, Natori, Queen Latifah, Marc Ecko, XOXO, Ocean Pacific (OP), Andy Roddick, babyGund, and Fred Hayman Beverly Hills designer fragrances, as well as Paris Hilton watches, cosmetics, sunglasses, handbags and other small leather accessories.

Parlux Fragrances Inc


Must ReadView All

FDI in Vietnamese textile-garment projects on the rise

Apparel/Garments | On 24th Jun 2018

FDI in Vietnamese textile-garment projects on the rise

The European Union-Vietnam Free Trade Agreement and the Comprehensive ...

Courtesy: Alizilla

Apparel/Garments | On 24th Jun 2018

Alibaba Group sets up office in Kuala Lumpur

Strengthening its commitment to Malaysia, Alibaba Group has set up an ...

Bombay Dyeing plans to wind up Indonesian JV

Textiles | On 24th Jun 2018

Bombay Dyeing plans to wind up Indonesian JV

Bombay Dyeing & Manufacturing Co Ltd plans to wind up its loss making ...

Interviews View All

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search