Burberry no longer in talks with Interparfums
Burberry, the iconic British luxury brand, announced on Friday that discussions with Interparfums regarding the possible termination of their licence agreement have ended.
Burberry, the iconic British luxury brand, announced on Friday that discussions with Interparfums regarding the possible termination of their licence agreement have ended.
Interparfums is currently the exclusive worldwide licensee for Burberry fragrance and beauty products.
The firm announced on July 17th that it was talking with the global fragrance company about ending their near 20-year licence agreement by exercising its option to buy out for €181m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Burberry said that it wanted to establish a "new operating model" for the fragrance business and the move would be an attempt to "maintain flexibility in pursuing its objective to develop fully this business in the future."
Nevertheless, Burberry revealed on Friday that it is no longer in talks with Interparfums: "Burberry continues to pursue various strategic options to develop fully its fragrance and beauty business in the future," the company said in a statement.
BC
-
FTSE 100 hits record highs – why is it rising and will we see more gains?
Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
By Marc Shoffman Published
-
How to invest in copper
It may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
By Dominic Frisby Published