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
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
