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.
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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.
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