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Unable to agree with Inter Pafums on operating model.
July 27, 2012
By: TOM BRANNA
Editor
After several months of discussions, Interparfums and Burberry are unable to agree on final terms on a new operating model for the fragrance and beauty business. As such, on Dec. 31, 2012, Burberry will buy out the license rights for €181 million ($220 million at current exchange rates exclusive of receivables, inventories and other tangible assets). Jean Madar, chairman and CEO of Inter Parfums, commented: “Given our many strengths, we are confident in our outlook as we enter a ne...
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