HONG KONG--(BUSINESS WIRE)--Coach, Inc. (NYSE: COH) (SEHK: 6388), a leading New York design house of modern luxury accessories and lifestyle collections, and InterparfumsSA (Euronext: ITP), the creator of prestige perfumes and cosmetics, today announced that they have entered into an 11-year exclusive worldwide fragrance license agreement. Under the agreement, Interparfums will create, produce and distribute new perfumes and fragrance-related products, including new men’s and women’s scents. Interparfums will distribute these fragrances globally to department and specialty stores and duty free shops, as well as in Coach retail stores beginning fall 2016.
Victor Luis, Chief Executive Officer of Coach, Inc., said, “We’ve been pleased with the performance of our fragrance business since our launch. As our brand transformation continues to progress, and with Interparfums as our partner, we know we can leverage this category into a much larger global opportunity. Given Interparfums’s successful track record of cultivating and growing fragrance lines for fashion and luxury goods brands they were the ideal choice to take our business to the next level.”
Philippe Benacin, Chief Executive Officer of InterparfumsSA stated, “Coach is an iconic brand focused on relevance and innovation. We greatly respect what the company has already accomplished in the realm of fragrance, most notably with Signature and Poppy, the brand’s well-established top selling scents. We look forward to developing new fragrances that capture the spirit of the Coach brand, and to taking the portfolio to a larger audience. With our distribution network, we have a great opportunity to build upon the success already seen with Coach fragrance by expanding the distribution globally and by capitalizing on the growing recognition of the brand in international markets.”
The distribution of Coach by Interparfums is expected to begin in the fall of 2016. The launch will be supported by an integrated marketing and communications campaign, including widespread national print and web, among other media.
About Coach:
Coach, established in New York City in 1941, is a leading design house of modern luxury accessories and lifestyle collections with a rich heritage of pairing exceptional leathers and materials with innovative design. Coach is sold worldwide through Coach stores, select department stores and specialty stores, and through Coach’s website at www.coach.com. Coach’s common stock is traded on the New York Stock Exchange under the symbol COH and Coach’s Hong Kong Depositary Receipts are traded on The Stock Exchange of Hong Kong Limited under the symbol 6388.
About InterparfumsSA :
Founded by Philippe Benacin and Jean Madar in 1982, InterparfumsSA develops, manufactures and distributes prestige perfumes and cosmetics as the exclusive worldwide licensee for Montblanc, Jimmy Choo, Karl Lagerfeld, Boucheron, Van Cleef & Arpels, Repetto, Paul Smith, S.T. Dupont and Balmain. The Company also owns Lanvin Perfumes. Its products are sold in over 100 countries worldwide in a selective distribution network. In 2014, InterparfumsSA posted strong results with consolidated sales of nearly €300 million, shareholders' equity of €368 million and net cash of €225 million. The Company is listed on Euronext Paris with a market capitalization around €900 million.
Neither the Hong Kong Depositary Receipts nor the Hong Kong Depositary Shares evidenced thereby have been or will be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States or to, or for the account of, a U.S. Person (within the meaning of Regulation S under the Securities Act), absent registration or an applicable exemption from the registration requirements. Hedging transactions involving these securities may not be conducted unless in compliance with the Securities Act.
This press release contains forward-looking statements based on management's current expectations. These statements can be identified by the use of forward-looking terminology such as "may," "will," "should," "expect," "intend," "ahead," "remain," "estimate," "forward," "on track," "on course," "are positioned to," "continue," "project," "potential," "to buy," "guidance," "target," "forecast," "anticipated," or comparable terms. Future results may differ materially from management's current expectations, based upon risks and uncertainties such as expected economic trends, the ability to anticipate consumer preferences, the ability to control costs, etc. Please refer to Coach’s latest Annual Report on Form 10-K, its Quarterly Report on Form 10-Q for the quarterly period ended December 27, 2014 and its other filings with the Securities and Exchange Commission for a complete list of risks and important factors.