Salvatore Ferragamo negotiating fragrance license with Interparfums
Florentine luxury house Salvatore Ferragamo has announced that it is in exclusive negotiations with international fragrance group Interparfums about a global licensing deal covering the production and distribution of its perfumes and cosmetics products.
The Italian label, which has developed its fragrances in house up until now, is hoping to boost its beauty business while also preserving its values and heritage. Salvatore Ferragamo, whose offering includes men's and women's ready-to-wear, leather goods and footwear, already produces its eyewear and watches through licenses.
Following two difficult years in 2017 and 2018, the house, which began a restructuring process in 2019, saw its results heavily impacted by the Covid-19 pandemic. In the first quarter of 2021, however, the company's revenues rose 10.3% to 245 million euros, while its loss narrowed significantly.
As for Interparfums, the specialist in fragrance licenses, which produces the perfumes of brands including Montblanc, Coach and Repetto, saw its revenues increase 28% to 132.6 million euros in the first quarter, a strong performance following a tough 2020, which knocked off a quarter of the company's sales.
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