Apr 15, 2010
Elizabeth Arden to sell John Varvatos fragrances
Apr 15, 2010
CHICAGO, April 15 (Reuters) - Men's fashion designer John Varvatos is switching fragrance houses, leaving his relationship with Japan's Shiseido (4911.T) to enter a new licensing agreement with Elizabeth Arden Inc (RDEN.O).
The agreement between Elizabeth Arden and John Varvatos Apparel Corp includes the development, marketing and distribution of men's and women's fragrances.
Fragrances already on the market include the John Varvatos classic fragrance, launched in 2004, along with John Varvatos Vintage, John Varvatos Artisan and a women's fragrance. Those items, costing about $57 to $92 per bottle, are sold mainly in upscale U.S. department stores and some international markets.
"We enjoyed our relationship with Shiseido and are grateful for their efforts in building a successful John Varvatos fragrance franchise," Varvatos said in a statement.
Shiseido Americas Corp will continue to sell John Varvatos fragrances until June 30, Elizabeth Arden said.
Shares of Elizabeth Arden, whose other designer fragrances include Alberta Ferretti and Badgley Mischka, rose 5 cents to $18.83 in early Nasdaq trading. Shares of VF Corp (VFC.N), which sells John Varvatos apparel, slipped 34 cents to $83.36 on the New York Stock Exchange. (Reporting by Jessica Wohl, Editing by Maureen Bavdek)
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