- Manufacturer and distributor of prestige perfumes Inter Parfums, Inc. IPAR signed an agreement with Salvatore Ferragamo SpA, an Italian luxury goods company, for an exclusive and worldwide license for the production and distribution of Ferragamo brand perfumes.
- The license will be effective from October 2021 and will last for 10 years with a 5-year optional term.
- Inter will operate through a wholly-owned Italian company, based in Florence, and will also guarantee production in Italy.
- "Inter Parfums’ great commercial expertise will also ensure a new boost to the business of our fragrances, which will be distributed through a carefully selected sales network," said Salvatore President, Leonardo Ferragamo.
- Price action: IPAR shares are trading higher by 0.67% at $71.49 on the last check Wednesday.
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