G-III Apparel Signs Licensing Agreement With Inter Parfums

G-III Apparel Group Ltd GIII and Inter Parfums Inc IPAR have entered into a long-term global licensing agreement to create, develop, and distribute fragrances and fragrance-related products under the Donna Karan and DKNY brands.
G-III Apparel is the parent company of the Donna Karan and DKNY brands.
Inter Parfums will take on the exclusive license, effective July 1, 2022. The financial terms of the agreement were not disclosed.
The parties also plan to launch new fragrances under these brands in 2023.
Price Action: GIII shares closed lower by 5.82% at $28.30 on Thursday.