Inter Parfums Signs Van Cleef Pact

Fragrance maker Inter Parfums Inc. said its French subsidiary Inter Parfums SA has signed a worldwide license agreement with jewelry brand Van Cleef & Arpels. Financial terms were not disclosed. Inter Parfums will make and distribute perfumes and related bath and body products with the Van Cleef & Arpels brand name. Van Cleef & Arpels is owned by luxury products maker Compagnie Financiere Richemont, based in Geneva, Switzerland. Both companies have an option to extend the 12-year deal for five years on or before June 1, 2018, if certain sales targets are met. YSL Beaute, Van Cleef & Arpels’ previous fragrance licensee, has agreed to terminate the deal early if Inter Parfums SA buys YSL Beaute inventory. To ease the transition, Inter Parfums SA said it will use YSL Beaute’s filling facilities for perfume and other products for two years.