Inter Parfums completes acquisition of P&G’s Rochas brand
NEW YORK — Inter Parfums has announced that its majority owned Paris-based subsidiary, Interparfums SA, has closed on its previously announced acquisition of Rochas brand from Procter & Gamble.
Interparfums completed the acquisition for $108 million, excluding inventory.
Based on currently low inventory levels and the timetable for its integration, Inter Parfums stated that it does not anticipate a significant impact on total sales, and is therefore maintaining its previously articulated guidance for 2015 net sales of approximately $470 million.
"This acquisition opens up a new page in the company's history by integrating for the first time both fragrances and fashion. This will allow us to apply a global approach to managing a fragrance brand with complete freedom in terms of creativity and aesthetic choices and a very high degree of visibility to establish a position of even greater preeminence for Rochas in the universe of luxury. We will now take time in the second part of 2015 to define the priorities for the brand's development and build a sustainable long-term strategy," stated Jean Madar, chairman and CEO of Inter Parfums.