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Parlux studies sale optionsParlux studies sale options
Tina Milton
12-Jul-2005
The US fragrance house reveals it is exploring a possible sale of the business
Parlux Fragrances, which produces the Paris Hilton fragrance and Andy Roddick cologne, has said it is exploring various ways of enhancing shareholder value, including the sale of the company.The company has retained Citigroup Global Markets and Oppenheimer & Co as financial advisors but insisted that the sale of the business was not guaranteed.
Reports indicate chairman and CEO Ilia Lekach is keen to cash in on the company's success, as net sales for the year ended March 31 increased by 25% to $100.3m compared to $80.5m in the previous year.
Parlux is a manufacturer and international distributor of prestige fragrances and holds the licenses for Perry Ellis, Paris Hilton, Guess?, XOXO, Ocean Pacific, Maria Sharapova, Andy Roddick, babyGund and Fred Hayman Beverly Hills. Parlux also recently signed licenses to manufacture and distribute Paris Hilton watches, cosmetics, handbags and other small leather accessories.
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(1-Aug-2005) - Parlux Fragrances, which produces the Paris Hilton fragrance and Andy Roddick cologne, is exploring a number of strategies to enhance shareholder value, including the possible sale of the company
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