Italian luxury brand Salvatore Ferragamo has entered into a fragrance agreement with international perfume manufacturer Inter Parfums, Inc. (Interparfums). The deal grants Interparfums an exclusive worldwide license to produce and distribute Ferragamo brand perfumes, effective from October 2021 for a period of 10 years, with a potential five-year extension based on certain conditions. The fragrances will be manufactured in Italy and managed by a wholly-owned Italian company based in Florence. Leonardo Ferragamo, the president of Salvatore Ferragamo, expressed confidence in the partnership, highlighting Interparfums’ competence and creativity in preserving the brand’s values and heritage. The luxury label aims to strengthen its beauty business by capitalizing on Interparfums’ expertise and resources. Ferragamo has relied on licensing agreements for its eyewear and watches, while developing its fragrances internally.
Salvatore Ferragamo embarked on a restructuring process in 2019, following a challenging period in previous years and setbacks due to the Covid-19 pandemic. However, the company has shown signs of recovery, with a 10.3% year-over-year increase in first-quarter revenues totaling 245 million euros and a significant reduction in quarterly net loss.
Interparfums, known for manufacturing fragrances under license for various brands, reported net sales of $198.5 million in Q1 and net income of $27.7 million. Jean Madar, the chairman and CEO of Interparfums, sees the partnership with Salvatore Ferragamo as an opportunity to further develop their business in the fashion and luxury sector.
The collaboration between Salvatore Ferragamo and Interparfums signifies a significant step for both brands, combining Ferragamo’s heritage and Interparfums’ expertise in fragrance production. This partnership promises a fruitful future in the fashion and luxury industry.
Useful links:
1. Salvatore Ferragamo Official Website
2. Inter Parfums Official Website
