P&G trimming fragrance portfolio: Mont Blanc goes to Inter Parfums
After the earlier news that Procter & Gamble were to sell the license for Valentino fragrances to Puig
, comes the announcement that Inter Parfums (who create scents for Burberry, Paul Smith and Van Cleef amongst others) have signed a license agreement to create, produce and distribute perfumes and ancillary products under the Mont Blanc
brand. This agreement is for ten and a half years and will take effect on July 1, 2010.
Lutz Bethge, Chief Executive Officer of Mont Blanc, declared: "Mont Blanc has achieved a world-renowned position in the luxury segment and become a purveyor of exclusive products which reflect today’s exacting demands for timeless design, tradition and master craftsmanship. In the past few years, Mont Blanc’s product range has been expanded to Swiss made watches, male accessories and female jewellery, luxury leather goods and eyewear. We believe that Inter Parfums will be a good partner to further develop and establish the brand successfully in the fragrance segment."
Philippe Benacin, Chairman and Chief Executive Officer of Inter Parfums, S.A., added: "Through its leadership positions in writing instruments, watches and leather goods, promising growth outlook in women's jewellery, its active presence in more than 70 countries, a network of more than 350 boutiques worldwide and its high standards of product design and quality, Mont Blanc offers growth potential for development in fragrances and ancillary products. This partnership with the world-renowned more than 100-year-old luxury brand will further strengthen Inter Parfums prospects for continued expansion in the selective perfume market."
Mont Blanc's first step into the fragrance market was with Presence
in 2001, in partnership with Wella's Cosmopolitan Cosmetics division. in 2003, Procter & Gamble
acquired the rights to Wella's fragrances which included Dunhill, Escada and Gucci.