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Cosmair/Guy Laroche v. Perfumania settlement

This article was originally published in The Rose Sheet

Executive Summary

Perfumania agrees to destroy inventory of allegedly counterfeit Drakkar Noir Guy Laroche men's scent as part of the settlement of a lawsuit filed against the firm by Cosmair, the exclusive U.S. distributor of Guy Laroche fragrances, and Guy Laroche S.A. in December 1992. The settlement also stipulates a mutual release of all parties' claims against each other; other terms of the settlement were not disclosed. According to the plaintiffs, in early 1992, Perfumania purchased about 146,000 pieces of counterfeit Drakkar Noir that it "knew or should have known" were not authentic. Perfumania admits no wrongdoing and says that the settlement will not have a material effect on the company's operating results because it took a reserve in mid- 1992 to provide for the possibility that the allegedly counterfeit goods would have to be destroyed
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