HBW Insight is part of the Business Intelligence Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

In Brief: Khepra/Vittadini

This article was originally published in The Rose Sheet

Executive Summary

Khepra/Vittadini: Court hearing to consider the termination of Khepra Beauty Group's licensing agreement with Adrienne Vittadini will take place June 25 in the U.S. Bankruptcy Court for the Southern District of New York, according to court documents filed June 11. Vittadini sent a letter terminating the licensing agreement April 23, three days prior to the involuntary Chapter 7 bankruptcy petition filed against Khepra by three of its creditors -- Givaudan-Roure, Beauty Fashion and Jefferson Smurfit. The hearing will consider terms negotiated by Khepra and Vittadini including: termination of the licensing agreement, the sale of Vittadini trademark property (including molds, package design and remaining inventory) to the designer for $1 mil., the waiver of Khepra's $487,000 debt to Vittadini and the right for Khepra to sell $400,000 in existing inventory. Khepra initially opposed Vittadini's request to terminate the agreement, claiming protection under the automatic stay provision of the bankruptcy code. According to the creditors' representative, the debt owed to the companies totals about $761,000. Khepra blamed its financial woes on the termination of its roles as sales agent for Procter & Gamble's prestige fragrances and Iman cosmetics in 1995 and as distributor for Etienne Aigner in February, according to the court documents...
Advertisement
Advertisement
UsernamePublicRestriction

Register

RS002927

Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel