In Brief: Alfin
This article was originally published in The Rose Sheet
Alfin: Adrien Arpel President Adrienne Newman resigns Oct. 28, claiming breach of employment agreement, the company reported. Alfin maintains that it "has fully complied with all terms of the employment agreement and that the termination by Ms. Newman is itself a breach of the employment agreement." The company added, however, that it hopes to resolve the dispute peacefully. Alfin acquired Adrien Arpel as a wholly owned subsidiary in 1990. Newman founded the cosmetics business in 1962. Alfin posted sales for FY 1996 (ended July 31) of $34.7 mil., an increase of 8% over the prior-year period. Net earnings for the year increased 97.3% to $2.7 mil. from $1.4 mil in 1995...
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