This article was originally published in The Rose Sheet
Acquisition of distributor Direct Fragrances expands Allou's distribution reach to 20,000 independent retailers. The cash deal, which is cash-flow positive and anti-dilutive, provides Allou with an additional $8 mil. in revenues, the company said. Under the agreement, announced June 24, Direct Fragrances will operate as a wholly owned subsidiary with most of management remaining in place. For fiscal 1998 (ended March 31), Allou reported a sales increase of 5.8% to $301.8 mil., and a net income gain of 5.5% to $4.3 mil. The firm's Internet retailing business, The Fragrance Counter, had $900,000 in revenues during the year, with 2 mil. visitors to the site, Allou said. The distributor noted the new agreements with America On-Line, Excite, Lycos and Yahoo should increase the number of visitors to the Web site to 14 mil...
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