Aqua di Parma sale
This article was originally published in The Rose Sheet
Executive Summary
French luxury goods giant acquires 50% stake in Italian fragrance and accessories manufacturer Acqua di Parma and will be responsible for developing the company's perfumes, LVMH states. Italian brand, which generated sales in 2000 of approximately $9.1 mil. ([Euro]1=$.90), markets fragrances for men and women, soaps, talc and candles. Aqua di Parma is "an excellent complement to LVMH's Perfumes & Cosmetics division," LVMH says, noting acquisition is not expected to materially affect LVMH's 2002 earnings outlook. LVMH plans to develop new product lines for the brand and build free-standing stores "in the most important capital cities in the world," according to the company
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