Arden
This article was originally published in The Rose Sheet
Executive Summary
Elizabeth Arden has acquired the fragrance brand licenses and certain assets of Toronto, Canada-based firm Riviera Concepts, Arden announces July 5. Under the terms of the agreement, Arden acquired the Alfred Sung brand portfolio,which includes SUNG Alfred Sung, SHI Alfred Sung and JEWEL Alfred Sung, the designer fragrance brands of Nanette Lepore, Cynthia Rowley, Lulu Guinness and Bob Mackie, as well as HUMMER Fragrance for Men under a licensing agreement with General Motors Corporation. In addition, Elizabeth Arden also purchased the rights to the Badgley Mischka fragrance line, which will debut in North America this fall (1"The Rose Sheet" March 13, 2006, p. 10). Going forward, Arden will focus on "building these brands on a more global basis," the firm says. Riviera Concepts notes Arden offers the licenses a "tremendous opportunity" for growth. "Each brand will benefit from their global infrastructure, sales, marketing and distribution capabilities," firm adds. The fragrances are sold in department stores in the U.S. and Canada including Bloomingdale's, Macy's and Lord & Taylor...
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Arden Q1
Fragrance launches including With Love...Hilary Duff and Danielle by Danielle Steel and skin care products such as a new Prevage anti-aging eye product helped drive a 12.1% increase in revenues to $254.8 mil. in the first quarter (ended Sept. 30), Elizabeth Arden announces Nov. 3. The performance also benefited from the addition of brands from the Rivera Concepts and Sovereign Sales acquisitions (1"The Rose Sheet" July 10, 2006, In Brief and 2"The Rose Sheet" Aug. 21, 2006, In Brief). Britney Spears fragrances grew 14% due to gains from the Fantasy and Midnight Fantasy scents, while the house of Elizabeth Taylor was up 37%, driven by sales of a limited edition White Diamonds perfume. Arden's U.S. mass fragrance business was up 10% in the quarter, and non-Arden department store scents advanced 8%. Arden's net loss in Q1 was $1.31 mil., including restructuring charges, compared to a net gain of $895,000 in the prior-year period...
Elizabeth Arden
The acquisition of Livonia, Michigan-based prestige fragrance distributor Sovereign Sales will provide Arden with increased marketing share in the North American mass retail channel and allow the company to better leverage its sales and distribution structure, firm reports during Aug. 17 fourth quarter (ended June 30) earnings call. The acquisition was completed Aug. 11 and was financed with free cash flow and borrowings under an expanded bank credit facility. Arden recently acquired fragrance brand licenses from Canadian firm Riviera Concepts (1"The Rose Sheet" July 10, 2006, In Brief). The acquired businesses are expected to contribute to double-digit increases in sales this year. Fiscal year 2007 earnings per share will be in the range of $1.10-$1.20. Net sales for FY 2006 increased 3.7% to $954.6 mil., with net earnings fell 12.5% to $34.2 mil., excluding pre-tax charges. The Federated/May department store merger and inventory reduction initiatives led by mass retailers had a negative impact on sales and operating margins in FY 2006, firm notes...
Badgley Mischka Scent Struts Into High-End Doors This Summer
Fashion designer Badgley Mischka's eponymous scent for women will debut in high-end department stores in August, according to Riviera Concepts