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Parlux

This article was originally published in The Rose Sheet

Executive Summary

Fragrance manufacturer and distributor is interested in selling certain non-core lines and has engaged GLMAC, the intermediary behind the firm's letter of intent to sell Perry Ellis,to assist in the effort, company announces Sept. 6. "We currently have a number of product lines that have been successful but do not have the upside as other potential opportunities available to us," Parlux said, noting the sale of non-core licenses will help fund new fragrance ventures. In August, Parlux announced plans to sell Perry Ellis fragrance rights to Victory International for $140 mil. (1"The Rose Sheet" Aug. 21, 2006, In Brief). Parlux also holds fragrance licenses for the Paris Hilton,Guess?,XOXO and Ocean Pacific brands. Separately, Parlux reported fourth quarter (ended June 30) sales increased 21% to $40.8 mil., although the firm experienced a net loss of $14.1 mil. due to a non-cash, share-based compensation charge of $16.2 mil...
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