Parlux Licenses Hip-Hop Artist Fragrances Via Profit-Sharing Deals
This article was originally published in The Rose Sheet
Executive SummaryParlux Fragrances maintains a partnership to develop worldwide fragrances for major hip-hop artists and an unidentified female singer could at least double its sales within two years
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The Miss Universe Organization is first to sign a licensing agreement with fragrance marketer and distributor Omni Scents, founded by former Parlux Fragrances CEO Neil Katz. Firm looks forward to launching three scents under the deal in August, noting that approximately 1 billion people in 190 countries tuned in to the 2012 Miss Universe pageant.
Sales of celebrity scents are estimated at $1.3 billion globally, but with a crowded market, profits have shrunk, according to panelists at a recent Fragrance Foundation event.