Burberry ends talks with Inter Parfums
Burberry has announced that it is to terminate its tie-up with fragrance partner Inter Parfums.
The luxury fashion brand said it ended talks with Inter Parfums after failing to agree terms on a new operating model for its fragrance and beauty business.
Earlier this month Burberry announced that it had served notice of its intention to terminate the licence agreement with Inter Parfums on 31 December 2012 but that discussions regarding a potential new deal were continuing.
However on Friday Burberry said: “Discussions with Inter Parfums SA have ended. Burberry continues to pursue various strategic options to develop fully its fragrance and beauty business in the future.”
Burberry will pay Inter Parfums €181 million to extricate itself from the agreement.
