19 March 2015
Acquisition of the Rochas brand
Interparfums has entered into an agreement with The Procter & Gamble Company to acquire the Roches brand.
Founded by Marcel Roches in 1925,the brand began as a fashion house and expanded into perfumery in the 50s under Helene Roches' direction.The Roches brand achieved net sales of US$46 million in 2013/2014 financial year, driven mainly by the "Eau de Rochas" fragrance line. Rochas brand sales include US$2 million of royalties generated by the fashion and accessory business via its portfolio of license agreements.
This transaction will cover all brand names and registered trademarks for Roches (Femme, Madame, Eau de Rochas, ....), mainly for class 3 (cosmetics) and class 25 (fashion).This acquisition will be payable in cash on the closing date for US$108 million and financed entirely through a medium term loan.
This transaction is expected to be completed within the first half of 2015, subject to closing conditions.
Philippe Benacin, Chairman and CEO declared: "For the "first time, this acquisition will integrate both fragrances and fashion. It will open up new opportunities in terms of creativity as well as aesthetic design and marketing choices. It will also allow us to apply a global approach to managing a fragrance brand boasting very high name recognition and without time constraints. Finally, this acquisition has generated enormous enthusiasm internally and high motivation by all to reestablish Rochas' position. even more
preeminent in the universe of luxury. Under Interparfums' scope,we could generate approximately EUR25 million of sales in 2016."
Contact
Interparfums SA
Philippe Benacin
President and CEO
+33 1 53 77 00 00
www.interparfums.fr
