NEW YORK -- Parlux Fragrances has signed a letter of intent to license Fred Hayman's fragrances, including 273 and Fred Hayman's Touch.
Under the terms of the deal, Hayman -- who is founder, chairman and chief executive officer of Fred Hayman Beverly Hills -- will become a major stockholder of Parlux, which is based in Pompano Beach, Fla., according to both companies.
The chairman and ceo of Parlux, Ilia Lekach, is the firm's largest shareholder, said Jeffrey Dame, senior vice president of sales and marketing at Parlux.
Dame said the agreement being hammered out is similar to a typical licensing deal. Parlux will manufacture and market Hayman's existing fragrances and launch any new signature scents.
In addition to 273, Hayman's first women's scent, which was launched in 1989, and Touch, introduced last fall, Hayman's entries have included 273 for Men in 1990, With Love in 1991 and Fred Hayman's Personal Collection, a group of scents sold in Hayman's North Rodeo Drive shop.
Dame cited 273 and Touch in asserting that the Hayman deal will bolster Parlux's fragrance business. He said the acquisition will "almost double" Parlux's worldwide wholesale volume to more than $50 million.
The Hayman fragrances will be managed out of the Florida headquarters, along with Parlux's other scents. The Parlux brands include Todd Oldham, a women's fragrance due out in February; Vicky Tiel, which is now launching Sirene, a women's scent; Francesco Smalto; Animale Parfums, and Daniel de Fasson.
Dame said Parlux will continue to distribute Hayman's fragrances to specialty and department stores. He added that one of the attractions of the deal is that "it gives us an opportunity again to attack the U.S. department stores."
There also is an opportunity for foreign expansion. Hayman's fragrances are distributed in 35 countries, while Parlux does business in 65, Dame said.
Reached for comment in Beverly Hills, Hayman said, "This a great opportunity for both of us," adding, "It will give me a lot more time to spend at the store."
Other facets of Hayman's business, including the Beverly Hills store and his leather goods collection, are not involved in the Parlux deal.Hayman, who originally burst onto the fragrance scene with the landmark launch of Giorgio Beverly Hills in 1982, has spent the last five years building his second fragrance business.
The deal with Parlux, he noted, will give him a partnership that has become necessary in today's crowded and competitive market.
"It is very difficult to do it by yourself," he said. "There are so many launches."
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