NEW YORK - David Yurman, the 26-year old jewelry firm based here, has inked a deal for its first fragrance with Groupe Clarins.
Paul Blum, Yurman’s chief executive officer, said in an interview that the fragrance was an integral aspect in the $500 million firm’s international expansion plans. Terms of the deal, which was signed Tuesday, were not disclosed.
“For the best product extensions, it’s important to have two things,” said Blum. “It needs to be an understandable evolution of the brand, which the consumer has an emotional relationship with, and there has to be a close relationship to the brand.”
Blum plans on increasing the jewelry company’s focus on watches and men’s jewelry, fairly recent additions to its product array, but said the company won’t license out many categories, which was a strategy he employed in his 15-year stint as president of Kenneth Cole.
David and Sybil Yurman, the husband and wife founders of the firm who appointed Blum the company’s first ceo in January, will work closely with Clarins on designing the bottle and the juice of the fragrance. David is designer and chairman of the firm, while Sybil is president and chief marketing officer.
No launch date or name has been set for the fragrance, though ancillary products are also part of the contract.
“The real big news is the fragrance,” said Jonathan Zrihen, group president and ceo of Groupe Clarins USA, of his first big project since taking his post in September, noting that the companies had been in talks for over four months. “Clarins has always given a lot of attention to the personality, the values and the creativity of the brands we’ve been signing licenses with. We are more interested in the people behind the brand and what we really liked in the David Yurman brand is the personality of the creators.”Zrihen said it was too early to project sales.
For complete coverage, see tomorrow's issue of WWD.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)