By  on July 26, 2012

Inter Parfums Inc. said late Thursday its talks with Burberry had ended and that the fashion brand would buy back its fragrance license at the end of the year, taking about half of the beauty company’s net sales with it.

Burberry will pay 181 million euros, or $220.8 million at current exchange, exclusive of receivables, inventories and other assets.  In a recent research note, Citi said the Burberry fragrance business makes up about 2 percent of Burberry’s revenues and about 50 percent of Inter Parfums’.

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