HAYMAN, LA PARFUMERIE SET MERGER

Byline: Soren Larson

NEW YORK--A pair of department store niche players, Gale Hayman Inc. and La Parfumerie, said this week they are planning a merger.
The deal is not completed but "should be closed by the end of the month," according to Gale Hayman, chairman and sole stockholder of the firm bearing her name. "The documents are with the lawyers now."
Hayman declined to further discuss the new arrangement before all the details have been ironed out, saying only that "we have strategies for expansion."
"We're merging, but we haven't come up with a name yet for the new company," said Francesco Borghese, president and chief executive officer of La Parfumerie. He noted that some combining of the two firms' sales and marketing staffs would take place, though he didn't elaborate.
"This will definitely give us both more clout," he said. "Delicious [Hayman's latest fragrance] is in some stores where we are not, and we are in some stores where Delicious is not."
The new company will encompass Hayman's fragrances, skin care and makeup, along with La Parfumerie's fragrances and bath and body products. La Parfumerie also is the U.S. distributor of the Italian brand Natural Recipes Perlier.
According to industry estimates, Hayman will do about $20 million at wholesale worldwide this year.
Perlier is projected to have a wholesale volume of $12 million to $15 million this year, boosted by the Nature's One Gardenia scent and a new line of fruit gels. La Parfumerie products are expected to approach $4 million.

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