PARIS — Parfums Azzaro has signed a long-term partnership agreement with The Porsche Design Group, a subsidiary of the famed carmaker that produces Porsche brand accessories, to create and distribute men's fragrances.
Financial terms of the deal were not disclosed.
The first Porsche scent under the new fragrance brand is expected to be introduced in early 2008. It will be sold through the distribution network of Groupe Clarins, Parfums Azzaro's owner.
Executives at Azzaro and Porsche Design were effusive in praising the new agreement.
"The strong emotional brand values of Porsche Design, as well as the expertise of the Porsche Design Studio, are the ideal platform for the launch of new fragrances: clear and linear shapes, finest traditional aspects of perfumery, together with the modern technology of the packaging will allow us to join and enhance the lifestyle of Porsche Design," said Gerard Delcour, president of Parfums Azzaro, in a statement.
Added Siegmund Rudigier, president and chief executive officer of the Porsche Design Group, in the statement, "Our new fragrance line for men will strengthen our luxury product portfolio and is therefore an important step for our brand."
The Porsche Design Group, based in Bietigheim-Bissingen, Germany, is a subsidiary of Porsche AG and has a business focused on men's accessories. The company is currently widening its offer through licensing agreements to include electronics, furniture, fashion and sports products.
Paris-based Parfums Azzaro generated over 95 million euros, or $121 million, in sales last year. More than 91 percent of its business is rung up from products for men.
The Azzaro-Porsche partnership is the latest in a fleet of beauty-carmaker deals. Lotus recently signed on Distinguished Fragrance Brands Ltd. and Riviera Concepts creates Hummer fragrances, to name but two.