NEW YORK — Inter Parfums Inc., which produces personal care products for Gap Inc. and is the fragrance licensee for Quiksilver, has a new client — women's wear retailer New York & Company Inc.
Inter Parfums and New York & Co. said Wednesday the fragrance producer would design and manufacture a new line of personal care products to be carried at New York & Co.'s 562 retail stores in the U.S. and on nyandcompany.com.
"We anticipate that the initial line of bath and body products will be in New York & Co. stores late this year or early next year," Jean Madar, chairman and chief executive officer of Inter Parfums, said in a statement with New York & Co. "The products that we are developing are designed for the target New York & Co. customer, the fashion-conscious, value-sensitive woman between the ages of 25 and 45."
Under the agreement, Inter Parfums will oversee product development, formula creation, packaging and manufacturing and New York & Co. will handle marketing and selling of the items in its stores, according to the firms.
"Bath and body products represent an ideal new category for brand extension," Richard P. Crystal, New York & Co.'s chairman and ceo, said in the statement. "In addition to increasing our market penetration by opening new stores, an important part of our growth strategy is to offer new, brand-appropriate products to our customers. We expect this effort to assist us in increasing items per transaction and importantly grow sales in a category that is highly demanded by our customer base."
New York & Co. had sales of $802.9 million during the nine-month period that ended Oct. 28. Inter Parfums, which recorded sales of $321.1 million in 2006, develops, manufactures and distributes prestige perfumes and cosmetics as the worldwide licensee for Burberry, Lanvin, Paul Smith, S.T. Dupont, Christian Lacroix, Quiksilver/Roxy, and Van Cleef & Arpels. It also has a controlling interest in men's skin care marketer Nickel S.A.
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