ELLIS SCENT SALE: Parlux Fragrances Inc. has signed a letter of intent to sell its Perry Ellis fragrance business to Victory International (USA) LLC. Terms of the letter, which are subject to a definitive agreement and all necessary approvals, call for Victory to pay Parlux up to $140 million, a figure that includes $120 million for rights to the Perry Ellis business and up to $20 million for inventory. Fort Lauderdale, Fla.-based Parlux also holds fragrance licenses for Paris Hilton, Guess, XOXO, Ocean Pacific, Maria Sharapova, Andy Roddick, Baby Gund and Fred Hayman Beverly Hills. Edison, N.J.-based Victory holds the Carlos Santana and Nikki Taylor fragrance licenses and also distributes Fred Hayman scents for Parlux. The proposed acquisition is expected to be finalized within 90 days.
DREAMWEAVERS: Brides Against Breast Cancer will hold a wedding gown sale for the first time in New York tonight through Saturday at the Prince George Ballroom at 15 East 27th Street. More than 25,000 wedding gowns will be sold at the event, which raises money to help finance the wishes of terminally ill breast cancer patients and their families. Scores of bridal resources have donated gowns, including Amsale, Carolina Herrera, Priscilla of Boston, Romona Keveza and Anne Barge. Sales will also be held in Chicago, Boston, Philadelphia, Baltimore and Washington, D.C., this fall.
DTC SETS DIAMOND LINE: The Diamond Trading Co., the sales and marketing arm of the De Beers Group, has launched Kya, a diamond jewelry line aimed at South Africa&’s emerging female middle class. The collection consists of a pendant, ring and earrings priced from about $450 to $4,500 depending on the quality of the stones used and whether they are set in platinum, white gold, yellow gold or silver. “In the past, the tourist market had been the biggest area of growth, but with the growing middle class in South Africa, it was natural for the DTC to shift our focus to the domestic market,” said Thoko Modisakeng, marketing manager of the DTC in South Africa. The collection is being produced in conjunction with DTC site holders Geffens Diamond Cutting Works, Livingstones Jewelry, KGK Star Rough and Rosy Blue Mfg. and will be sold starting Sept. 1 in 300 jewelry stores in South Africa. The DTC is also considering expanding the collection to Namibia and Botswana.