FORT LAUDERDALE, Fla., Jan. 7 /PRNewswire-FirstCall/ -- Parlux
Fragrances, Inc. (Nasdaq: PARL) announced today the acquisition of the
exclusive worldwide licensing rights, along with inventories, molds,
designs and other assets, relating to the XOXO fragrance brand. Parlux
acquired the rights to manufacture and distribute the fragrance lines from
Victory International (USA) LLC. The XOXO fragrance is slated to launch
during the Valentine's Day timeframe in major U.S. department stores, with
an international roll out shortly thereafter. Financial terms of the
agreement were not disclosed.
Ilia Lekach, Chairman and CEO of Parlux, commented, "I am very excited
about this synergistic acquisition, which compliments our recent
successful introduction of the Paris Hilton fragrance in the U.S.
department store channel. XOXO will increase our presence in department
and specialty stores and provide us with important economies of scale."
Mr. Lekach added, "I am pleased that we were able to fund this transaction
entirely from our own cash reserves without the need to utilize our
existing credit facility."
Parlux Fragrances, Inc. is a manufacturer and international
distributor of prestige fragrances and holds the licenses to manufacture
and distribute the designer fragrance brands of Perry Ellis, Ocean Pacific
(OP), GUESS, Paris Hilton, Maria Sharapova, Andy Roddick, and Fred Hayman
Beverly Hills.
The Company may periodically release forward-looking statements
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements involve
known and unknown risks, uncertainties and other factors that may cause
actual results, performance or achievements of the Company or its industry
to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements.
These risks and uncertainties include, among others, future trends in
sales and the Company's ability to introduce new products in a cost-
effective manner. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date thereof.
The Company undertakes no obligation to publicly release the result of any
revisions to these forward-looking statements that may be made to reflect
events or circumstances after the date hereof or to reflect the occurrence
of unanticipated events.
SOURCE Parlux Fragrances, Inc.
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Related links:
http://www.parlux.com
Company News On-Call:
http://www.prnewswire.com/comp/674987.html
CONTACT:
Ilia Lekach, Chairman & CEO of Parlux
Fragrances, Inc., +1-954-316-9008, ext. 116
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