FORT LAUDERDALE, Fla., Sept. 6 /PRNewswire-FirstCall/ -- Parlux
Fragrances, Inc. (Nasdaq: PARL) announced today that it had engaged GLMAC
to assist in the sale of certain non-core product lines. GLMAC was the
intermediary for the recently announced letter of intent to sell the PERRY
ELLIS fragrance business.
Ilia Lekach, Chairman and CEO of Parlux, said, "We continue to pursue
new fragrance licenses and to concentrate our efforts on our fast-growing
fragrance properties. We currently have a number of product lines that have
been successful but do not have the upside as other potential opportunities
available to us. We expect the sale of the non-core licenses will be cash-
flow positive and provide funding for potential new fragrance ventures."
Parlux Fragrances, Inc. is a manufacturer and international distributor
of prestige products. It holds licenses for Paris Hilton fragrances,
watches, cosmetics, sunglasses, handbags and other small leather
accessories in addition to licenses to manufacture and distribute the
designer fragrance brands of Perry Ellis, GUESS?, XOXO, Ocean Pacific (OP),
Maria Sharapova, Andy Roddick, babyGund, and Fred Hayman Beverly Hills.
GLMAC's Managing Director, Lucien Lallouz, has provided valuable
assistance to Parlux in the past in securing the GUESS?, Paris Hilton and
Maria Sharapova licenses.
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
http://www.prnewswire.com/comp/674987.html /
CONTACT:
Ilia Lekach of Parlux Fragrances, Inc.,
+1-954-316-9008 Ext. 8116
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