FORT LAUDERDALE, Fla., Oct. 11 /PRNewswire-FirstCall/ -- Parlux
Fragrances, Inc. (Nasdaq: PARL) announced today that on October 9, 2006, it
was informed by Perry Ellis International ("PEI") of PEI's decision not to
consent to the sale of the Perry Ellis fragrance rights to Victory
International (USA) LLC ("Victory"). On August 16, 2006, the Company had
entered into a letter of intent, subject to certain approvals, to sell its
Perry Ellis fragrance rights to Victory for a total of up to $140 million:
$120 million over a five-year period for the fragrance rights and up to $20
million for inventory.
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.
Parlux 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 Parlux 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 Parlux'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. Parlux 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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