Elizabeth Arden (RDEN) and John Varvatos Announce Global Licensing Agreement
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Elizabeth Arden, Inc. (NASDAQ: RDEN) and John Varvatos Apparel Corp. announced today that they have entered into an exclusive global licensing agreement for the development, marketing and distribution of John Varvatos men's and women's fragrances.
The John Varvatos fragrance collection currently includes the original John Varvatos classic fragrance, which was launched in 2004, the John Varvatos Vintage fragrance and the recently launched John Varvatos Artisan fragrance. The fragrances are currently sold primarily in U.S. prestige department stores and to select markets internationally.
"John has established a premier men's designer fragrance business in the U.S. and is one of the most dynamic men's fashion designers. We are excited to take the fragrance business to another level and expand the franchise," said Ron Rolleston, Executive Vice President of Global Fragrance Marketing. Mr. Rolleston added, "This license provides us the opportunity to grow our market share of the men's fragrance market with an already existing and successful men's designer fragrance brand and leverage the growing awareness of the John Varvatos fashion line."
Commenting on the new license arrangement, John Varvatos stated, "We are excited to partner with Elizabeth Arden. The combination of their expertise in fragrance and our ability to affect popular culture will create some incredible products and breathe excitement into the category. We enjoyed our relationship with Shiseido and are grateful for their efforts in building a successful John Varvatos fragrance franchise."
The previous licensee for John Varvatos fragrances and skincare was Shiseido Americas Corporation ("Shiseido"). Shiseido will continue to sell the John Varvatos fragrances until June 30, 2010.
The John Varvatos fragrance collection currently includes the original John Varvatos classic fragrance, which was launched in 2004, the John Varvatos Vintage fragrance and the recently launched John Varvatos Artisan fragrance. The fragrances are currently sold primarily in U.S. prestige department stores and to select markets internationally.
"John has established a premier men's designer fragrance business in the U.S. and is one of the most dynamic men's fashion designers. We are excited to take the fragrance business to another level and expand the franchise," said Ron Rolleston, Executive Vice President of Global Fragrance Marketing. Mr. Rolleston added, "This license provides us the opportunity to grow our market share of the men's fragrance market with an already existing and successful men's designer fragrance brand and leverage the growing awareness of the John Varvatos fashion line."
Commenting on the new license arrangement, John Varvatos stated, "We are excited to partner with Elizabeth Arden. The combination of their expertise in fragrance and our ability to affect popular culture will create some incredible products and breathe excitement into the category. We enjoyed our relationship with Shiseido and are grateful for their efforts in building a successful John Varvatos fragrance franchise."
The previous licensee for John Varvatos fragrances and skincare was Shiseido Americas Corporation ("Shiseido"). Shiseido will continue to sell the John Varvatos fragrances until June 30, 2010.
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