Inter Parfums, Inc. announced that its 72% owned subsidiary, Inter Parfums SA, acquired the worldwide rights to the Lanvin brand names and international trademarks listed under Class 3 from Jeanne Lanvin, S.A. The purchase price, 22 million Euro (approximately U.S. $29.7 million) was paid in cash at closing and as a result, Inter Parfums and Lanvin have terminated their existing licensing contract signed in June 2004.
Under the terms of the agreement, Inter Parfums will also pay to Lanvin a sales-based fee for technical and creative assistance in new product development to be rendered by Lanvin in connection with the use of the Lanvin trademark through June 30, 2019. Additionally, Lanvin has the right to repurchase the brands and trademarks in 2025.
Class 3 of the international classification of trademarks goods and services include: soaps, perfumery, essential oils, cosmetics and hair lotions.