Inter Parfums Inc. has added a new fragrance license to its stable of brands.
The company has acquired the global fragrance license for Roberto Cavalli, effective July 6. Terms of the deal were not disclosed.
“Fragrance and beauty are an important pillar for the Roberto Cavalli brand to reach more of our customers within the Roberto Cavalli universe, and we can’t think of a better partner,” said Sergio Azzolari, Cavalli’s chief executive officer, in a statement. “Inter Parfums has a significant track record in supporting brands in their upward trajectories, combining global excellence and capabilities with a strong understanding of the Italian luxury business.”
The license was previously held by Coty Inc. Industry sources estimate the business is around $40 million globally. Jean Madar, Inter Parfums’ chairman, cofounder and CEO, didn’t comment on the figure, but expressed his confidence in doubling the business “in a reasonable amount of time.”
The acquisition comes at a time of growth for Inter Parfums, which surpassed the $1 billion mark in annual sales last year. For the first quarter of 2023, net sales grew 24 percent to $311.7 million, per the company’s financial results, which offered annual guidance of $1.25 billion in sales for the year.
“I’ve seen the products, I’ve seen the business, which I found quite interesting — especially in the Middle East,” Madar said of the brand. “Cavalli is a very big name in the Middle East, in the Emirates, in Saudi Arabia.”
Roberto Cavalli is owned by Hussain Sajwani, founder and chairman of the Dubai-based Damac Properties; he owns Cavalli through his private investment company Vision Investments.
The business will be headquartered in Inter Parfums’ Florence offices, which the company opened following its acquisition of the Salvatore Ferragamo license in October 2021. “We have built a great team of executives in Italy, we’ve identified some extraordinary suppliers in Italy,” Madar said.
Madar sees the most opportunity in Europe, the Middle East and eventually, the U.S. Launch activity also has a robust calendar, starting with two line extensions next year, and a blockbuster planned for 2025. The license also encompasses the Just Cavalli products.
“We will not change any of the existing fragrances,” Madar said. “We will add one or two flankers, and we will create a blockbuster. We will identify the important points of the brand.”
Among those are Cavalli’s aesthetic codes, which Madar expects to play strongly to. “The image Cavalli has been able to build with animal prints, snakes, leopard, all these things — this has marked a lot of people. We have a powerhouse that can be global, the name has a huge recognition in Europe, the Middle East and America. It’s synonymous with luxury, sophistication. It’s flamboyant, it’s extravagant, and a lot of people want that.
“It’s a little over the top, but that’s what we like — we don’t have that in our portfolio,” Madar continued. “We don’t have abundance. Today we are in a world of minimalism, where Cavalli is about maximalism.”
Source: WWD