Parlux Fragrances is partnering with hip-hop mogul Shawn Carter, aka Jay-Z, to distribute Rihanna and Kanye West fragrances currently under his Iconic Fragrances umbrella. Deals are also being
finalized for a Jay-Z fragrance and another featuring an unidentified female artist, Elaine Walker reports. Is it Carter's wife, Beyonce Knowles? Parlux chairman and CEO Neil Katz won't say.
Rihanna and Kanye West's fragrances will be available in department stores by next summer. Katz estimates that within two years the four brands could generate $150 million and "could be even bigger"
with a little luck.
Iconic and the celebrities could own as much as 12 million shares of Parlux under the deal. ''These celebrities have tied themselves not just to the sales that might be
done, but to the actual profitability of our business,'' Katz says.
advertisement
advertisement
Read the whole story at Miami Herald »