UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported):
July 16, 2012
Inter Parfums, Inc.
(Exact name of registrant as specified in its charter)
Delaware | 0-16469 | 13-3275609 | ||
(State or other jurisdiction of | Commission | (I.R.S. Employer | ||
incorporation or organization) | File Number | Identification No.) |
551 Fifth Avenue, New York, New York 10176
(Address of Principal Executive Offices)
212. 983.2640
(Registrant's Telephone number, including area code)
(Former name or former address, if changed since last report) |
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions (see General Instruction A.2 below):
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting Material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events.
Our press release dated July 17, 2012 relating to Burberry, a copy of which is annexed hereto as Exhibit no. 99.1, is incorporated by reference herein and filed pursuant to this Item 8.01.
Item 9.01 Financial Statements and Exhibits.
99.1 Our press release dated July 17, 2012.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused and authorized this report to be signed on its behalf by the undersigned.
Dated: July 17, 2012 | ||
Inter Parfums, Inc. | ||
By: | /s/ Russell Greenberg | |
Russell Greenberg, Executive Vice President |
2 |
FOR IMMEDIATE RELEASE
DISCUSSIONS BETWEEN INTERPARFUMSSA AND BURBERRY CONTINUE FOLLOWING BURBERRY’S EXERCISE OF OPTION TO BUY OUT LICENSE ON DECEMBER 31, 2012
New York, New York, July 17, 2012: Inter Parfums, Inc. (NASDAQ GS: IPAR) today announced that since December 2011, Burberry, the global luxury group and our subsidiary, InterparfumsSA, the prestige fragrance company and exclusive worldwide licensee for Burberry fragrance and beauty products, have been engaged in discussions on the creation of a new operating model for the business. Although an agreement has been reached on certain main terms and conditions, important points remain to be finalized.
To preserve its rights under the agreement, Burberry exercised its option to buy out the license rights effective December 31, 2012. Under the terms of the agreement, the buy out price amounts to €181 million (exclusive of receivables, inventories and other tangible assets).
However, the two parties are continuing their discussions on these important points in an effort to reach a new comprehensive agreement. If no new comprehensive agreement is reached, then the current license will end on December 31, 2012.
Jean Madar, Chairman & Chief Executive Officer of Inter Parfums, Inc. commented, “Discussions longer and more complex than expected have naturally led Burberry to exercise its option to buy out the license agreement before the July 31 deadline to ensure its ability to benefit from all possible alternatives. On our side, we have largely anticipated the consequences of this partnership being extended or not. For that reason, we are today particularly confident and motivated about the prospects of opening a new page in our history, regardless of the outcome of these discussions.”
Statements in this release which are not historical in nature are forward-looking statements. Although we believe that our plans, intentions and expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such plans, intentions or expectations will be achieved. In some cases you can identify forward-looking statements by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "will," and "would," or similar words. You should not rely on forward-looking statements because actual events or results may differ materially from those indicated by these forward-looking statements as a result of a number of important factors. These factors include, but are not limited to, the risks and uncertainties discussed under the headings “Forward Looking Statements” and "Risk Factors" in Inter Parfums' annual report on Form 10-K for the fiscal year ended December 31, 2011 and the reports Inter Parfums files from time to time with the Securities and Exchange Commission. Inter Parfums does not intend to and undertakes no duty to update the information contained in this press release.
Contact at Inter Parfums, Inc. | -or- | Investor Relations Counsel |
Russell Greenberg, Exec. VP & CFO | The Equity Group Inc. | |
(212) 983-2640 | Linda Latman (212) 836-9609/llatman@equityny.com | |
rgreenberg@interparfumsinc.com | Lena Cati (212) 836-9611/lcati@equityny.com | |
www.interparfumsinc.com | www.theequitygroup.com |