JAY-Z - The Rihanna Perfume
Jay-Z’s Iconic Fragrances and Parlux have signed contracts, which might result in beauty products that carry Rihanna’s and Kanye West’s names.
Parlux Fragrances, Inc. announced today that it has signed an agreement with Iconic Fragrances, a licensing company in which entertainment mogul and icon Shawn “JAY-Z” Carter is a principal. The agreement includes individual worldwide fragrance licenses for multiple Grammy award winning and multi-platinum selling international entertainers Rihanna and Kanye West. Iconic also is in the final stage of negotiations for a worldwide fragrance license with Shawn “JAY-Z” Carter, and in discussions with a well-established female artist.
The agreement provides for the payment of royalties, profit sharing, and the issuance of warrants to purchase common shares of Parlux at a strike price of $5.00 per share. The warrants will be issued to Iconic and the celebrities and their respective affiliates. Details of the transaction are to be provided in Parlux’s Form 8-K filing.
Neil Katz, Chairman and Chief Executive Officer of Parlux, said, “We are extremely excited to begin work on our projects with Rihanna and Kanye West. Each is an extremely highly regarded celebrity at the top of his or her profession who is undoubtedly going to make an indelible impression in the fragrance industry, just as each has done in the entertainment world…”
Shawn “Jay-Z” Carter commented, “We are excited for the opportunity to partner with Parlux and their management team in the launch of these dynamic new brands. This venture will take what is already a successful franchise at Parlux to a new level.”
Parlux Fragrances, Inc. is a manufacturer and international distributor of prestige products. It holds licenses for Paris Hilton, Jessica Simpson, GUESS?, Nicole Miller, Natori, Queen Latifah, Marc Ecko, XOXO, Ocean Pacific (OP), Andy Roddick, babyGund, and Fred Hayman Beverly Hills designer fragrances, as well as Paris Hilton watches, cosmetics, sunglasses, handbags and other small leather accessories.
