Discussions with Interparfums SA

RNS Number : 7852H

Burberry Group PLC

17 July 2012

 



17 July 2012                                                                                                                  

Burberry Group plc

Discussions with Interparfums SA

Since December 2011, Burberry and Interparfums SA, the prestige fragrance company and exclusive worldwide licensee for Burberry fragrance and beauty products, have been engaged in discussions regarding the potential establishment of a new operating model for the Burberry fragrance and beauty business.  While these discussions continue, their outcome is uncertain. 

To maintain flexibility in pursuing its objective to develop fully this business in the future, Burberry has served notice of its intention to terminate the licence agreement with effect from 31 December 2012.  Upon termination at 31 December 2012, Burberry would pay InterParfums approximately €181 million in cash.  

Further information will be provided in due course.

Enquiries

Burberry		020 3367 3524
Stacey Cartwright	EVP, Chief Financial Officer
Jenna Littler	VP, PR and Corporate Relations
Fay Dodds	Director of Investor Relations

Brunswick		020 7404 5959
Nick Claydon
Laura Cummings

Certain statements made in this announcement are forward-looking statements. Such statements are based on current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from any expected future results in forward-looking statements.  Burberry Group plc undertakes no obligation to update these forward-looking statements and will not publicly release any revisions it may make to these forward-looking statements that may result from events or circumstances arising after the date of this document.  All persons, wherever located, should consult any additional disclosures that Burberry Group plc may make in any regulatory announcements or documents which it publishes.  All persons, wherever located, should take note of these disclosures.  This announcement does not constitute an invitation to underwrite, subscribe for or otherwise acquire or dispose of any Burberry Group plc shares, in the UK, or in the US, or under the US Securities Act 1933 or in any other jurisdiction.

 

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