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Diane von Furstenberg Studio LLC said Thursday that it has reached an agreement with idBeauty International Distribution Ltd. to terminate their existing beauty licensing agreement.
IdBeauty was von Furstenberg’s former fragrance distributor; the two entities had originally inked their deal in July 2010.
Joel Horowitz, cochairman of the board of DVF Studio LLC, noted that the termination allows DVF to “openly pursue new opportunities in the beauty category, consistent with [DVF’s] long-term growth strategy.”
“As we continue to look for growth and expansion opportunities that complement our existing product portfolio, we are now free to openly pursue new opportunities in the beauty and fragrance category,” Horowitz noted.