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TANG'S NEW HOME: Inter Parfums Inc. said Monday it has entered into a 12-year, exclusive global license to create, produce and distribute fragrances and beauty products bearing the Shanghai Tang name.
The first products under the deal are expected to be launched in the spring. Concurrent with the agreement is a new Inter Parfums subsidiary, Inter Parfums USA Hong Kong Ltd., which will manage the beauty products of the Chinese luxury products company. “China is a strategic priority for Inter Parfums, and as this is an important new relationship for us, we have established a new subsidiary in Hong Kong to manage the global operations of the Shanghai Tang brand,” said Jean Madar, chairman and chief executive officer of Inter Parfums Inc.
Added Raphael Le Masne, executive chairman of Shanghai Tang: “As we see the rise of a new Chinese pride in China, complemented by a growing intrigue and appetite for Chinese culture globally, we are happy to be partnering with Inter Parfums to grow and develop our global fragrance business.”