In an announcement accompanying the agreement, signed 26 February 2018, the companies make clear the plans of both corporations to strengthen and innovate further within the industry.
The move indicates Guess is keen to have a stronger foothold in fragrance and beauty.
A meeting of fragrance minds
Inter Parfums was established over 30 years ago and is a fragrance brand with a rep for its high quality portfolio of prestigious brands such as Paul Smith, Montblanc, Jimmy Choo, Hollister and many more.
Guess was created in 1981, predominantly as a jeans manufacturer, before it expanded and became a lifestyle brand.
As of 28 October 2017, the company directly operated 982 retail stores in the Americas, Europe and Asia.
With this new agreement, the expectation of changes to come has been outlined to the industry, with new products being released as soon as 2020.
Jean Madar, Chairman & CEO of Inter Parfums, Inc. stated: “GUESS is a great addition to our portfolio of fragrance brands and we look forward to collaborating with the GUESS team, who has more than 20 years of expertise in the beauty industry."
Madar also expressed plans to “fine-tune as well as build upon the existing GUESS fragrance portfolio of men’s and women’s scents and plan to launch our first new products under the GUESS brand in early 2020.
“Under our license agreement, we will sell to multiple channels, including department, specialty and duty free stores across the globe as well as supply new and existing fragrances to GUESS retail stores in the Americas, Europe, Asia, Australia and Africa.”
Results of the agreement
This looks set to impact on the industry by ramping up market competition, with Inter Parfum keen to capitalise on the “Guess sense of adventure”, which both companies possess, according to Victor Herrera, Chief Executive Officer and Director of Guess.
Herrera said of the new agreement: “With their quality-first approach and strong global presence, Inter Parfums aligns with our philosophy to deliver a standard of excellence through an attractive product assortment to our worldwide customer base.”