Parlux Inks fragrance deal with Jay-Z, Rihanna, and Kanye
by Pete Born From WWD Date:4/7/09
This has been called an unusual deal when it comes to celerity licensing. The three celebrities, along with another unnamed "well established" female artist, it might maybe Jay-Z's wife, Beyonce, are signing a deal with Parlux Fragrances Inc.
Instead of receiving cash from licensing royalties, the artists will receive royalties and profit sharing in the fragrance brands that they will launch. But the majority of the pay off will be through petitions to buy Parlux stock.
The deal has already been signed with Kanye and Rihanna. Jay-Z and the other female artist will sign their deals later on in the year. The CEO of Parlux Fragrances, Neil Katz, explains "We have for the first time calculated not how much they can sell but what they can make in profits and how the company can succeed."
Parlux plans on launching Kanye's and Rihanna's fragrances in the summer of 2010, and Jay-Z's and the unknown female singers fragrances the following year.
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