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NEW YORK - Cosmetics and fragrance maker Elizabeth Arden Inc. and apparel and fragrance maker Liz Claiborne Inc. on Wednesday said they agreed to a long-term global licensing agreement to make and distribute Liz Claiborne fragrance brands.
Financial terms were undisclosed.
Liz Claiborne fragrance brands include Juicy Couture, Usher, Curve by Liz Claiborne, Lucky Brand and the Liz, Realities, Bora Bora and Mambo fragrances.
Elizabeth Arden says the deal will give it better market share in productivity in North America; create greater efficiency, particularly within supply chain, logistics and sales organizations; generate additional sales volume for its international business; and will boost margins.
Liz Claiborne said the deal allows it to develop its fragrances in a more "capital efficient" manner.
Liz Claiborne expects the deal to have no impact on 2008 projected adjusted earnings per share and could help earnings by 2009.
Elizabeth Arden, which develops fragrances under its own and celebrity names including Elizabeth Taylor and Mariah Carey, expects the deal to boost earnings in the first half of fiscal 2009.
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