Inter Parfums, Inc. ( IPAR Quick Quote IPAR - Free Report) is on track to expand its business through new licenses or acquisitions. Per latest developments, the company, through its recently created subsidiary Interparfums Italia signed a 10-year exclusive global licensing agreement with Emanuel Ungaro. The partnership is aimed at creating, developing and distributing fragrances and fragrance-related products under the Emanuel Ungaro brand. The agreement also covers home fragrance, cosmetics, skincare and travel amenities. The deal, which includes a five-year renewal option, is effective beginning Jan 1, 2022. A popular global brand Ungaro is a perfect combination of Italian creativity and craftsmanship with French luxury and execution. Ungaro is committed to producing and distributingits legacy scents like Diva. The company plans to unveil a new fragrance built around disruptive design in 2023. Hence, the well-known global brand coupled with Inter Parfums’ expertise and dedication is likely to bolster growth across its business. Image Source: Zacks Investment Research Prudent Efforts to Boost Portfolio
Speaking of acquisitions and initiativesto boost business,Inter Parfums recently finalized the agreement with Salvatore Ferragamo S.p.A. Per the agreement, Inter Parfums now holds the exclusive worldwide license for the production and distribution of Salvatore Ferragamo brand perfumes. Through the addition of the Ferragamo brand, Inter Parfums will be able to further develop its business in the world of fashion and luxury. The popular luxury brand coupled with Inter Parfums’ creativity, competence and commercial expertise is likely to bolster growth across the fragrance market.
In September, Inter Parfums entered into a long-term global licensing agreement with G-III Apparel Group, Ltd. ( GIII Quick Quote GIII - Free Report) — to create, develop and distribute fragrances and related items under brands like DKNY and Donna Karan. The license is likely to come into effect on Jul 1, 2022, for Inter Parfums. G-III Apparel designs, sources and markets women's and men's apparel globally. The company has been experiencing strength in the outerwear business for a while. GIII is steadily investing in data analytics capabilities to better know the consumers across channels and boost their shopping experiences. Coming back to Inter Parfums, it is benefiting from the strategic partnerships with Origines-parfums and Moncler SpA. In July 2020, Inter Parfums’ majorly-owned subsidiary Interparfums SA acquired 25% of Divabox’s capital, which is the owner of Origines-parfums, a renowned French company in the online beauty market. The deal enhances Inter Parfums’ fragrance line and product range as well as boosts digital development, courtesy of Origines-parfums’ solid customer expertise. Prior to this, Interparfums SA signed an agreement with luxury brand Moncler SpA in June 2020. The deal gave Inter Parfums rights to fragrance-related items in Monclermono brand stores along with a few other specialty shops, department stores and duty-free shops. The Zacks Rank #1 (Strong Buy) stock has rallied 37.1% in the past three months against the industry’s decline of 14%. You can see . the complete list of today’s Zacks #1 Rank stocks here 2 Staple Picks
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Consumer Staples sector are MGP Ingredients ( MGPI Quick Quote MGPI - Free Report) and The Hain Celestial Group ( HAIN Quick Quote HAIN - Free Report) . MGP Ingredients, the producer and supplier of distilled spirits and specialty wheat proteins and starch food ingredients, currently sports a Zacks Rank #1 (Strong Buy). Shares of the company have gained 37.8% in the past three months. The Zacks Consensus Estimate for MGP Ingredients’ current financial-year sales and earnings per share (EPS) suggests growth of 55.5% and 61.4%, respectively, from the year-ago period’s figures. MGPI has a trailing four-quarter earnings surprise of 117.6%, on average. The Hain Celestial, which provides various natural and organic foods as well as personal care products in North America and Europe, carries a Zacks Rank #2 (Buy) at present. HAIN has a trailing four-quarter earnings surprise of 9.7%, on average. Shares of the company have moved up 6.9% in the past three months. The Zacks Consensus Estimate for The Hain Celestial’s current financial-year EPS suggests growth of 14.5% from the year-ago period’s reported number.