FORT LAUDERDALE, Fla., Dec. 14, 2009 (GLOBE NEWSWIRE) -- Parlux Fragrances, Inc. (Nassdaq:PARL) announced today that in recognition for exceptional forward thinking in brand development, Parlux Fragrances, Inc. received the "Most Innovative Marketer of the Year" Award Women's Wear Daily Beauty Biz in the magazine's 7th Annual Beauty Awards issue . The award, presented for the prestige category, was announced on Thursday, December 10th in New York City at the WWD Beauty Biz Awards breakfast. WWD Beauty Biz honored Parlux Fragrances, Inc. for its bold strategy in partnering with Shawn "Jay-Z" Carter's Artistic Brands Development, LLC.
According to WWD, "With the stroke of a single deal, Parlux Fragrances rewrote the rules of licensing by giving celebrities what they had long clamored for -- a hefty piece of the rock. The company inked a deal with hip-hop titan Shawn "Jay-Z" Carter's Artistic Brands that includes licensing agreements with Rihanna, Jay-Z, Kanye West and a fourth unnamed celebrity. Parlux is giving the stars not only royalties, but also profit sharing and warrants to purchase its common shares."
Peter Born, Executive Editor, Beauty, WWD, in his remarks at the award breakfast indicated that Parlux's new fragrance introductions this year included Josie Natori into specialty stores, a first for Parlux, was also indicative of their innovative marketing.
Mr. Katz added, "It is a significant mark of distinction to be recognized by WWD for our leadership role as we develop fragrances in partnership with these highly regarded celebrities at the top of their profession. At this time, we are extremely excited to begin working on these projects. Undoubtedly, as WWD is identifying with the award to Parlux for innovative marketing, these brand introductions are going to make an indelible impression in the fragrance industry, just as each has done in the entertainment world. Their stars continue to rise rapidly in the entertainment arena, representing a terrific springboard for us in launching their fragrance brands. The agreement, which the WWD Beauty Biz Award celebrates, also enhances our attractiveness to other premier talents interested in associating with an established manufacturer and distributor of fragrance products."
About Parlux Fragrances, Inc.
Parlux Fragrances, Inc. is a manufacturer and international distributor of prestige products. It holds licenses for Paris Hilton, Jessica Simpson, GUESS?, Nicole Miller, Josie Natori, Queen Latifah, Marc Ecko, Rihanna, Kanye West, XOXO, Ocean Pacific (OP), Andy Roddick, babyGund, and Fred Hayman Beverly Hills designer fragrances, as well as Paris Hilton watches, cosmetics, sunglasses, handbags and other small leather accessories.
Certain Information Regarding Forward-Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our plans, strategies and prospects, both business and financial. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company or its industry to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, among others, future trends in sales and net income, the Company's ability to maintain its current brands and licenses, the Company's ability to successfully introduce, acquire, or launch new brands, licenses, or products in a cost-effective manner, general economic conditions, Perfumania's ability to pay its accounts due to the Company, continued compliance with the covenants in its credit facility, and the Company's ability to replace its existing credit facility to provide it with sufficient liquidity to fund its planned operations. Additional risk factors are set forth in the Company's periodic reports filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date thereof. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.