a nose for it
June 5, 2009
Rihanna. Photo by Tranz
A celebrity flogging off a fragrance is nothing new - over the past five years we have seen a sharp incline in the number of endorsed scents hitting our shelves. But a celebrity endorsed fragrance that links profits to the celebrity?
Parlux Fragrances Inc has signed the above deal with Shawn ‘Jay Z’ Carter’s Iconic Fragrances. Iconic represents Rihanna, Kanye West, Jay Z and a yet-to-be-named female singer who will put their fame and faces to their own fragrance.
‘It was Jay Z’s belief, who put together the deal, that they can create business for Parlux that can create high share value from which they themselves can profit,’ said Parlux CEO Neil Katz on cosmeticsdesign.com.
The celebrities will be paid royalties and a profit share in Parlux when the share price goes over $5 (it is currently USD$1 per share).
Which solves the question of how much input celebrities actually have over product endorsements because if the bottom line affects them, then surely they’ll make sure the juice is good and not just any fruity rubbish. We expect to see outrageously styled bottles and luxurious smelling scents. We’re not sure when these are due but our guess is by the end of the year for the Christmas fragrance offerings.
Tamsin Marshall
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