Sanofi To Sell Off Perfume Ranges
French pharmaceutical and beauty concern Sanofi has confirmed that its is looking for buyers for some of its perfume ranges. The company said last month when it announced its acquisition of the Sanofi Winthrop prescription drug business (Marketletter June 27) that it would divest non-core businesses to cover the cost of the acquisition.
The perfumes that are up for disposal are the Italian brands Krizia and Fendi, as well as its Stendhal range. Also, the company decided to put its US brands Perry Ellis and Geoffrey Beene up for sale towards the end of May.
Sanofi said recently that it would keep its core perfume lines, which include Yves Saint Laurent, Van Cleef and Arpels and Yves Rocher. However, the company also owns Oscar de la Renta and a decision has not yet been made about its future. Sanofi also has Roger et Gallet, which it has said it would like to market in a new distribution setup.
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