WWD reports here:
Paul Blum, just seven months into the job as David Yurman’s chief executive officer, is already bringing a new whiff into the air.
In an effort to propel the $500 million brand into the next stage of growth, the 26-year-old
jewelry firm has inked a deal for its first fragrance.
Terms of the fragrance deal, which was signed Tuesday, were not disclosed. Ancillary products are also part of the contract.
“For the best product extensions, it’s important to have two things,” said Blum. “It needs to be an understandable evolution of the brand, which the consumer has an emotional relationship with, and there has to be a close relationship to the brand.”
It is too early to project sales, although the fragrance for the first 12 months will only be sold through Yurman’s existing distribution channels. That amounts to only hundreds of doors, and industry sources estimated that as a result sales of the fragrance in the first year would be about
$2 million to $3 million at retail.
The licensee also produces Thierry Mugler Parfums and Azzaro fragrances.