EDOB Abwicklungs AG
ESCADA AG english
ESCADA AG
Ad-hoc-announcement processed and transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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ESCADA concludes long-term licensing agreement with Wella and sells ESCADA
BEAUTE GROUP S.A.
Aschheim/Munich, March 4, 2002 – ESCADA AG today announced that it has
concluded a long-term licensing agreement with Wella AG, Darmstadt for the
marketing of fragrances and cosmetics. Furthermore, Wella will acquire all
shares in the ESCADA Beaute Group S.A., Paris, through its interest in the
Paris-based Rochas S.A. effective April 1, 2002. The Rochas company is a
subsidiary of Cosmopolitan Cosmetics GmbH, in which Wella has bundled its
business activities in the field of fragrances and cosmetics since 1997. Both
parties have agreed not to disclose terms and conditions of the purchase and
licensing agreements. ESCADA has reflected this transaction, which has a
neutral effect on the Group’s earnings after taxes, in the consolidated
financial statements 2000/2001.
The rights to the ESCADA brand will remain with ESCADA AG, which will grant
Wella a long-term production, distribution and marketing license for fragrances
and cosmetics. As announced last year, the ESCADA Group systematically
continues to focus on its core business while fully tapping into the large
potential of the ESCADA brand by expanding its licensing business. Wella will
develop a new cosmetics line for ESCADA, which will further strengthen the
brand’s presence in the market for luxury goods.
Cosmopolitan Cosmetics is among the six leading suppliers of branded fragrances
worldwide. In fiscal year 2001, the Cologne-based company and its more than 30
subsidiaries recorded over EUR 640 million in sales. During the past fiscal
year 2000/2001 (ended October 31), the ESCADA Beaute Group achieved sales of
EUR 51 million with ESCADA brand fragrances.
The supervisory boards of both companies have already approved this
transaction. Approval from the cartel authorities is pending.
ESCADA AG
The executive board
For further information, please contact:
Viona Brandt
Investor Relations
++49 89 99 44 1336
viona.brandt@de.escada.com
end of ad-hoc-announcement (c)DGAP 04.03.2002
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WKN: 569210; ISIN: DE0005692107; Index: MDAX
Listed: Amtlicher Handel in Berlin, Frankfurt und München; Geregelter Markt in
Bremen; Freiverkehr in Düsseldorf, Hamburg und Stuttgart
041603 Mär 02
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