Smelling Very Sweet IndeedBy
Inter Parfums (IPAR), a New York maker and distributor of brand-name fragrances, including Burberry, Christian Lacroix, and S.T. Dupont in 100 countries, has yet to make a splash in the U.S. But it has drawn quite a bit of attention in Europe: The acquisitive LVMH Moet Hennessy Louis Vuitton has bought a 21% stake in Inter Parfums. LVMH has an option to buy up to 26%. To go beyond that limit, it must obtain Inter Parfums' approval. LVMH may well do that--since it usually winds up buying the companies in which it has taken a stake.
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