Buyout of License

12 Months Ended

Dec. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

(2)

Buyout of License

In December 2016, the Company, through its majority owned Paris-based subsidiary, Interparfums SA, reached an agreement with the Balmain brand calling for Balmain to buyout the Balmain license agreement, effective December 31, 2016, in exchange for a payment aggregating €5.4 million (approximately $5.7 million). As a result of the buyout, the Company recognized a gain of $4.7 million and expects to receive the buyout payment by April 30, 2017. The Company has a three month inventory sell-off period ending March 31, 2017 and Balmain has also agreed to purchase all remaining inventory and tangible assets.