Yves Buys Charles of the Ritz
From Reuters
French designer Yves Saint Laurent bought the U.S. cosmetics firm Charles Of The Ritz Group Ltd. today for $600 million in a deal which reunites the Paris-based fashion mogul’s fragrance and finery lines.
Princeton, New Jersey-based Charles Of The Ritz, a subsidiary of Squibb Corp., owns the licensing rights for perfumes carrying the Yves Saint Laurent name, including its latest money-spinning scent, Opium.
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