Elizabeth Arden buys Bieber, Minaj licenses

Elizabeth Arden Inc has bought the global licenses to fragrances by entertainers Justin Bieber and Nicki Minaj, adding to a roster of celebrity brands that already includes Britney Spears and Mariah Carey.

Photo: Elizabeth Arden

The beauty company, which acquired the licenses from Give Back Brands for an undisclosed sum, said the new brands will start contributing to its profit in the first half of its fiscal 2013, which begins in July.

The company reaffirmed its forecast of net sales growth of 5 percent to 5.5 percent for the current fiscal year and net income per diluted share of $1.95 to $2.00.

Last week, the beauty company, whose main competitors include Coty Inc and Estée Lauder Cos Inc bought the licenses for the Ed Hardy, True Religion and BCBGMAXAZRIA fragrance brands from New Wave Fragrances.

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