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17 July 2012 10:28

Burberry has said that it will be ending its licence agreement with prestige fragrance company and exclusive worldwide licensee Interparfums SA, costing the luxury lifestyle brand £141 million.

Talks between the two businesses regarding a new operating model for the Burberry fragrance and beauty business have been going on since December last year and although these discussions continue, Burberry said that their outcome is "uncertain". The licence is now due to terminate at the end of the year.