Item 2. Properties
Item
2. Properties
United
States Operations
We
maintain our corporate headquarters and United States operations in approximately 24,900 square feet with a term that expires
on December 31, 2029, and have been at the same location in New York City since 1992. We also have a 140,000 square foot distribution
center in New Jersey, and this lease expires on October 31, 2025. In addition, we maintain office space in Hong Kong with a lease
that expires in June 2023. In August 2019 we opened a small distribution center in Shanghai, China that expires in July 2022.
European
Operations
Our
European operations maintain their corporate headquarters on the Champs Elysees in Paris France, with leases for various units
that expire from March 2022 to September 2026. United States distribution operations for European operations maintain their headquarters
in New York City, with a lease that expires in May 2029. A small office is located Singapore for Asia-Pacific distribution by
European operations.
In
January 2021, Interparfums SA signed a purchase contract, subject to certain conditions, to acquire an office building complex
for its exclusive use as its future headquarters, located in the heart of Paris. This transaction is expected to be completed
in the spring of this year with the move planned for the end of 2021 or the beginning of 2022. Our European operations also maintains
a studio and operations departments at a second location in Paris with a lease that expires in May 2024. We are presently negotiating
a potential early termination in view of the agreement for the new Paris headquarters.
European
operations maintain an approximately 333,700 square foot distribution center located in Criquebeuf sur Seine, France, with a seven
year term that expires May 2027 and an option to extend the term for an additional two years.
Interparfums SA has several agreements
for warehousing and distribution services which are renewed on an annual basis. Fees payable are partially calculated based upon
a percentage of sales, which is customary in the industry.
We believe our office and warehouse facilities
are satisfactory for our present needs and those for the foreseeable future.
Item
3. Legal Proceedings
We
are not a party to any material lawsuits.
Item
4. Mine Safety Disclosures
Not
applicable.
24
PART II
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