Item 2. Properties
Item
2. Properties
United
States Based Operations
We
maintain our corporate headquarters and United States based operations in approximately 32,000 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 October 2021 we leased office space in Florence, Italy for
a 6-year term with an option for an additional 6 years for Interparfums Italia Srl, and office space in Paris, France. We also
maintain a distribution center in Liscate, Italy. In 2023 we obtained small, leased space for our new sales subsidiaries in Dubai
and Switzerland, in addition to maintaining a leased sales office in Hong Kong.
European
Based Operations
Since
March 2022, our European based operations have maintained their corporate headquarters at 10 rue de Solférino in the 7th
arrondissement of Paris. This is an office complex combining three buildings connected by two inner courtyards and consists of
approximately 40,000 total sq. ft. United States distribution operations for European based operations maintain their headquarters
in New York City, with a lease that expires in May 2029. During 2022, we also purchased several small apartments at 96 rue de
l’Université, Paris adjacent to the main office complex and have converted them into additional offices. A small
office is located in Singapore for Asia-Pacific distribution by European based operations.
In
addition, European based operations maintain an approximately 37,000 square meters (approximately 398,265 square feet) distribution
center located in Criquebeuf sur Seine, France, with a term that expires May 2027 and an option to extend the term for an additional
two years. Interparfums SA also has several agreements for warehousing and distribution services which are renewed on an annual
basis, as well as one with a service provider that expires in 2024. Fees for such services 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.
46
PART
II
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