Puig announced on Thursday that the sum will be paid in full before the end of 2018. Furthermore, Saphir and its affiliates must cease and desist from using brand names either owned or licensed by Puig, both now and in the future, as well as any logos, icons or other elements which have any kind of link with the group’s brands. The agreement brings an end to a series of legal conflicts, which culminated with the Spanish Supreme Court’s decision on 16 November 2016 to reject Saphir’s appeal against Alicante Provincial Court’s ruling of 14 September 2015.

As noted by the 2015 ruling, the use of reputed trademarks by Saphir, Caravan and IAP was carried out through the supply of a number of different products which established supposed equivalences with original fragrances made by Puig to resellers, who then passed on the products to third-parties. The sentence also applies to resellers. With this move, Puig has made a clear statement that it continues to be rigorous in the defence of its trademarks and the protection of its intangible assets. Puig, which sells its products in more than 150 countries, reported 1.94 billion euros in revenues in 2017 and currently manages a portfolio of brands including Carolina Herrera, Nina Ricci and Paco Rabanne, among others.