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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: moby_dick who wrote (7621)	1/30/1999 10:15:00 PM
From: moby_dick	Respond to of 122087

One more for good measure - this Ilia is a genius! He makes too many mistakes - the same will be true for PRFM IMHO. Moby. Link: businessweek.com TEXT: WHAT'S STILL SIZZLING--AND WHAT MELTED Two years ago, Parlux Fragrances Inc. (PARL) exuded the sweet smell of success. The perfume maker had turned in double-digit profit increases throughout the 1990s, fueled by its Perry Ellis line. Under the leadership of Ilia Lekach, a Russian immigrant who began his American business career selling watches, Parlux garnered $8 million in earnings on $68 million in sales for the year ended March, 1996. That was enough to land the company in the No.32 spot on BUSINESS WEEK's 1996 Hot Growth list. Since then, though, Parlux' performance has been stinko. After losing $6.7 million for the fiscal year ended Mar. 30, 1997, it expects to report red ink for the 1998 year, too. The stock is down 81%, to 2 1/4, as of Apr. 30. Lekach, whose family owns about 15% of Parlux, admits it ''suffered from a series of mistakes.'' One problem was Parlux' mid-1996 launch of Perry Ellis America, the latest in the Ellis line. The fragrance, named after the clothing designer who died in 1986, couldn't compete with a similar product that appeared at the same time--Tommy, from the very much alive and in-vogue designer Tommy Hilfiger (TOM). Lekach says Parlux' woes are history and predicts a comeback this year. WRONG WAY. Parlux' sorry situation is a cautionary tale that shows just how quickly a hotshot small company can fizzle.