The licensing business was very successful in 2007. Sales experienced a disproportionate increase of 14% to EUR 49 million (2006: EUR 43 million). All three product groups, namely fragrances, watches, and eyewear, experienced very gratifying levels of growth.

Sales in the fragrances product group improved by 8%. The key here was the successful market introduction of new fragrances, particularly “HUGO XX” and “HUGO XY” in the third quarter of 2007.

The change in licensees for the eyewear and watches product groups in 2006 also produced clearly positive effects in 2007. The current eyewear collections were introduced to the markets by Safilo S.p.A. In the watches group, the Company worked closely with the Movado Group, Inc. to achieve a good position in the attractive segment of high-end fashion watches. The Company also collaborated with the Austrian Swarovski Group to prepare for its planned 2008 market entry into the jewelry business.