The company had announced at the end of last month that it would sell its Perry Ellis fragrance business, a fact that was confirmed by GLMAC in a letter of intent.
Parlux says it is in discussions to sell the brand to New Jersey company Victory for an estimated $140m. The company said that this move would enable it to concentrate on its celebrity-branded perfumes.
Having generated $77m in revenues last year, Perry Ellis is the company's biggest selling brand, accounting for 42.5 per cent of total sales in 2005.
Following this sale, the the emphasis is now expected to shift to some of the smaller brands, although the company's flagship Paris Hilton brand is not believed to be up for sale as it is considered to still have plenty of potential for future growth.
Last year it was growth in the sale of Paris Hilton fragrances and branded designer goods that helped the company's sales turnover to more than double from $47.44m in 2004, to reach $111.77m in 2005.
"We continue to pursue new fragrance licenses and to concentrate our efforts on our fast-growing fragrance properties," said Parlux CEO Ilia Lekach.
He went on to explain the reasons behind wanting to sell a number of the brands.
" We currently have a number of product lines that have been successful but do not have the upside as other potential opportunities available to us. We expect the sale of the non-core licenses will be cash-flow positive and provide funding for potential new fragrance ventures."
Parlux, is the license holder to big fragrance names such as XOXO, Ocean Pacific and tennis star Andy Roddick, and really hit the big-time by licensing deal to produce fragrances and asscessories using the name and image of media figure and heiress Paris Hilton.