Inter Parfums confirmed that it has paid $29.7m for the marketing rights to the brand, which will also include the addition of a sales-based fee for technical and creative assistance for new product development.
The agreement extends to June 2019, and also includes the rights for Lanvin to repurchase the brands and trademarks from Inter Parfums in 2025.
Inter Parfums CEO Jean Madar, said that the company was particularly attractive because of its current position on the market as the world's second largest premium fragrance brand, adding that he intends to further grow the brand and strengthen ties with the company.
Paris-based Lanvin currently markets an up-market fragrance and personal care products including the Rumeur line - an extensive collection of fragrances and skin care products, as well as the premium fragrance Clair du Jour and the Oxygen fragrance brand.
But perhaps its best known fragrance line is Arperge, which was first launched in 1927 and was re-launched in 1993.
As well as the Arperge perfume collections, the range now includes body lotion and a deodorant spray, as well as a shave balm, shampoo and eau de toilette for men.
Inter Parfums is divided into European and North American divisions, with the European branch concentrating on the manufacturing and marketing of prestige fragrances, and the North American division focused more on a range of mass produced fragrances and personal care products.
The company recently announced significant sales growth in both its European and North American operations for its second quarter, which it said was boosted by distribution agreements in Europe, new launches and the continued strength of key brands worldwide.
Net sales for the quarter were up 18 per cent, from $70.3m to $82.8m, a result that was boosted by favorable currency exchange rates.
With the added bonus of a strong first quarter, the company has now raised its outlook for the rest of the year, in turn pushing net profits up by 31 per cent, to reach $5.8m compared to $4.4m during the first quarter of 2006.
In Europe the results were driven by strong sales of Burberry fragrance sales, while in the US growth has mainly been due to the continued roll out of new bath and body products in 160 Gap Body and Banana Republic stores across the US.