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BROCARD PARFUMS WINS THE LAWSUIT AGAINST NOVAYA ZARYA

Last 20 October, the clerk of the Paris First Instance Court has informed Brocard Parfums that the claim for revocation raised by Mrs. Vitkovskaia, president of Novaya Zarya, against its international and French trademarks “Brocard Parfums” was rejected.
Consequently Mrs. Vitkovskaia was dismissed of all her claims and Brocard Parfums is allowed to continue using its “Brocard Parfums” trademarks.
On the contrary, Mrs. Vitkovskaia is not allowed to hold its French trademark “Ste Brocard & Cie Novaya Zarya” which is cancelled, in accordance with Brocard Parfums’ counterclaim. The signed copy of the Paris Court’s judgment is expected to be issued by the end of October.

International Financial Reporting Standards

The Brocard Group has successfully implemented a corporate accounting system with the assistance of the certified public accountants BDO Deutsche Warentreuhand AG and Ernst & Young AG, and since the business year 2006 it has drawn up its balance sheets in accordance with the International Financial Reporting Standards (IFRS).

In the framework of a currently ongoing project we are studying measures to further optimize the Group’s business processes and structures.