UNILEVER PUTS FRAGRANCE UNIT UP FOR SALE

Markets Calvin Klein, Lagerfeld; Sales off 40% Since 9/11

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CINCINNATI (AdAge.com) -- Unilever has retained investment bank Morgan Stanley to explore sale of its fragrance operation for up to $750 million, according to a report in the Financial Times.

Sales of the New York-based unit, which markets Calvin Klein, Cerrutti and Lagerfeld brands, were off 40% to under $600 million in 2001 in the aftermath of Sept. 11.

Advertising is handled in-house.

A Unilever spokeswoman said the company's policy is not to comment on rumor or speculation.

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