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Elizabeth Arden Purchases Justin Bieber, Nicki Minaj Fragrances

Elizabeth Arden Inc. has purchased the fragrance licenses of Justin Bieber and Nicki Minaj. The company bought the rights of the perfumes by both pop stars from Give Back Brands LLC, as they want to build on their celebrity portfolio.

In a memo to employees, E. Scott Beattie - chairman and chief executive officer of Elizabeth Arden - said, "We are pleased to announce that today we signed an agreement to acquire the licenses for the Justin Bieber and Nicki Minaj fragrance brands from Give Back Brands. The marketing and creative activities for these fragrance brands will continue to be managed externally by their existing team. Sales, finance and operational activities will be absorbed by the respective Elizabeth Arden functions. These brands represent another opportunity to grow our extensive fragrance portfolio through both new licenses and fragrance acquisitions.

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Nicki Minaj to Release Her Own Perfume

Nicki Minaj will release her debut fragrance later this year.

The "Turn Me On" singer has signed a fragrance licensing deal with Give Back Brands LLC to produce and launch her first scent, due in department stores this fall.

"I have always been a huge fan of great fragrances. This is yet another extension of my creative expression. I designed the scent and bottle with my Barnz in mind," she said in a statement.

Nicki has made no secret of her desire to have her own scent, saying recently, "Hopefully I'll do one this year. I like scents that feel summery, but have a va-va-voom. I want to smell like a sexy and confident woman, not like candy."

Nicki - who is famed for her eccentric dress sense - is following in the footsteps of lots of celebrities who have released their own perfumes, including Paris Hilton, Kim Kardashian, Rihanna, Jennifer Lopez and Victoria Beckham.