EXHIBIT  10.78


                              CONSULTING AGREEMENT
                              --------------------


This Consulting Agreement (hereinafter "Agreement") dated as of June 1, 2005,
between PARLUX FRAGRANCES, INC., a corporation organized and existing under the
laws of the State of Delaware (hereinafter "Corporation") and CAMBRIDGE
DEVELOPMENT CORPORATION, 14 Vanderventer Avenue, Port Washington, New York 11050
(hereinafter "Consultant"), and Albert F. Vercillo (hereinafter "Vercillo"), the
President of Consultant residing at 74 Summit Road, Port Washington, New York
11050. Collectively hereinafter referred to as "Parties".

WHEREAS, Corporation, Consultant and Vercillo are parties to a Consulting
Agreement dated November 1, 1999 extending through May 31, 2006 and as amended
by Amendment No 1 dated April 1, 2005, which is hereby terminated without
liability to either party.

WHEREAS, the parties wish to enter into a new Consulting Agreement under revised
terms and conditions set forth herein;

NOW, THEREFORE, in consideration of the mutual understanding set forth herein,
the Parties agree as follows:

1.     Consultant's Duties: The Corporation hereby engages the Consultant as its
       business and financial consultant. Subject at all times to the control
       and direction of the Corporation's Chief Executive Officer, Chief
       Operating Officer and Chief Financial Officer (hereinafter Management),
       the Consultant shall have the duties as the general advisor and
       consultant to Management on all matters pertaining to the business and to
       render all other services relevant thereto. The Consultant, by Vercillo,
       shall perform all other duties that may be reasonably assigned to it by
       Management provided said duties be consistent with the prestige and
       responsibility of Vercillo's position. The Consultant shall, through its
       agents, servants and employees, devote its best efforts at all times
       necessary to perform its duties and to advance the Corporation's best
       interests, subject to reasonable vacations. The Consultant and the
       Corporation acknowledge that the Consultant and its agents, servants and
       employees have other business interests and shall not be required to
       devote its exclusive time and attention to the performance of its duties
       hereunder.

2.     Term: Unless sooner terminated as provided in Section 7 below, this
       Agreement shall be for a term of three (3) years and ten (10) months
       commencing as of June 1, 2005 and ending on March 31, 2009; provided
       however, that the term of this Agreement shall be automatically extended
       on the same terms and conditions for a one year period and from year to
       year thereafter unless either the Corporation or the Consultant shall
       give written notice of the termination of this Agreement to the other at
       least six (6) months prior to the expiration of said term or extended
       term.


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CONSULTING AGREEMENT
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3.     Compensation: For services rendered by the Consultant under this
       Agreement, the Corporation shall pay to Consultant as follows:

       (i)    For the period commencing June 1, 2005 through March 31, 2007, at
              the annual rate of $150,000, payable in equal bi-weekly
              installments of $5,769.23.

       (ii)   For the period extending from April 1, 2007 through March 31,
              2008, at the annual rate of $125,000, payable in equal bi-weekly
              installments of $4,807.69 and,

       (iii)  For the period extending from April 1, 2008 through March 31, 2009
              at the annual rate of $100,000, payable in equal bi-weekly
              installments of $3,846.15.

4.     Health and Life Insurance: The Corporation shall, at no cost to the
       Consultant or Vercillo, provide Vercillo with full health insurance,
       basic, major medical and dental as well as group life insurance. Said
       coverage shall be identical to that afforded the Corporation's
       Management.

5.     Expenses: Consultant will be reimbursed by the Corporation for all
       reasonable business expenses incurred by the Consultant in the
       performance of its duties. Said reimbursement shall be made no less
       frequently than monthly upon submission by the Consultant of a written
       request for same.

6.     Stock Options (Warrants): There are no stock options (warrants) being
       granted with this agreement. The rights of Vercillo with respect to any
       stock option (warrant) previously granted to Vercillo shall be determined
       exclusively by the plans and agreements relating to the options
       (warrants) and this Agreement shall not affect, in any way, the rights
       and obligations of the plans and agreements.

7.     Early Termination: The Corporation may terminate the Consultant's
       relationship under this Agreement prior to the expiration of the term set
       forth in Section 2 above only under the following circumstances:

       (i)    Death. Upon the death of Vercillo.

       (ii)   Disability. If, as a result of Vercillo's incapacity due to
              physical or mental illness, Vercillo having been unable to perform
              his duties under this Agreement for a period of six consecutive
              calendar months, then thirty (30) days after written notice of
              termination is given to Consultant (which may only be given after
              the end of the six consecutive calendar month period) provided
              that Vercillo has not returned to his duties under this Agreement.

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CONSULTING AGREEMENT
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       (iii)  For Cause. The Corporation shall have "Cause" to terminate this
              Agreement upon

              (a)    the willful and continued failure by Consultant to
                     substantially perform its duties under this Agreement
                     (other than any failure resulting from Vercillo's
                     incapacity due to physical or mental illness) for thirty
                     (30) days after written demand for substantial performance
                     is delivered by the Corporation specifically identifying
                     the manner in which the Corporation believes Consultant has
                     not substantially performed its duties, or (b) the willful
                     engaging by Consultant or Vercillo in misconduct (including
                     embezzlement and criminal fraud) which is materially
                     injurious to the Corporation, or (c) the conviction of
                     Vercillo of a felony. For purposes of this paragraph, no
                     act, or failure to act, by the Consultant shall be
                     considered "willful" unless done or omitted to be done, by
                     Consultant not in good faith and without reasonable belief
                     that its action or omission was in the interest of the
                     Corporation. Consultant shall not be deemed to have been
                     terminated for Cause unless and until there shall have been
                     delivered to Consultant a copy of a resolution, duly
                     adopted by the affirmative vote of a majority of the entire
                     membership of the Board of Directors (Board) at a meeting
                     of the Board called and held for such purpose (after a
                     reasonable notice to the Consultant and an opportunity for
                     Consultant, together with its counsel, to be heard before
                     the Board), finding that in the good faith opinion of the
                     Board, Consultant was guilty of conduct set forth above and
                     specifying the particulars of the conduct in detail.

       (iv)   Termination by Consultant or Vercillo. Consultant or Vercillo may
              terminate this Agreement (a) for Good Reason (as defined below) or
              (b) Vercillo's health should become impaired to any extent that
              makes the performance of his duties under this Agreement hazardous
              to his physical or mental health or his life, provided that
              Vercillo shall have furnished the Corporation with a written
              statement from a qualified doctor to that effect and provided
              further that at the Corporation's request and expense Vercillo
              shall submit to an examination by a doctor selected by the
              Corporation, and the doctor shall have concurred in the conclusion
              of Vercillo's doctor. Consultant shall give the Corporation thirty
              (30) days prior written notice of its intent to terminate this
              agreement.

              "Good Reason" means the Corporation has had a Change in Control.
              For purposes of this Agreement, a Change in Control means the
              occurrence of an event or series of events (whether or not
              approved by the Board) by which any person or other entity or
              group of persons or other entities acting in concert as determined

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CONSULTING AGREEMENT
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              in accordance with Section 12 (d) of the Securities Exchange Act
              of 1934, as amended (the "Exchange Act"), whether or not
              applicable, together with its or their affiliates or associates
              shall, as a result of a tender offer or exchange offer, open
              market purchases, privately negotiated purchases, merger or
              otherwise (including pursuant to receipt of revocable proxies) (a)
              be or become directly or indirectly the beneficial owner (within
              the meaning of Rule 13d-3 and Rule 13d-5 under the Exchange Act,
              whether or not applicable, except that a person shall be deemed to
              have beneficial ownership of all securities that such person has
              the right to acquire whether such right is exercisable immediately
              or only after the passage of time) of more than (30) percent of
              the combined voting power of the then outstanding common stock of
              the Corporation or (b) otherwise have the ability to elect,
              directly or indirectly, a majority of the Board.

       (v)    Notice of Termination. Any termination of this Agreement shall be
              communicated by written Notice of Termination to the other party
              of this Agreement. "Notice of Termination" means a notice which
              indicates the specific termination provision in this Agreement
              relied upon and shall set forth in reasonable detail the facts and
              circumstances claimed to provide a basis for the termination of
              the Consultant's retention under the provision so indicated.

       (vi)   Date of Termination. Date of termination means

              (a)    if the Agreement is terminated by Vercillo's death, the
                     date of his death, (b) if the Consultant's retention is
                     terminated pursuant to subsection 7(iii) (a) above, thirty
                     (30) days after Notice of Termination is given provided
                     that Vercillo shall not have returned to the performance of
                     his duties during the thirty (30) day period, (c) if the
                     Consultant's retention is terminated pursuant to subsection
                     7(iii) (c) above, the date specified in the Notice of
                     Termination after the expiration of any cure periods, and
                     (d) if the Consultant's retention is terminated for any
                     other reason, the date on which Notice of Termination is
                     given.

8.     Compensation Upon Termination or During Disability:

       (i)    Upon Vercillo's death, the Corporation shall pay to the person
              designated by Consultant in a notice filed with the Corporation
              or, if no person is designated, to Vercillo's estate as a lump sum
              death benefit, Consultant's full compensation for a period of six
              (6) months after the date of Vercillo's death. Upon full payment
              of amounts required to be paid under this subsection, the
              Corporation shall have no further obligation under this Agreement.

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CONSULTING AGREEMENT
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       (ii)   During any period that Vercillo fails to perform his duties under
              this Agreement as a result of incapacity due to physical or mental
              illness, Consultant shall continue to receive its full
              compensation until the Consultant's relationship is terminated
              pursuant to Section 7(ii) of this Agreement, or until Consultant
              shall receive a lump sum of six months' compensation.

       (iii)  If the Consultant's retention is terminated for Cause as defined
              in subsection 7(iii), the Corporation shall pay the Consultant its
              compensation through the date of termination at the rate in effect
              at the time Notice of Termination is delivered and the Corporation
              shall have no further obligation to Consultant under this
              Agreement.

       (iv)   If (a) in breach of this Agreement, the Corporation shall
              terminate the Consulting relationship other than pursuant to
              Sections 7(iii) (b) or 7 (iii) (c) (it being understood that a
              purported termination pursuant to Sections 7(iii) (b) or 7(iii)
              (c) which is disputed and finally determined not to have been
              proper shall be a termination by the Corporation in breach of this
              Agreement), or (b) the Consultant shall terminate the relationship
              for Good Reason, then

              (1)    The Corporation shall pay the Consultant its full
                     compensation through the date of termination at the rate
                     then in effect at the time Notice of Termination is given
                     through the end of the Term;

              (2)    In the event of a Change in Control as defined in Section
                     7(iv), the Corporation shall pay Consultant, in a lump sum,
                     an amount equal to the greater of (a) twice the amount then
                     due through the end of the Term; or (b) two times the
                     annual compensation paid to Consultant.

              (3)    In the event of a Change in Control of the Corporation as
                     defined in Section 7(iv) above, the total number of
                     outstanding unexercised options (warrants) granted to
                     Consultant under this Agreement as well as any previous
                     employment, consultant or other agreements, shall be
                     doubled in quantity while retaining the original exercise
                     price.

              (4)    The Corporation shall pay all reasonable legal fees and
                     expenses incurred by Consultant in contesting or disputing
                     any such termination or in seeking to obtain or enforce any
                     right or benefit in this Agreement.

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CONSULTING AGREEMENT
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       (v)    Unless the Consultant is terminated for Cause, the Corporation
              shall maintain in full force and effect, for the continued benefit
              of Consultant for the greater of the remaining term of this
              Agreement or eighteen (18) months after termination of this
              Agreement, all health and hospitalization plans and programs in
              which Consultant was entitled to participate in immediately prior
              to the Date of Termination as defined in Section 4 of this
              Agreement, provided that Consultant's continued participation is
              possible under the general terms and provisions of the plans and
              programs. If Consultant's participation in any plan or program is
              barred, the Corporation shall arrange to provide the Consultant
              with benefits substantially similar to those which Consultant
              would otherwise have been entitled to receive under the plan and
              program from which his continued participation is barred.

9.     Savings Clause: The determination that any provision of this Agreement is
       unenforceable shall not terminate this Agreement or otherwise affect the
       other provisions of this Agreement, it being the intention of the parties
       hereto that this Agreement shall be construed to permit the equitable
       reformation of such provision to permit the enforcement thereof, if
       possible, and otherwise to permit the enforcement of the remaining
       provisions of this Agreement as if such unenforceable provision were not
       included herein.

10.    Equitable Relief: The parties hereto agree and declare that legal
       remedies may be inadequate to enforce the provisions of this Agreement
       and that equitable relief, including specific performance and injunctive
       relief, may be used to enforce the provisions of this Agreement.

11.    Notices: Any notice required or permitted to be given under this
       Agreement shall be in writing and shall be deemed to have been given and
       received on the date when personally delivered or deposited in the United
       States Mail, registered postage prepaid, addressed:


                     a.     if to the Corporation to: Mr. Ilia Lekach Parlux
                            Fragrances, Inc. 3725 S.W. 30th Avenue Fort
                            Lauderdale, FL 33312

                     b.     if to the Consultant or Vercillo to: Mr. Albert
                            Vercillo 74 Summit Road Port Washington, NY 11050

       or to such other address as the Corporation or the Consultant may
       designate in writing.

12.    Amendments: This Agreement may be amended or modified only by a writing.

13.    Governing Law: This Agreement shall be governed and construed under the
       laws of the State of Florida.

14.    Entire Agreement: This Agreement constitutes the entire Agreement between
       the Consultant, Vercillo and the Corporation, with respect to its subject
       matter, and all prior and other agreements between them, oral or written
       concerning the same subject matter are merged into this Agreement and
       thus extinguished.


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CONSULTING AGREEMENT
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15.    Survival of Covenants: Any of the provisions in this Agreement which
       would by their terms continue after the termination of this Agreement
       shall be deemed to survive such termination.

16.    Assignability and Binding Effect: This Agreement shall be binding upon
       and inure to the benefit of the Corporation and its successors and
       assigns. This Agreement may not be assigned by either party without the
       written consent of the other party hereto.

IN WITNESS WHEREOF, the parties have hereunto set their hands and seals as of
the date first written above.


PARLUX FRAGRANCES, INC.


By: s/s Ilia Lekach
    --------------------------------------
Ilia Lekach, Chief Executive Officer


Consultant
CAMBRIDGE DEVELOPMENT CORPORATION



By: s/s  Albert F. Vercillo
    ---------------------------------------
Albert F. Vercillo, President
and Albert F. Vercillo
Individually


Attested to by:

s/s Frank A. Buttacavoli
------------------------------
Frank A. Buttacavoli
COO, CFO, Executive Vice President