Document:

Exhibit 10.79.1

                                      1

                                      LEASE

BETWEEN THE UNDERSIGNED:

MAJORQUE, a Limited Liability Company with capital of 1,000,000 Francs,
headquartered in Wissous (91320), 18 avenue Ampere, recorded with the Register
of Commerce and Companies of Evry under No. B 420 026 387, represented by its
Manager, Ms. Emily Benharrous.

                                                           Hereinafter "LESSOR,"

                                                        PARTY OF THE FIRST PART,

AND:

INTER  PARFUMS,   a  corporation  with  capital  of  45,515,720   Francs,   with
headquarters at 4 Rond-Point des Champs-Elysees,  75008 Paris, recorded with the
Register of Commerce and Companies of Paris under No. B 350 219 382, represented
by Mr. Philippe Benacin,  Chairman of the Supervision Board, duly authorized for
this instrument.

                                                           Hereinafter "LESSEE,"

                                                       PARTY OF THE SECOND PART,

THE FOLLOWING HAS BEEN ESTABLISHED:

Lessor leases and rents, pursuant to the provisions of decree No. 53-960 of
September 30, 1953, as amended, to Inter Parfums, which the latter accepts, the
premises described below, in a building located in Paris 8th (arrondissement),
18 avenue Franklin Roosevelt.

ARTICLE 1 - DESCRIPTION

In the building located in Paris 8th (arrondissement), 18 avenue Franklin
Roosevelt, on the 1st floor:

- A space including ten offices, a kitchen, a file room, two toilets (one of
which double), an entrance. Individual electric heating.

As these spaces arise from the enclosed plan (Addendum 1).

<PAGE>

                                       2

As said premises exist and are, without any exception or reservation, without
need of more ample description since Lessee declares that it knows them, having
seen and visited them for the purpose hereof. The parties agree that the leased
premises form an indivisible whole.

ARTICLE 2 - TERM

This lease is granted and accepted for a term of nine years, from April 7, 2000.

Lessee may cancel at the end of each three-year period, under the conditions set
forth in the decree of September 30, 1953.

Given the renovations necessary in these premises, Lessor grants a two-month
grace period for the rent and charges, so that the first payment of rent and
charges will take place on June 7, 2000.

ARTICLE 3 - OBTAINING ENJOYMENT AND STATEMENT OF THE CONDITION OF THE PREMISES

The premises will be taken as they are on the beginning date of enjoyment,
whereby Lessee may not require repairs or work of any nature throughout the term
of the lease.

Throughout the term of the lease, Lessee must make all tenant repairs.

At the end of the lease, the leased premises must be returned in perfect tenant
repair condition.

Lessee may not require any renovation, any claim or any work, and may not
exercise any remedy against Lessor due to cases of force majeure and any other
causes of any type in connection with the condition of the premises.

Lessee will pay for all fitting out work, installations and construction ordered
by a law or regulation in matters of hygiene or safety on the premises
themselves.

ARTICLE 4 - UTILIZATION OF THE PREMISES

Lessee may not give the premises any utilization other than that set forth in
this lease, to wit:

                                    SALE OF COSMETIC PRODUCTS

Lessee must permanently engage in the aforementioned activities on the premises.

                                   [initials]

<PAGE>

                                       3

ARTICLE 5 - CHARGES AND CONDITIONS

In addition, this lease is executed under the following charges and conditions
which Lessee pledges to perform and accomplish under penalty of any damages and
even cancellation if Lessor so chooses:

         1) Lessee must  furnish and keep  furnished  the leased  premises  with
equipment, merchandise,  furniture and movables, in sufficient quality and value
to cover the payment of the rent and the  performance  of the  conditions of the
lease.

         2) Lessee may not close the leased premises, which must remain open for
the  aforementioned  commercial  activity  throughout  the term of the lease and
until its  expiration,  except in case of force  majeure or Lessee's  need to do
work that requires closing.

         3)  It  will  keep  the  premises  in  good  tenant  repair  conditions
throughout  the term of the  lease and will do at its own  expense  all works or
repairs of any nature which are or may become  necessary,  including  those that
may arise from a regulatory obligation,  so that at the end of the lease, it may
return them in good tenant repair condition.

It is also agreed that, should the  administration  or any authority  whatsoever
require, at a certain time, a modification and/or utilization of the space, even
if  such  requirement  follows  a  case  of  force  majeure,   all  charges  and
consequences  of this  modification  and/or  utilization  will be fully  paid by
Lessee,  which pledges to do so. However,  Lessee may not be obligated to do the
work necessary for such modification and/or utilization of the space.

         4) Lessee pledges to maintain and replace,  at its expense,  any amount
of work  and  repairs  (including  due to old  age)  all  installations,  pipes,
devices,  closures and, more generally, all elements furnishing or making up the
leased premises, without exception.

Lessee agrees that, should it fail to do all work related to maintenance, repair
and replacement in its charge,  Lessor may do such work and repairs in its place
and stead,  thirty days after  sending a registered  letter with return  receipt
requested, which remains without response, except in emergencies; Lessee pledges
to reimburse  the actual cost thereof,  including all related  expenses and fees
within fifteen days from receipt of Lessor's statement.

         5) It will enjoy the premises as a good head of family,  in  accordance
with the  utilization  indicated  above,  and may not, in any case,  do or cause
anything to be done that may deteriorate them; it must immediately notify Lessor
of any damage  caused to the  entire  property  and all damage or  deterioration
produced on the leased premises.

         6) It must remove  without  delay all frames and  decoration as well as
all  installations  done by it and that need to be  removed in order to seek and
repair leaks of all types,  cracks in smoke or

<PAGE>

                                       4

ventilation  stacks,  especially  after a fire or leak, and in general,  for the
execution of work, provided such search is proven to be justified.

                                   [initials]

It may not invoke in any manner the  liability  of Lessor if the public water or
electricity  services are interrupted in the building following repairs or other
causes.

         7) Lessee may not engage on the leased premises in any  construction or
demolition  concerning  the  masonry of the  building,  nor  piercing  of walls,
partitions or floors,  without express written consent from Lessor,  whereby the
work  authorized  by the  latter  must  be done  under  the  supervision  of its
architect, whose fees will be paid by Lessee.

The work authorization must be materialized in three acts:

o        a precise description
o        a modification plan mentioning the current condition
o        the insurance policies necessary for the realization of the work

which must be signed and approved by Lessor.

However, at the time of the request for authorization, Lessor may condition its
agreement on the restoration of the premises to their original state.

         8)  All  embellishments,  constructions,  modifications,  improvements,
installations  and decorations of any type done by Lessee on the leased premises
during the term of the lease,  remain,  at the end of the lease, at any time and
under any  status,  property  of  Lessor,  without  any  indemnity  for  Lessee,
including electric installations,  air conditioning units in their entirety, and
all other  elements of  equipment  possibly  installed  on the leased  premises,
without limitation.

Lessee will allow,  without  remedy  against  Lessor,  the work  executed in the
building,  on the  public  road,  or in  neighboring  buildings,  even  if  they
constitute a nuisance for its operation.

         9)  Lessee  must  pay  for  any  modification  of  the  incoming  pipe,
replacement of the meter or internal  installations  that may be required by the
distributors of water, electricity, heating or air conditioning.

In particular,  in the event or  installation  of a lost water air  conditioning
system, it pledges to install a separate meter at its own expense.

         10) Lessee must comply with all charges,  city regulations,  police and
road  regulations  and do nothing  that may trouble the  tranquility  or cause a
trouble of enjoyment to the  neighbors and to the  inhabitants  of the building,
especially  due to noise,  odors,  smoke,  etc.,  whereby the owner declines any
liability in this regard.

         11) It must rigorously  comply, in the operation of its activity,  with
laws, regulations and

<PAGE>

                                       5

administrative  prescriptions,  and must take upon itself,  if  applicable,  any
modifications or  installations  that may be required by the  administration  or
health  services  so that  Lessor  may  never  be  preoccupied  in this  regard.

[initials]

         12) It must take all necessary  precautions to avoid all noises, odors,
and smoke and to prevent the existence of any harmful animals or insects.

It must continuously supervise its personnel and assure their correct behavior.

<PAGE>

                                       6

It will allow the installation and passage of all water, gas, electricity, and
heating pipes, all ducts regardless of their location, apparent or not found on
the leased premises and its accessories or appurtenances, to the entire extent
required, not only for the service of its own premises, but for the service of
the building.

         13) All  tenant  repairs  concerning  the  leased  premises,  including
repairs and  replacements  that become  necessary during the lease, in glass and
mirrors,  shutters,  glass panes,  chutes,  water chutes,  etc., will be paid by
Lessee. It will have the obligation to maintain  everything in good cleanliness,
maintenance and operating condition.

         14) Lessee  may not claim from  Lessor  damages or rent  reduction  for
leaks, floods, water damages or infiltrations of any type produced on the leased
premises for any reason whatsoever.

         15) Lessee must allow  Lessor,  its agent,  and any person  bearing the
authorization  of Lessor to visit the leased  premises  whenever  they deem fit,
especially  in the event of work or repairs or during six months  before the end
of  this  lease;  with  the   understanding   that  Lessor  must  notify  Lessee
sufficiently  in  advance  and in  writing,  and  take  all  necessary  steps to
interfere  as little as possible  with its  activity.  Furthermore,  Lessee must
allow Lessor,  its agent, or any person bearing the  authorization  of Lessor to
visit the  leased  premises  whenever  they deem fit in the event of sale of the
building, during three months after the building is put on the market.

         16) Lessee  will  insure and keep  insured  throughout  the term of the
lease against the risks of fire and explosion,  implosion,  glass  breakage,  as
well as tenant risks,  remedy of third  parties and  neighbors,  water  damages,
without  limitation  to  this  list,  the  furniture,  movables,  equipment  and
merchandise found on the leased premises. The mirrors and glass in the space are
not insured together with the building.

It must  regularly  pay premiums and prove such payment at the first  request of
Lessor.

Concerning more particularly the operation of the premises, Lessee must insure
it pursuant to applicable administrative and legal regulations.

Lessee will insure the leased premises at their reconstruction value.

17) Liability and remedy:

Lessee and its insurers expressly waive any remedy and action against Lessor and
its insurers,  either due to the total or partial  destruction of its equipment,
furniture,  movables and merchandise and, more generally,  any objects belonging
to it or in its possession for any reason whatsoever, or for their deterioration
or for deprivation of enjoyment of the premises,  and even in the event of total
or partial loss of its business,  including the intangible  elements  related to
such business.

Reciprocally,  Lessor and its insurers expressly waive any remedy and actions to
which they may be

<PAGE>
                                       7

entitled  against  Lessee and its insurers,  in the event of damage of any type,
direct or indirect, incurred by the leased premises, equipment or furniture made
available to Lessee, as well as for loss of rent, trouble of enjoyment,  or loss
of operation caused to third parties that may arise therefrom.

                                   [initials]

Furthermore,  Lessee  declares that it waives any remedy  against Lessor and its
insurer/s.

-        In the event of damage,  fire,  theft,  water  damage,  humidity or any
         other circumstance  affecting its own assets and the assets that may be
         considered real estate by nature,  by utilization or by  incorporation,
         installed at its expense,  whereby Lessee must take  insurance  against
         such risks,

-        In the  event of theft or other  criminal  act to which  Lessee  may be
         victim in the premises,

-        In the  event of  notification,  interruption,  or  elimination  of the
         security guard of the building,

-        In the event of  interruption  or  untimely  operation  in water,  gas,
         electricity,  air conditioning  service or, in general, in the event of
         interruption  or  stoppage,  even  prolonged,  for a cause  beyond  the
         control of Lessor,  in fluid service,  heating,  or any elements of the
         common equipment of the building,

Lessee also waives claims against Lessor, in the event of material or intangible
damage not  intentionally  caused   by   Lessor,  indemnity for  deprivation  of
enjoyment or loss of operation due to the total or partial  interruption  of its
operation for any reason whatsoever.

         18)  Lessee  will pay  exactly  the  taxes,  professional  tax,  and in
general, all taxes, contributions,  and dues payable by it, and for which Lessor
may be responsible  for any reason.  It must prove such payment to Lessor at any
request.

It  will  also  pay the  land  tax for the  leased  premises  and any new  taxes
concerning the premises that may be required by the Tax Administration,  even if
normally such taxes are paid by Lessor.

It will also pay the lease fee and the  additional  lease fee tax if Lessor does
not maintain its VAT option.

         19)  Lessee  will be  obliged to pay,  from the  effective  date of the
lease, to Lessor or its manager, its share of all charges,  services or expenses
or the building,  including the taxes and dues related to the building,  such as
sweeping tax, tax for removal of household  garbage and industrial or commercial
waste,  land taxes and related taxes,  as well as any new tax or those replacing
them.

[handwritten] land tax ~14,000 Francs
                        -------------

         20)  Finally,  it will pay  directly its  consumption  of  electricity,
water, heating, and the expenses of all telephone subscriptions, taxes, and cost
of all communications.

<PAGE>
                                       8

         21) Lessee must not cause the  installation  of any sign or advertising
plaque on the facade of the leased premises,  nor modify the exterior appearance
of the building by installing awnings,  canopies,  blinds,  signs, etc., without
authorization from Lessor, the Administration concerned, and the condominium.

Should Lessee wish to install a commercial  plate, it must be in accordance with
the appearance of the building,  installed next to the existing one, in the same
size and style as the latter,  at  Lessee's  exclusive  expenses  and with prior
approval.

                                   [initials]

It will pay the cost of any tax or royalty related to these signs.

         22) Lessee may not  request a  reduction  of rent or  indemnity  in the
event of suppression,  interruption or poor operation of the various services of
the building (heating, water, electricity,  etc.), regardless of their cause and
duration.

         23) Lessee pledges to move in and move out most of its furniture
through the windows of the leased space.

ARTICLE 6 - TRANSFERS - SUBLEASES

Lessee may not transfer the  enjoyment of the leased  premises to any party,  in
any form, even  temporarily,  be it free of charge and  precarious,  and may not
sublease  all or  part  of the  premises  or  place  its  business  under  lease
management.

However,  Lessee may  sublease  or  domicile  one or several  companies  legally
belonging to the same group as Lessee on the leased premises.  To do so, it must
submit  the  company  or  companies  to  Lessor,   by  registered   letter  with
acknowledgment of receipt, for approval.

Such approval must be the object of a written confirmation and agreement between
the parties, to wit: Lessee, Lessor, and the subLessee or subLessees.

In any event and at any time,  the subLessee or subLessees  may not claim direct
or indirect  rights against  Lessor,  whereby Lessee remains the sole guarantor,
jointly liable for the charges and conditions of this lease.

It is specified  that the subLessee or subLessees  will not have at any time any
right or any occupancy title enforceable against Lessor at the end of the lease.

Lessee may not transfer its right in this lease other than in whole to the buyer
of its entire  business,  which will  perform all  activities  described  in the
lease, with obligation to call the Lessor to participate in the transfer,  under
penalty of nullity of the transfer granted in violation of this clause, and even
cancellation of this lease, if Lessor so chooses.

<PAGE>
                                       9

Lessee will remain joint ly and severally  guarantor with its transferee and all
subsequent  transferees  for the  payment  of rent,  charges  accrued  or yet to
accrue, and for the performance of the conditions hereof.

To be valid,  any  transfer  must be  instrumented  in the presence of Lessor or
after duly inviting Lessor to participate.

A registered copy of the transfer document must be given to Lessor at no charge,
within 15 days from the transfer.

Lessee must send to Lessor, by registered letter with acknowledgment of receipt,
the draft transfer instrument in its entirety,  indicating in particular,  under
penalty of nullity of the  notification,  the name and address of the buyer, the
price,  payment  terms  and,  in  general,  all the  conditions  of the  planned
transfer,  as well as the places,  day and time  scheduled  for the execution of
this  transfer,  which may not take place less than one month  after  receipt of
this notification.

                                   [initials]

Said draft will be signed by the  candidate  buyer,  with the  mention  that the
draft is signed as a simple  declaration  of  intent.  If the  parties  executed
binding  agreements,  even with the  suspensive  condition of  settlement of the
preferred  rights and settlement of creditors'  rights,  the above  notification
must include the termination of the entire said instrument.

Lessor will have the right,  within one month from receipt of said notification,
to inform  Lessee in the same manner,  in accordance  with the  preferred  right
recognized  to it, under equal  conditions of its decision to use this right for
its own  profit  or for  any  individual  or  artificial  person  it  wishes  to
substitute.

In the event of exercise  of the  preferred  right,  the  transfer  must then be
settled within fifteen days.

The preferred  right so defined will be imposed under the same conditions to the
successive  buyers  during  the  entire  term of the lease,  its  extension,  or
renewals.

The formal condition above,  and, in particular,  the provisions  concerning the
preferred  right,  will  apply to all  transfers  regardless  of their  form and
method; transfers for payment or free of charge, transfer or contribution of the
lease right and business, amicable or court-ordered transfer.

ARTICLE 7 - INTERNAL REGULATION - CONDOMINIUM REGULATION

In the interest of the security, hygiene, good order and cleanliness of the
building,  Lessee  pledges that its behavior will be peaceful and to comply,  in
addition to municipal and prefectural decisions, with all orders that may be
given to it by Lessor. It may not engage on the leased premises in any public
sale of furniture or other objects.

<PAGE>

                                       10

It must not use any  device or  machine  which,  by noise,  odor,  humidity,  or
trepidations would be of a nature to bother the other tenants,  the neighbors or
to damage the building.

It must pay all city and police charges, foreseen or unforeseeable, usually paid
by tenants, and comply with police regulations.

Lessee must deposit its personal garbage in the containers installed for this
purpose in the building.

Furthermore, it is formally agreed that neither Lessor nor its employees will be
responsible for theft, embezzlement, robbery, or attempts of such crimes against
the tenant and the resulting  damage,  including to the real estate assets,  and
that Lessor will not take any responsibility for the personal services requested
by Lessee from its employees, such as commission,  communications, other than in
connection with the keys, cash, or objects held by them on behalf of the tenants
or third parties.

By express  agreement,  Lessor declines  responsibility  as of now,  pursuant to
article 1725 of the Civil Code for any damage or trouble of  enjoyment  that may
be caused to Lessee because of third  parties;  Lessee waives any remedy against
it and may exercise directly its remedy,  if it so chooses,  against the authors
of the trouble,  whereby, in addition, Lessor hereby subrogates it in its rights
and actions in relation to this issue.

                                   [initials]

In the event of absence,  it must leave the keys of the  premises  with a person
designated by it to Lessor, so that in the event of accident, fire, water or gas
leak,  work,  or any other  reason,  it may be  possible  to access  the  leased
premises and that, in the event of loss, all necessary  precautions may be taken
immediately.

ARTICLE 8 - MAIN RENT

This lease is granted and  accepted  for an annual rent of 587,500  FRANCS (FIVE
HUNDRED  EIGHTY-SEVEN  THOUSAND FIVE HUNDRED  FRANCS) not including  charges and
taxes,  which Lessee pledges to pay with the related value added tax, by quarter
and on maturity. The quarters begin on the first day of January, April, July and
October.

ARTICLE 9 - TRANSITION TO THE SINGLE EUROPEAN CURRENCY

As needed and pursuant to the general principles of monetary law, receivables of
amounts of money,  expressed and/or payable in French Francs hereunder,  will be
ipso jure considered  expressed  and/or payable in the single European  currency
when the Franc stops being legal or, more  generally,  is replaced by the single
European currency pursuant to community and/or national regulations.

<PAGE>

                                       11

The rate and  conditions  for the  conversion of the French Francs will be those
resulting from the  application of the provisions of article 109-L of the Treaty
of the European Union.

Of course,  the replacement of the French Franc by the single European  currency
will not cause an  innovation  or  breach  between  the  parties,  even if,  for
technical  reasons,  the National  Construction Cost Index published by INSEE is
replaced by a substitution index or a similar or equivalent index.

ARTICLE 10 - SLIDING SCALE CLAUSE

The rent established  above will be  automatically  revised each year on the due
date and for the first time on April 1, 2001,  upwards or  downwards  and in the
exact  proportion of the variation of the  Construction  Cost Index published by
INSEE whereby the  contractually  chosen base index is that of the third quarter
of 1999 (1080), so that the first revision on April 1, 2001 will be based on the
variation of the indexes of the third quarter 1999 and third quarter 2000.

For the following  years,  the  comparison  index used to calculate the revision
will be the index of the third  quarter of the year  preceding  the revision and
the base  index,  the  index of the  third  quarter  of the year  preceding  the
comparison index.

If, for any reason,  the index  published  by INSEE  becomes  inapplicable,  the
parties agree to replace it by a new equivalent  index which will be determined,
in the absence of agreement, by order upon request of the President of the Court
of First Instance of Paris.

The rent indexation clause  constitutes an essential and decisive clause without
which Lessor would not have contracted.

                                   [initials]

ARTICLE 11 - PAYMENT OF THE RENT

Lessee pledges to pay the rent and its  incidentals  to Lessor,  on the four due
dates during the year, on the first day of January, April, July and October.

For this purpose,  Lessee pledges to pay to Lessor the amount established by the
latter as down payment on charges, services,  supplies, taxes and others. At the
end of the year,  i.e.,  December  31 of each year,  a final  statement  will be
issued with the due date notice of June,  and any  possible  excess paid will be
reimbursed.

Lessor pledges to communicate to Lessee, at the first request of the latter, any
receipt related to the final statement of charges. In the event of assignment of
the lease during the year,  the final  statement will be issued with the results
of the prior year and projections for the current year.

In the event of dispute,  the payments  made by Lessee will be applied by Lessor
in the following order:

<PAGE>

                                       12

- expenses for collection and proceedings

- damages

- interest

- security deposit and adjustment of the security deposit

- receivables for rent or occupancy indemnities; concerning these
  items, the application will be made by Lessor with priority from the amounts
  that are not contested

- adjustment in the working capital fund

- provision on common charges

Within  each  of  these  items,   priority  will  be  given  to  accessories  or
appurtenances over the main space.

ARTICLE 12 - SECURITY DEPOSIT

As a surety and guarantee for the  performance  of the  obligations of all types
arising from this lease for Lessee,  the latter pays today the amount of 146,875
Francs corresponding to three months of rent in the first year.

This  amount  will be kept by Lessor  during the entire  term of the lease until
full and final  payment of any  indemnity of any nature Lessee may owe to Lessor
at the end of the lease and when it vacates the premises.

This amount will not produce interest.

In the  event  of  cancellation  of  the  lease  for  non-performance  of  these
conditions or for any cause  imputable to Lessee,  such  guarantee  payment will
remain in the hands of Lessor as first damages, without prejudice to all others.

                                   [initials]

It is expressly  agreed that,  in the event of variation in rent under the above
clause,  the amount paid as security deposit must be matched to the new rent, so
that the security  deposit is always in an amount equal to three months of rent.
Lessee will pay, when paying the first increased  rent, the amount  necessary to
replenish  the deposit,  and in the event of reduction of the rent,  Lessor will
refund to Lessee the amount in excess.

In  addition,  in the case of  Lessor's  debt,  it must be  offset  against  any
receivables  arising from this lease possibly held by Lessor against Lessee, and
then,  in the event of a settlement  or  court-ordered  liquidation,  Lessor has
grounds to offset the amount of such security deposit against any amounts liable
to be declared by it as receivables,  whereby the  modification  does not change
the nature of the receivables or the possible privileges attached thereto.

<PAGE>

                                       13

ARTICLE 13 - COMMON CHARGES OF THE BUILDING

Lessee will pay charges by paying a provision calculated quarterly, based on the
prior  charges.  These  provisions  will be  deducted  from the  actual  charges
calculated annually.

For the first year, the provision is of 52,875 FRANCS (FIFTY-TWO  THOUSAND EIGHT
HUNDRED SEVENTY-FIVE FRANCS), the VAT being billed separately.

Lessee's  contribution to charges will be calculated on the basis of the current
distribution  of the building,  i.e., 261 square meters for the lot concerned of
the general common parts of the building, out of a total of 2,061 square meters.

<PAGE>

                                       14

It is specified that the charges correspond:

-        to all the taxes of the building, including land tax,

-        to the services  rendered by Lessor related to the building as well
         as condominium  charges in full, not including the work referred
         to in article 606 of the Civil Code,

-        to expenses for equipment, upkeep, cleaning, maintenance, repair,
         refurbishing, replacements, renewal, reconstruction, monitoring,
         security guards, security, bringing up to Code, improvement, even if
         such work is caused by the old age of the building or unless they
         concern the cases referred to in article 606 of the Civil Code,
         management of the common parts, without limitation thereto,
-        to the expenses and fees of the building manager,

so that the rent received by Lessor is net and free of any expenses.

The provisions  will be paid quarterly  under the conditions and on the dates of
payment of the rent.

If, at the end of the  quarter,  the  provision  paid is lower than the previous
charges,  Lessee pledges to reimburse,  at Lessor's  first request,  all amounts
that become necessary to compensate the amount of the real charges.

Lessor will issue an annual statement of accounts.  Consequently,  it pledges to
give Lessee an exact  statement of the tenant charges for the past year, sent to
Lessee within six months from the end of said year, whereby each year taken into
consideration is a calendar year.

                                   [initials]

<PAGE>
                                       15

This statement,  after being  certified by the manager of the building,  will be
final both for Lessor and for Lessee.

If, at the end of the  year,  the  provisions  paid are  lower  than the  actual
charges,  Lessee pledges to reimburse,  at Lessor's  first request,  all amounts
necessary to compensate the total amount of the actual  charges.  Excess amounts
paid are deducted from the provisions of the current year.

If,  for any  reason,  Lessee  must  leave the  premises  hereunder,  the amount
corresponding  to the statement of provisions paid by Lessee until its departure
and the charges  actually  paid by Lessor  until that time,  will be issued ipso
jure, with deduction from the security deposit, as set forth herein.

ARTICLE 14 - PENALTY CLAUSE

Any amount owed by Lessee for charges,  under the clauses and conditions hereof,
will be automatically increased by 10% if the payment is not made within 10 days
after the notice sent by Lessor  either by  extrajudicial  act or by  registered
letter, with return receipt requested.

ARTICLE 15 - OCCUPANCY INDEMNITY

In the event that, in spite of a decision  establishing  the  application of the
cancellation  clause, or the cancellation of the lease, Lessee refused to vacate
the premises, it will owe an occupancy indemnity established on the basis of the
last contractual rent plus 50% until the actual release of the leased premises.

ARTICLE 16 - RESOLUTORY CLAUSE

Should  Lessee fail to pay any of the charges and comply with the  conditions of
the lease or to pay on the due date even a single rent, partially or in full, or
should it fail to pay rent  incidentals,  the amount of the penalty clause,  the
amount of the  occupancy  indemnity,  all overdue  amounts  arising from a court
decision,  especially  by  revision  or  renewal,  including  court  established
interest on these  additions to overdue rent,  all other  contractual  interest,
additions  to the security  deposit  and, in general,  should it fail to pay any
amounts owed by  application  hereof,  the lease will be cancelled ipso jure and
without any judicial formality one month after a notice to pay or a summation to
pay  which  remains  without  effect  during  this  term,   containing  Lessor's
declaration of intent to use the benefit of this clause.

In all events, should Lessee refuse to leave the premises, although the lease is
cancelled  ipso jure,  its  eviction  may be ordered by simple order or referral
rendered by the President of the Court of First Instance which will be executory
provisionally based on the original judgment.

ARTICLE 18 - TOLERANCES - LOCAL USAGE

No tolerance from Lessor may create a right for Lessee or a derogation hereto.
<PAGE>
                                       16

                                   [initials]

<PAGE>

                                       17
For all aspects not set forth, reference is made to the law and local usages.

ARTICLE 19 - ELECTION OF DOMICILE

For the performance hereof, the parties elect domicile, to wit:

         - Lessor at its domicile or headquarters, - Lessee on the leased
         premises.

Lessee pledges to inform Lessor of any change of its headquarters.

Issued in two originals,
On 13 pages and 1 addendum
In Paris, 03/31/2000

                  LESSEE                                      LESSOR

                  [signature]                                [signature]

ENCLOSURES: Plans of the premisesExh. 10.80

CREDIT LYONNAIS

DIRECTION DE MARCHE ENTREPRISES
CHAMPS ELYSEES - PARIS OUEST

                    INTER PARFUMS HOLDING
                    4 Rond Point des Champs Elysees
                    76008 PARIS

                    A l'attention de Monsieur Philippe SANTI

V/Reference
N/Reference       CC/MAD                                  Paris, le 22 Mars 2001
                  [GRAPHIC OF PHONE] 01.49.53.14.04

         Cher Monsieur,

         Je faie suite a notre entretien relatif aux demandes d'informations
financieres et bancaires emanant de votre maison-mere americaine.

         Je vous prie de trouver ci-apres le detail des principaux concours dont
beneficiaient les societes inter parfums Holding, inter parfums SA et inter
parfums Grand Public aupres de notre Etablissement au 31/12/00 :

         o  INTER PARFUMS HOLDING:
            ---------------------

                  -Facilite de Caisse :neant.

         o  INTER PARFUMS SA:
            ----------------

                  -Facilite de Caisse : 4 000 KF.
                  -Credit de Tresorerie : 8 000 KF.
                  -Escompte de Creances Commerciales : 12 000 KF.

         o  INTER PARFUMS GRAND PUBLIC:
            --------------------------

                  -Facilite de Caisse : 2 000 KF.

         Ces differents concours ont ete consentis a duree indeterminee et sont
regis par les dispositions de la Loi Bancaire du 24 Janvier 1984.

         Le renouveilement de ces concours fait l'objet d'un examen annuel par
notre Etablissement, a reception des comptes auditee de vos societes.

         Esperant ainsi repondre a votre attente, je vous prie d'agreer, Cher
Monsieur, l'expression de mes sentiments les mellieurs.

                                                      /s/ Christian
                                                      -------------
                                                      Directeur Commercial

ADRESSE: 55, AVENUE DES CHAMPS ELYSEES - 75381 PARIS CEDEX 08 -
TELEX: 642 008 CREDELYS PARIS
--------------------------------------------------------------------------------
Credit Lyonnais - S.A. su capital de 1767 470 939 - SIREN 954 509 741 - RCS Lyon

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