Parlux Fragrances( PARL) sold the Perry Ellis fragrance brand back to Perry Ellis International (PERY) - Get Report for $63 million in cash.

"Perry Ellis is a fine brand that has served us well for many years," Parlux said. "The licensor's future plans envisioned a more restrictive control over creative development. Its cash offer to take back the brand allows us to strengthen our balance sheet and have additional resources to expand our other brands."