The Fragrance Outlet (“TFO”) is a leading specialty retailer of brand name fragrances, cosmetics, and related products. The Company’s concept is based upon offering the widest assortment of branded men’s, women’s, and children’s fragrances to consumers at discounts ranging from 15%-70% below traditional department store and mall-based specialty retailer prices. Headquartered in Miami, Florida, TFO was founded in 1990 by its current CEO with the opening of its first store in Potomac Mills, Virginia. Currently the Company’s store base consists of over 70 outlet mall-based stores in 23 states, Puerto Rico, and Guam, all of which are Company-owned.