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The situation of Burberry, which took its splendor company in- residence under former Ceo Angela Ahrendts in 2013, offers a cautionary tale. The decision to terminate the bank’s licensing partnership with Interparfums Sa, which held the license for its Montblanc and Van Cleef & Arpels shampoos, sent shares of the company tumbling 9.4 pct on Sept. 6. Kering’s buy of Creed at a 14- days income two in October furthermore made investors sit up and take notice.