Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Michael Nofi has been appointed as Perfumania Holdings, Inc.’s (“the Company”) Chief Financial Officer, effective May 2, 2017. Mr. Nofi, age 46, has over 25 years of experience in corporate finance including financial reporting, business process improvement and organizational effectiveness. Prior to joining the Company, Mr. Nofi served as the Vice President of Finance and Controller of Acorda Therapeutics, which develops therapies for people with neurological disorders. From 2014 to 2015, Mr. Nofi served as the Vice President, Global Internal Audit for Allergan, a leading integrated global specialty pharmaceutical company. Mr. Nofi held increasing roles of responsibilities in Corporate Finance at Forest Laboratories, including Assistant Vice President, Assistant Controller from 2010 to 2014. Mr. Nofi received a B.S. in Accountancy at the Villanova University and is a>Certified Public Accountant .

In connection with his appointment, Mr. Nofi will receive an annual base salary of $280,000, and he will also be eligible to receive other benefits available to the Company’s other executive officers. Mr. Nofi will be an “at-will” employee of the Company and will have no specified term as Chief Financial Officer.

About Perfumania Holdings, Inc. (NASDAQ:PERF)

Perfumania Holdings, Inc. is a wholesale distributor and retailer of perfumes and fragrances. The Company conducts its business its subsidiaries, Perfumania, Inc. (Perfumania), Quality King Fragrance, Inc. (QFG), Scents of Worth, Inc. (SOW), Perfumania.com, Inc. (Perfumania.com), Five Star Fragrance Company, Inc. (Five Star) and Parlux Fragrances, LLC (Parlux). The Company operates in two segments: wholesale distribution and specialty retail sales of designer fragrance and related products. Its wholesale business includes QFG, Parlux and Five Star. Its retail business is conducted through Perfumania, SOW and Perfumania.com. QFG distributes designer fragrances to mass market retailers, drug and other chain stores, retail wholesale clubs, traditional wholesalers, and other distributors throughout the United States. Perfumania is a retailer and distributor of a range of brand name and designer fragrances and operates a line of bath and body products under the name Jerome Privee.

Perfumania Holdings, Inc. (NASDAQ:PERF) Recent Trading Information

Perfumania Holdings, Inc. (NASDAQ:PERF) closed its last trading session up +0.05 at 1.05 with 4,916 shares trading hands.