In 1924, Coco Chanel made an agreement with the Wertheimer brothers, Pierre and Paul, directors cosmetics house Bourgeois. They created a corporate entity, "Parfums Chanel," and the Wertheimers agreed to provide full financing for production, marketing and distribution of Chanel No. 5. The Wertheimers would receive seventy percent of the profits, and Théophile Bader a twenty percent share. For ten percent of the stock, Chanel licensed her name to Parfums Chanel and withdrew from involvement in all business operations.