1





                                                                   EXHIBIT 99.1


FOR IMMEDIATE RELEASE

Company Contact:
Ilia Lekach
Chairman and CEO
E Com Ventures, Inc.
305-889-1520

         E COM VENTURES, INC. SIGNS OPTION AGREEMENT TO REPURCHASE ITS
                       OUTSTANDING CONVERTIBLE DEBENTURES


MIAMI, February 27, 2001 --- E Com Ventures, Inc. (NASDAQ: ECMV) announced today
that it had signed an agreement that gives the Company the option to repurchase
its approximately $8.7 million outstanding convertible debentures over an eleven
month period at a price equal to the unpaid principal balance plus a 20%
premium. The note holders have agreed not to further convert any of the
convertible debt into the Company's common stock as long as the Company
continues to redeem the convertible debentures.

A. Mark Young, Chief Financial Officer of E Com Ventures, Inc. said, "Entering
into this agreement with the debenture holders is an accomplishment that we
believe will enhance the market value of our shares. We consider our stock price
to be undervalued and not reflective of the results of our current performance."

E Com Ventures, Inc., a holding company, owns and operates Perfumania retail
stores, perfumania.com, provides Internet fulfillment and other services.
Perfumania is the largest perfumery chain in the United States.

THIS PRESS RELEASE MAY INCLUDE INFORMATION PRESENTED WHICH CONTAINS
FORWARD-LOOKING INFORMATION, INCLUDING STATEMENTS REGARDING THE STRATEGIC
DIRECTION OF THE COMPANIES. THESE COMMENTS CONSTITUTE FORWARD-LOOKING STATEMENTS
(WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995),
WHICH INVOLVE SIGNIFICANT RISKS AND UNCERTAINTIES. ACTUAL RESULTS MAY DIFFER
MATERIALLY FROM THE INFORMATION DISCUSSED IN THESE FORWARD-LOOKING STATEMENTS.
AMONG THE FACTORS THAT COULD CAUSE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENT TO
DIFFER MATERIALLY FROM THOSE DESCRIBED OR IMPLIED IN THE FORWARD-LOOKING
STATEMENTS ARE GENERAL ECONOMIC CONDITIONS, COMPETITION, POTENTIAL TECHNOLOGY
CHANGES, CHANGES IN OR THE LACK OF ANTICIPATED CHANGES IN THE REGULATORY
ENVIRONMENT IN VARIOUS COUNTRIES, THE ABILITY TO SECURE PARTNERSHIP OR
JOINT-VENTURE RELATIONSHIPS WITH OTHER ENTITIES, THE ABILITY TO RAISE ADDITIONAL
CAPITAL TO FINANCE EXPANSION, AND THE RISKS INHERENT IN NEW PRODUCT AND SERVICE
INTRODUCTIONS AND THE ENTRY INTO NEW GEOGRAPHIC MARKETS.

                                       ###