First there was the lipstick effect. Now Coty Inc.’s chief executive officer Sue Nabi is all about the fragrance effect.
Despite recession fears and sky-high inflation, Coty’s prestige fragrances have been flying off the shelves, with particularly strong performances from Hugo Boss, Burberry, Chloé, Calvin Klein and Gucci Beauty, which delivered 20 percent growth in the fourth quarter and helped the overall prestige sector to grow of 16 per cent year-over-year, to $662.8 million.
— Read more in Forget the Lipstick Effect, It’s the Fragrance Effect at Coty at Women's Wear Daily.
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The effects of surviving COVID have perhaps made people more apt to enjoy fragrances and be willing to spend on ‘prestige’ perfumes and colognes. I know that during the Nordstroms sale I only hesitated for a moment before buying the(very pricy) Delina package.
Yep, agree!