The company’s Europe-based operations registered net sales of $39.4 million in the second quarter, which declined 68.6% year over year. In U.S.-based operations, net sales slumped 75.2% to $10.1 million during the quarter.

— Read more in Corornavirus-Led [sic] Store Closures Hurt Inter Parfums' Q2 Sales at Nasdaq.

The luxury industry will feel the fallout from the coronavirus crisis for the next two years if not longer, Chanel's chief financial officer said on Thursday, warning the French fashion label's 2020 revenues and profit would be significantly hit.

[...] It did not give details of the slide in sales so far this year but the next 12 to 18 months would be particularly tough, finance chief Philippe Blondiaux told Reuters, adding that a strong recovery in countries where the group's shops have reopened could not make up for the lack of international travel.

— Read more in Chanel warns virus impact will linger on luxury sector at Yahoo Finance.

NPD data shows that fragrance sales declined in the first quarter by 13%, compared to the first quarter of 2019. At the same time, the drive for self-care products has boosted ancillary fragrance products like candles and home diffusers. Average daily perfume sales online have increased by 77%, but this is likely due to the transfer of in-store shopping to e-commerce, as well as Mother’s Day sales.

— Read more in Fragrance brands accelerate digital to address shifts in customer behavior at Glossy.

But it's not all sunny: Perfume founders like Julian Bedel of Fueguia 1833 admit that the online uptick hasn't made up for the loss in brick-and-mortar sales, and worse, ingredient scarcity may threaten future stock. "Bergamot, neroli, and iris are all March and April crops; we have [had] many communities not able to harvest crops due to transport disruptions or quarantine restrictions," Bedel says.

— Read more in How COVID-19 Has Changed the Fragrance Industry — at Least for Now at Allure.

Will roses get harvested in Bulgaria this summer? What about mint, lavender, vetiver and orange flower growing in other parts of the world?

Such are questions being pondered by fragrance suppliers today as the coronavirus pandemic threatens to impact the culling and transport of key perfume ingredients in the months to come.

But the overriding question is when demand for prestige perfume, highly dependent on travel retail, might rebound.

— Read more at Fragrance Suppliers Look to the Future at Women's Wear Daily.