It helps them make a choice

Posted by Robin on 16 June 2023 Leave a Comment

But it is growing fast and the young generation is very attracted to this category. For Gen Z, fragrance has become a beauty must, which it wasn’t for their parents, and they particularly like premium fragrances, both because they are premium, but also because these collections are a bit more descriptive about olfaction. Take Maison Margiela, which is very popular in China. The products are describing memories, and they are very descriptive about what it smells like — A Lazy Sunday Morning smells of white linen and flowers. For consumers who are still early in their discovery of the fragrance market, it helps them make a choice.

— Nicolas Hieronimus of L’Oréal, talks about the Chinese market after being inducted into the Fragrance Foundation Hall of Fame yesterday. Read more in L’Oréal’s Nicolas Hieronimus on Hitting the High Notes at Women's Wear Daily via Yahoo! Life.

This boom

Posted by Robin on 29 May 2023 8 Comments

And in fact, what consumers are doing, [they're] spraying more, especially Gen Z, who use fragrances not [only] on their skins, they use fragrances on their clothes and outfits. So they spray much more, and it's shortening the lifespan of the usage of the product. So that's what explains, in fact, this boom, both in volume and in value behind this market.

— Read more in It's not just beauty. Fragrance is ‘booming in the US,’ Coty CEO says at Yahoo! Finance.

75%

Posted by Robin on 12 May 2023 2 Comments

Estee Lauder's (EL) stock tumbled on Wednesday as the company lowered its expectations for sales in 2023.

Adjusted earnings per share for the company's fiscal third quarter fell 75% from the same period last year while net sales lagged 12%. Slower-than-expected Asia travel recovery weighed on growth, according to Estee Lauder management.

[...] The sales declines contrast the results of others operating in Asia and the makeup industry as a whole.

— (With apologies, this is last week's news.) Read more in Estee Lauder stock tanks as company cuts sales outlook at Yahoo Finance. More recent-ish sales news: Coty's fragrances sweeten profit forecast after strong beat at Reuters, LVMH revenues top €21 billion in Q1 2023 at Cosmetics Business, Latest quarterly earnings paint a cautious picture for the beauty industry at Glossy, Net Sales Reach Record High of $312 Million for Inter Parfums, Inc. in Q1 2023 at Happi.

Fragrance graveyard

Posted by Robin on 14 April 2023 Leave a Comment

While prestige fragrance has been witnessing an unprecedented boom recently, the most recent transformation has been happening at a mass level. For example, in the UK fragrance market, 63% of sales in 2023 will be non-luxury. In the past often dismissed as a “fragrance graveyard” with limited testing opportunities, bottles locked away behind a counter or on transparent shelves, mass fragrance sales still constitute 40% of market sales according to IMARC.

— Read more in The New Fragrance Consumer And Emerging Opportunity At Mass at BeautyMatter.

To expand in the US

Posted by Robin on 4 January 2023 2 Comments

IMarc Group estimates the North American (including the US and Canada) perfume market to be worth $6.2 billion as of 2021, reaching $7.5 billion by 2027. In contrast, the UK market is yet to crack the $2 billion mark as of 2022, per market intelligence firm Mintel. To expand in the US, the brand is betting on more out-of-home campaigns, such as the winter 2022 Let It Snow campaign, which has seen a Morris Minor car touring across northern American cities.

— Read more in Inside Jo Malone London’s North America push at Vogue Business.

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Now Smell This

a blog about perfume

It helps them make a choice

This boom

75%

Fragrance graveyard

To expand in the US