But going for more niche trappings also means competing with the true indie brands, whose more unique scents have been taking market share from conglomerate-backed releases. According to March data from Nielsen IQ, indie brands now command 23% of the U.S. fragrance market, versus conglomerates’ 77%. That’s compared to 19% in 2023.

YSL is betting that Muse, with its distinct ink note, can attract a consumer looking for a more daring scent profile.

— Read more in Inside Yves Saint Laurent’s new fragrance strategy at Glossy.