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Unfortunately, the P&F article is not written in a very readable, straight forward manner, and, more importantly, they bury the lede, so I’ll turn your attention to a more useful source which makes it clear that The global perfume market has been forecast to reach a value of approximately US.6 billion by 2018, driven primarily by growth expected in the underpenetrated emerging markets and innovative product launches.
The market is set to benefit from the growing trend towards consumer urbanisation, higher spending propensity and the heightened importance on personal appearance and grooming.
The demand for celebrity inspired scents shows no signs of abating, thanks to the increasing number of celebrity fragrances hovering in the market. Consumers have a unique cultural attitude to “fragrance” and an uncritical concept of possessing a certain kind of identity through wearing fragrance.
Currently on the global radar are low penetration markets such as China, and Japan, where huge untapped opportunities are the focus of large international players.
Either way, I suspect that fragrances constitute only a microscopic portion of their revenues, even if they do own YSL fragrances and Armani perfumes.
According to a New York Times report, LVMH did not do so well in 2013, but, again, it is impossible to find specific details on perfume sales or revenue.
Then, I’ll look at the international picture: from a perfume from a Grand Mufti in the Middle East (yes, I’m being serious), to Valentine’s day in the U.
Perfumer & Flavorist cites a 2013 study by Global Industry Analysts which says the industry will “reach about .6 BILLION dollars in 2018,” a mere 4 years time!From being non-essential and frivolous, perfumes have emerged as essentials, owing to the increasing trend of appearance and personal care becoming part of pride, self reliance, and confidence.No longer considered as an extravagant grooming accessory, perfumes have metamorphosed into a “feel good” factor, which complements the consumer’s need for expressing individuality, and personal style.To compensate, LVMH has increased its investment in smaller brands like Fendi, Céline and Berluti.Faced with a protracted economic downturn in Europe and slowing growth in important emerging markets like China, Louis Vuitton, like its rival, Gucci, has sought to jump-start sales by repositioning itself even further upmarket, pursuing superrich clients, rather than the merely rich.
Also, please note, that all of the articles focus on the more established and significantly larger commercial fragrance market, not the niche one.