Luxury Brands Start Playing The Idea Of Perfume.
As China accounts for 1/3 of the world's luxury goods market, the slowdown in market sales since the second half of last year has made the performance of the major luxury brands a bit ugly. Although the performance is still growing, even the best looking Prada is slowing down. It is urgent to open up new market growth points. This time, they turn their attention to perfume.
Statistics show that the world Perfume Souk It is expected to reach US $45 billion 600 million in 2018, mainly driven by the consumption power and the launch of innovative products in emerging markets. Consumers' urbanization trend, higher consumption tendency and high personal image have benefited the market.
As an entry-level product, perfume has replaced handbags as a stepping stone to open luxury doors. Taking a look at internationally renowned first-line brands, perfume has almost appeared in all the luxury brands that are familiar with each other. In the luxury product lines, perfume usually contributes to a considerable profit share. Therefore, after the opening of brand awareness, increasing the profits of perfume category will become a magic weapon for a large number of luxury brands to significantly improve their performance.
Act as Prada The slowdown in the Chinese market, which the group most relies on, is a problem that Prada group has to face. To promote sales through perfume and beauty products is a new strategy. At the beginning of this month, WWD quoted market sources as saying that Prada's brand Miu Miu may cooperate with Coty, the world's largest perfume company, to develop perfume and beauty products.
Another luxury giant who is also performing well is also plotting the layout of the perfume market. The British fashion Brand Company Angela Ahrendts, chief executive of Ahrendts, said in an interview on October 7th that the future beauty and perfume business will be the focus of beauboli. Bobury announced in July that it had bought the agent for perfume and beauty products from the Department, and that the Department has already recovered its internal management. Angela Ahrendts says perfume currently accounts for about 95% of the sector's income.
In August of this year, Boboli launched its first self operated perfume Burberry Brit Rhythm in the US high-end department store Bloomingdale 's'. It was then extended to the main sales partners of the group, such as Harold store and Searl rich department store in the United Kingdom, Messi department store in the United States, Paris spring department store, Hongkong Harvey Nichols and even Crawford, and the world's Boboli store. Angela Ahrendts says Brit Rhythm is the largest and most widely released men's fragrance campaign in brand history.
Italy jewelry brand Pomellato (Bowman Lando) also launched the first perfume series called "Nudo" this year. The "Nudo" series of Nudo Amber, Nudo Blue and Nudo Rose three fragrances are specially designed for consumer groups in the Middle East, the United States, Germany, the Mediterranean region and the Asian market. They will be listed in Western Europe and the Middle East market in September and October, and will be extended to Eastern Europe, Russia and Asia in 2014.
Of course, the old perfume giants continue to innovate. Every year, there are at least 300 new releases in the perfume market. Those classic perfumes will still be tested over time. High grade perfume has been driving the development of the whole market: in 2003, the turnover of Chanel beauty products has reached 1 billion 600 million US dollars, and according to foreign media reports, the MOET & CHANDON perfume MOET & CHANDON Hennessy (LVMH) perfume business has accounted for over 50% of the sales in its cosmetics business.
Luxury brands are also accelerating their innovation. Taking Dior as an example, it launched 12 fragrances in the first 40 years, but in the 20 years after Bernard Arnott's acquisition of Dior, 30 brands of perfume were released. Whether it's fashion, jewelry or leather goods or accessories, a variety of perfumes have become an integral part of today's luxury brands.
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