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Market Beat and niche fragrance brands like In addition to niche and Creed and Jo Malone helped jewelry brands experiencing to take this segment of the the largest dollar growth, they Men’s Changing Beauty Habits recent years of economic fragrance category to double- generate sales at one of the As the beauty industry enters instability, having increased its digit growth in the first nine highest average price points in the pre-holiday season with global revenues by an average months of the year. the prestige fragrance market. timid expectations for the of 6% per annum since 2006, “The fragrance brands that While the average price in sales performance of the last to reach close to $33billion in are being sold in more selective women’s and men’s for these quarter, all eyes are on those 2011. distribution are experiencing fragrances are about $70, vibrant categories which explosive growth,” said Karen selections in this space may be have generated momentum The U.S. Fragrance Industry Grant, VP & Senior Global in excess of $350 and leading in the past year, according to Market research company The Industry Analyst, The NPD brands are often in the $200 Irina Barbalova, Global Head NPD Group, Inc. released Group. “We’ve seen this trend range. of Beauty & Personal Care results on the U.S. fragrance with high-end designer brands “It is quite a compelling Research at Euromonitor industry. In total, the prestige like Tom Ford and Jimmy Choo story that despite the economic International. Alongside star fragrance industry showed and this is also evident today uncertainties that prevail, we performers such as nail polish robust sales of $1.6 billion in with jewelry and niche fragrance continue to see sizable pockets and, unsurprisingly, anti-agers, U.S. department stores year-to- brands,” Grant continued, of growth in prestige fragrance. men’s grooming has once date (Jan. to Sept. 2012), with “Even though niche and jewelry And, when one considers the again come to the spotlight men’s fragrance sales growing brands make up only nine price, these fragrances are and seen a flurry of activity slightly faster than women’s. percent of the total prestige often treasures and truly an both in terms of increased Designer fragrances, which fragrance market they are investment,” said Grant. “Yet, marketing and advertising accounts for nearly three creating a new dynamic in the if we were to compare the efforts, as well as many brands quarters of the total market, larger fragrance arena. They are scope of the premium market in expanding their product ranges grew the same rate of the growing faster than any other countries like France, the U.S. with more targeted offerings. overall category performance, type of fragrance in the prestige still has significant opportunity Seemingly recession-proof, while jewelry and niche prestige space and their combined sales to expand sales further in the male grooming category fragrances almost tripled. are actually more than double this frontier. Consumers are has demonstrated a consistent Jewelry fragrance brands like the size of prestige celebrity continuing to invest where they performance throughout the Boucheron, Bulgari and Cartier fragrances.” see the value.” 44 Spray December 2012


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