BRIC markets to drive super premium fragrance sales: Euromonitor
Super premium fragrance sales in the UK totaled $340mn (€250mn) in 2009, according to the market research company, which anticipates that the BRIC markets and Saudi Arabia will account for five of the ten biggest growth markets for super premium fragrances to 2015.
According to Irina Barbalova, head of beauty and personal care research at Euromonitor International, the ability to make products stand out in a crowded market remains the biggest challenge for fragrance brands today.
Packaging and positioning more important than scent
With respect to super premium fragrance brands, she said, packaging and positioning are more important than the scent itself. Euromonitor International underlines that it is these aspects on which brands need to focus their emerging market investments over the period to 2015.
It was noted that cash-rich consumers from emerging markets are attracted to brands that reflect their social status, and Barbalova expects fragrance houses to focus on creating greater authenticity and uniqueness through limited editions, artisanal scents or standalone brands.
Euromonitor International highlighted Clive Christian No. 1 and Armani Prive La Femme Bleue as examples of super premium fragrances that focus on packaging and positioning.
Just 1,000 bottles of Giorgio Armani’s recently launched Armani Prive La Femme Bleue fragrance were produced, and Euromonitor International suggested that the exclusivity of the product could boost Armani fragrances in general as consumer loyalty often lies with a brand rather than a particular scent.
The limited edition Clive Christian No. 1 costs around US$200,000 for 30ml and is the world’s most expensive fragrance. The main contributor to its price tag is the packaging, with a bottle made from Baccarat handmade crystal featuring an 18-carat gold collar inset with a 5-carat white diamond.