The exclusive license agreement was valid until the end of 2026, with the possibility of extending five years, and would see Moncle, best-known for its luxe skiwear, venture into fragrances for the first time with the launch of a line scheduled for the first quarter of 2022.
All perfumes and fragrance-related products manufactured under the agreement with Interparfums would be distributed globally across a range of locations, including Moncler-own stores, department and speciality stores and duty-free shops.
Translating fashion ‘uniqueness’ into fragrance
Remo Ruffini, chairman and CEO of Moncler SpA, said Interparfums’ “renowned expertise and creativity” made it the ideal partner for the fashion brand’s move into fragrances, as the company would ensure Moncler’s “DNA and unique identity” translated into this new category.
Ruffini said the launch into fragrances was part of a wider “selective brand extension strategy” that aimed to further enrich the brand experience for clients.
Philippe Benacin, chairman and CEO of Interparfums SA, said landing a license agreement with Moncler was a “great achievement” for Interparfums, particularly given how “distinctive” the Italian fashion brand’s achievements had been and how well-associated it was with “authenticity, quality and excellence”.
The luxury blur – fashion, fragrance and cosmetics
The blur between fashion, fragrance and cosmetics was long-established, with most major fashion houses operating in perfumes, fragrance products or cosmetics. And many were actively expanding capacity in these categories.
In December, last year, Italian fashion house Prada partnered with international beauty major L’Oréal to develop its first luxury beauty line, moving Prada beyond its “well established fragrance identity”, its CEO said.
British fashion house founder Victoria Beckham also expanded into beauty last year, with the launch of her self-titled luxury, clean and sustainable beauty line she co-developed with ex-Estée Lauder executive Sarah Creal. Lady Gaga, famed for her music and fashion, made a similar move, launching Haus Laboratories on Amazon – a cosmetics brand offering cruelty-free, vegan and paraben-free colour cosmetics.
In March, this year, French fragrance and fashion major Hermès ventured into colour cosmetics for the first time with the launch of its line of Rouge Hermès lipsticks, following five years of research and development. A couple of months prior to this, the infamous fashion photography duo Mert and Marcus also moved into coloured cosmetics through a Lancôme tie-up for a collaborative ‘After Dark Collection’.
Concerns over the future of luxury?
In 2019, the global luxury goods market totted up sales in excess of €910bn in 2019 and was set to grow 3% in 2020, according to Euromonitor International. However, the ongoing coronavirus (COVID-19) pandemic had now changed that outlook, with 18% declines forecast this year instead.
Switzerland, Germany, Italy and France were luxury markets set to be particularly hard hit by the COVID-19 crisis, according to Fflur Robers, head of luxury goods research at Euromonitor International.