Jay-Z Seeks Millions With New Men's Fragrance

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Nov. 29 (Bloomberg) -- Carol Massar reports on celebrity prestige fragrances on Bloomberg Television's "In The Loop." (Source: Bloomberg)

Carol massar is with me on why he has black friday circled on his calendar.

Is teamed up with a fragrance distributor and it is about bringing gold jay-z to market.

This fragrance sounds like a fine wine.

It is a yellow ginger, why card a month, grapefruit, and a hint of blueberry.

It can be yours for about $39 to $70. what is the big deal today on this black friday is that the broader u.s. distribution is coming out.

It is not parlux's first hook up with a celebrate -- a celebrity.

What is the track record when a celebrity puts his or her name on a bottle?

If you look at the latest figures we got from in bt group -- nbd group, they are down about 21% to just over $116 million.

It is a huge market.

This is a small part.

What happened last year is according to -- there was not a blockbuster celebrity product.

This compares with 2011 when you had justin bieber coming out with his debut perfume, sunday.

His branded fragrances are sold by elizabeth arden.

They are the big player in this market.

They work with a lot of different celebrities, britney spears, nicki minaj, and elizabeth taylor.

This fragrance goes back to 1981. they have sold about a billion dollars of her fragrance.

It points out just how competitive this space is.

Those are all superstars.

You cannot underestimate jay-z's star power.

It is a crowded phil -- field.

The numbers do not provide a true read on true sales.

Sales were down about 5.5% to about $222 million.

It is a pretty big market.

You're going to stay with me.

We are going to be speaking with david.

We're speaking on the subject of celebrities and their fragrances.

He covers cosmetics, luxury goods, l'oreal, estee lauder.

Thank you for joining us.

Is jay-z's frame it -- fragrance going to sell?

I think it will.

He has global brand appeal.

When you think about celebrities, they are really global brands.

Do you think it is a natural evolution -- i do think it is a natural evolution for them to extend into other products such as clothing.

We talked about elizabeth taylor.

She is still about a billion dollars worth of her fragrances since about 1991. what gives fragrances staying power?

I think it is about the number of records they produce, the hits that they have on the billboard charts.

I do think that is important.

Also, the frequency of new product launches.

With the likes of a beeper or a taylor swift, they will -- they beiber or a taylor swift, they will have a product launch a year.

There are a ton of celebrities that slap their names on bottles and hope for the best.

Where do you see a stand out?

What is the most successful launch?

When you look at what causes the recent influx in music artists going into fragrances, it started with jennifer lopez, glo.

That was a huge success.

It generated an estimated hundred million dollars in revenue.

That is really what started the huge trend in music artists moving into fragrances.

Two years later, you had britney spears launch her curious fragrance.

We are talking about music

This text has been automatically generated. It may not be 100% accurate.

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