, Columnists
Millennials Don’t Want to Smell Like Celebs Anymore
The perfume industry has lagged behind skincare and cosmetics. To catch up, the mass market has to learn the tricks of the luxury trade.
The next big thing in beauty won’t smell cheap.
Photographer: Sarah Blesener/BloombergThis article is for subscribers only.
Buying a Britney Spears perfume gift set this Christmas? Didn’t think so.
That’s a problem for the mass fragrance market. Mid-priced ranges, including those branded with pop stars and actresses, are falling out of fashion in many developed markets. In contrast, luxury and personalized products are growing quickly. If they are to reinvigorate sluggish demand, companies such as Revlon and Coty Inc., which have mid-market brands in their portfolios, will also need to find ways for affordable scents to smell a little more expensive.