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Fragrance Foundation's Rochelle Bloom from Luxe Pack Monaco
Posted: November 4, 2010
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Then something happened. But before I continue, I want to inject a disclaimer. Fragrance is perceived differently in Anglo Saxon markets than in Europe and even Asia. The sensibility and subtlety of smell is more highly developed in Europe than in North America. The way fragrance is worn and by who is also quite different, so that when Marc refers to reinfusing the luxe factor, it is North America that has suffered more than anywhere else in the world.
So what has contributed to the decline of an industry from its heyday of the 1970s and ‘80s, and particularly fragrance? Small, entrepreneurial companies became big public companies. With that came more focus on the bottom line and less risk-taking and creative development. The art of perfumery and package design became a past luxury.
Pressure to beat last year’s numbers and meet Wall Street’s expectations increased the number of new fragrances on the market, confusing the consumer.
Mass companies saw a crack in the luxury fragrance market and became more aggressive by raising prices and competing directly for the consumer fragrance dollars. I might add, they did a pretty good job.
As prestige fragrance companies became more aggressive with more introductions, they cut lead times; cut packaging and essential oil costs, and frankly brought out mediocre products.