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Artisan Perfumes Driving Market Growth, Analysts Say

September 30, 2016: 12:00 AM EST
Sales of niche and artisanal fragrances grew 22 percent in 2015, compared with the previous year, according to NPD Group. Data revealed sales of the perfumes, which sometimes come in unconventional varieties, are driven by millennials who do not want mass-market perfumes and celebrity-driven scents. Also driving growth and competition in the market is the increase in merger deals, including Revlon Inc.’s acquisition of Elizabeth Arden Inc. and Coty Inc.’s purchase of Procter & Gamble Co.’s 41 beauty brands. Premium scents have driven market growth, with sales of artisanal products and premium fragrances forecast to grow 18 percent from its current $6.6 billion by 2020, according to Euromonitor International.
Stephanie Hoi-Nga Wong, "Perfume Shoppers Swap Celebrities for Niche Scents Like Sea Salt", Bloomberg Pursuits, September 30, 2016, © Bloomberg L.P.
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