Told ya. Back in March I wrote about the decline in popularity of celebrity fragrances. How they market themselves and their fragrance could steer the proverbial boat around. Read my post about The Mystery of Celebrity Fragrance Marketing to see what I mean.
It used to be that all a perfume-maker had to do to have a hit was line up a top celebrity like Justin Bieber or Lada Gaga and slap their name on a fragrance.
But times have changed, and Americans are increasingly turning up their noses at celebrity fragrances, inflicting a whole lotta pain on major companies such as Elizabeth Arden, [fortune-stock symbol=”RDEN”] maker of Britney Spears and Justin Bieber fragrances, and Coty [fortune-stock symbol=”COTY”], the name behind Beyoncé and Gaga’s perfumes, quarter after quarter.
Arden on Thursday laid much of the blame for the 18% decline in sales of non-Arden branded products last quarter on “continued declines in celebrity fragrances,” a trend the New York-based parfumerie expects will persist. Similarly, Coty, the second biggest perfume-maker in the world after L’Oreal, reported comparable sales were flat last quarter, continuing a trend of lackluster results.
While Coty did not call out…
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