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Summary and extracts
1 Market overview
1.1 Definition and presentation
The fragrance market includes all the toiletries intended to be applied to a person in order to obtain a pleasant odor. Perfumeries is the most important facility where these products are distributed, however the product is also sold at large food stores.
The global perfume market has experienced a continuous increase for several years, which is expected to continue in the future. This dynamic is driven on the one hand by the positive performance of the luxury sector, and in particular by global companies such as Chanel, Dior or L'Oréal, and on the other hand by the multiplication of the number of perfume references, offering products adapted to all markets and consumers.
In the US, the market has been growing slowly but steadily over the past years. Females still account for the largest revenue growth, although men are not far behind. Although growth has been strong, E-commerce is strangling many retailers who see their sales shift to online. [ibis] Moreover, the large amount of new product offerings makes differentiation more difficult, and retailers must be more selective with which products to sell.
The market is fragmented with around 23,000 retailers registered. [ibis] Nevertheless, perfume brands such as Avon Products Inc., Natura Cosmticos, Chanel; Coty, LVMH; L’Oreal, Estee Lauder, and Elizabeth Arden dominate consumer preferences.
Several recent trends are affecting the market; for example, the development of niche fragrances, original products and more "premium" than mass-market perfumes, customized solutions of perfumes and, as in many sectors, the multiplication of organic and responsible approaches.
List of charts presented in this market study
- The structure of the global cosmetics market
- Marché mondial de la parfumerie
- Marché américain de la parfumerie
- Importations et exportations américaines de parfums et eaux de toilette
- Bénéficiaires majeurs des importations américaines de parfums et eaux de toilette
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Latest news
Sephora downsizes in China after leaving South Korea - 22/08/2024
- - Sephora is shedding "just under 3%" of its workforce in China, or around 100 jobs.
- - Sephora has around 400 stores in Asia, including 300 in China.
- - Founded in 1968 and acquired by LVMH in 1997, Sephora set up in Beijing in 2005.
- - Sephora is the number one retailer of high-end beauty products in the United States.
- - The company is targeting sales of "20 billion euros".
- - Sephora's operations in China would have generated combined losses over 2022 and 2023 of $46 million, according to annual reports from Shanghai Jahwa United Co. Ltd. which holds 19% of its business on the mainland.
- - Sephora recently reduced its presence in South Korea and withdrew from Taiwan.
- - The brand is a significant contributor to LVMH sales, second only to Louis Vuitton (over 20 billion in sales).
- - Sephora has estimated sales of over $12 billion, according to Bernstein.
Beauty: Estée Lauder cautious about 2024 - 02/05/2024
- - Acquisition of Tom Ford for $2.3 billion
- - Double-digit growth in Clinique sales, across all geographic regions
Sephora to rapidly increase sales from 12 to 20 billion euros - 23/10/2023
- Sephora is the world leader in selective perfumery.
- LVMH has owned Sephora since 1997.
- The Sephora store on the Champs Elysées welcomes 10,000 visitors a day.
- The global beauty market grew by 6% last year to reach 250 billion euros.
- Sephora has forecast 17% growth by 2022.
- The brand has 2,700 stores.
- By 2022, according to analysts, Sephora has almost reached 12 billion euros in sales.
Beauty: how Sephora is expanding in the United States - 07/10/2023
- America is its first market
- The French group opened its first store there twenty-five years ago
- Today, it has 658 directly-operated stores on the American market, including 22 in New York
- Sephora is present in 35 markets with 2,700 stores
- A $430 billion industry according to McKinsey
- The United States will consolidate its position as the world's leading beauty market, growing from $70 billion in 2022 to around $100 billion in 2027 (McKinsey).
- The brand contributes 20% of LVMH sales and 12% of the Ebit of the number one in luxury goods.
- sephora is America's leading selective retailer.
- American retailer Kohl's, which has stores in 29 states, partnered with Sephora in 2020, and they share 862 "Sephora Kohl's".
Sephora and Zalando end their partnership - 09/09/2023
- The partnership between Sephora and Zalando began in Germany in the fourth quarter of 2021.
- The partnership was extended to Zalando's other European markets in 2022, including Italy
- Two years after the start of the partnership, the collaboration comes to an end.
- Sephora is a subsidiary of LVMH.
- Sephora's aim in 2021 was to compete with Douglas (Nocibé in France), which has a greater presence in Europe.
Estée Lauder unable to keep pace with L'Oréal - 20/08/2023
- Estée Lauder saw sales fall by 10% to $15.9 billion in its offbeat 2022/2023 full year
- Estée Lauder acquired the Tom Ford brand for $2.3 billion.
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