Luxury Perfumes Market | Know the Companies List Could Potentially Benefit or Loose out From the Impact of COVID-19

The demand for luxury perfumes is anticipated to witness a steady demand during the forecast period on account of rising brand presence in emerging economies. Increasing purchasing power of consumers, strengthening economic condition of the emerging economies and increasing penchant towards luxurious products are some of the key factors driving growth of the luxury perfumes market.

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High price of luxury perfumes and wide availability of mass perfumes are some of the key factors restraining growth of the market. According to Coherent Market Insights, the global perfume industry recorded revenue of US$ 25.33 billion in 2015, out of which luxury perfumes accounted for around 40% in the same year.

Luxury Perfumes Market Taxonomy

Based on distribution channel, the global market is segmented into:

Hypermarket
Supermarket
Specialty Stores
Online Channel
Others

Based on end user, the global market is segmented into:

Male
Female
Unisex

Based on pricing, the global market is segmented into

US$ 25 - US$ 50
US$ 51 - US$ 100
US$ 101 - US$ 150
Above US$ 150

Based on capacity, the global market is segmented into:

20 ml
50 ml
100 ml
150 ml
Above 150 ml

The demand for luxury perfumes in the online segment is witnessing a significant growth at present and the same is expected to surge further during the forecast period. Consumer inclination towards online purchases, rapid emergence of several e-commerce companies coupled with aggressive marketing and promotional activities are some of the factors responsible for the significant growth of the online segment. Supermarkets accounted for the dominant share in 2016 and is expected to lose demand during the forecast period due to shift in consumer preference towards online purchases.

Key Players in the Luxury Perfumes Market

Some of the major companies operating in the luxury perfumes market include the Estee Lauder Companies Inc., Chanel Inc., Hermes Europe GmbH, Ralf Lauren Corp, Kering S.A., Gianni Versace S.p.A., Christian Dior S.A., eau de, Tom Ford, Prada S.p.A, and Moet Hennessy Louis Vuitton S.A. (LVMH).

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Luxury Perfumes Market Key Developments:

In August 2016, Prada S.p.A, announced to launch two new fragrances, La Femme Prada and L'Homme Prada. These are company’s first corresponding fragrances for women and men, respectively. La Femme Prada has floral fragrance whereas L'Homme Prada has amber and Iris based fragrance.

In May 2018, Chanel Inc. announced that company is focused on developing three new fragrances, ‘Paris-Deauville’, ‘Paris-Biarritz’ and ‘Paris-Venice’ for which a new bottle has been designed which can be easily put into a pocket of the jacket. The bottles will also be fitted with effective sprays which can spread the scent more wide and far.
In August 2018, Christian Dior launched a new women’s fragrance, Joy de Dior. This new perfume will be available in three sizes - 30, 50 and 90 ml - with retail prices starting from about US$ 76.96.

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This release was published on openPR.