Oversaturated celebrity fragrance market faces decline
The global celebrity fragrance market is facing serious decline as it becomes oversaturated with products following a raft of new licensing deals, according to research by Euromonitor International.
Mass fragrance sales in the UK are expected to decline by £18.1m or 13% by 2011, despite overall growth in the fragrance category set to increase by 10% to £78.6m over the period.
The report – The World Market for Cosmetics and Toiletries – also shows an expected decline in mass fragrances in the US, where celebrity perfumes have previously driven growth in the category, with sales likely to drop 25% over the period.
According to the research, the problem is being driven by the launch of a large number of products that have “inundated” the market in recent year leading to overcrowding.
A Euromonitor International senior industry analyst says: “With so many new releases, manufacturers are running the risk that consumers will become increasingly confused and frustrated by the never-ending choice.”
Coty, the Reckitt Benckiser-owned fragrance and beauty company, recently signed deals with British model Kate Moss and singer Gwen Stefani to develop branded fragrances on behalf of the celebrities while rival Procter & Gamble has signed a partnership with Christina Aguilera.
