Top 5 sellers in the luxury perfume market from 2017 to 2021 | Technavio
LONDON–(COMMERCIAL THREAD) –Technavio
announced the top five suppliers in their recent global luxury perfume market report. This research report also lists seven other top vendors expected to impact the market during the forecast period.
Offline distribution channels include various specialty stores, department stores, as well as hypermarkets and supermarkets. Specialty stores are also called flagship stores and they are small stores for a single retail market. These outlets sell a particular range of products and items associated with a genre or category. Specialty stores maintain a considerable stock of the product they sell.
Competitive landscape of suppliers
The global luxury perfume market is a highly competitive market due to the presence of several key players. Specialty retailers face the challenges of retail giants that operate department stores like hypermarkets and supermarkets as they benefit from economies of scale for the discounts and deals they offer.
“The prevailing competition in the market, coupled with improvements in quality and changes in consumer preferences for fragrances, are some of the challenges that sellers face. To survive and succeed in the competitive environment, it becomes imperative for suppliers to distinguish their product and service offerings through clear and unique value propositions ”, Says Shikha Kaushik, Senior Retail Goods and Services Research Analyst at Technavio.
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The top five sellers in the luxury perfume market
Chanel is a private French company owned by Alain and Gérard Wertheimer. It is present in more than 300 sites around the world. It is a high-end fashion brand, which manufactures a variety of products that mainly fall under the luxury or high-end ranges.
Estée Lauder is an American company specializing in the manufacture and marketing of cosmetic products such as skin care, makeup, hair care and perfumes. It has a wide variety of brands which are diverse and are distributed internationally. In fiscal 2016, Estée Lauder achieved a sale of $ 11.26 billion.
Guccio Gucci is an Italian luxury brand that manufactures products such as handbags, clothing, shoes, perfumes, jewelry, watches and many other fashion and beauty products. In the Americas, it operates in Canada and the United States. In Europe, the brand is present in more than 21 countries.
Hermès is in high fashion luxury goods. It offers a wide variety of products, including specialty leather, lifestyle accessories, jewelry, watches, ready-to-wear clothing, home furnishings and perfumes. It is present in the Americas in Brazil, Canada and the United States. In Europe, it is present in countries such as Finland, France and Italy. In APAC, the company operates in Japan, China and South Korea.
Ralph Lauren, an American fashion designer, is the namesake of the brand, and it’s a million dollar business. It offers a wide range of products, including clothing, shoes, accessories, as well as perfumes for men, women, girls, boys and even babies. Ralph Lauren perfumes have very classically designed bottles with a royal finishing touch.
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