Luxury fragrance sales drive prestige beauty growth

Article by Rachel Wolff  | Oct 30, 2024
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Luxury fragrance sales drive prestige beauty growth
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Topics
Personal Care & Beauty
Luxury Goods
Retail Sales
Worldwide

The insight: Demand for fragrances is boosting prestige beauty sales.

  • Spanish beauty company Puig—owner of Jean Paul Gaultier, Nina Ricci, and Byredo—grew sales by 11.1% year over year (YoY) in its fragrance and fashion division in Q3. That’s a faster rate of growth compared with both its Q2 performance and the broader premium beauty market.
  • Fragrance dollar sales increased by 12% YoY in the first six months of 2024, per Circana, making it the fastest-growing prestige beauty category.