Fragrances have always been a popular item. From the dawn of time, women and men have been perfuming themselves in some form or another. From iPerfumer, created by Givaudan Fragrances, a new downloadable app available at the Apple App Store that helps consumers shop for fragrances online; to modified certification requirements put out by the Natural Products Association (NPA), requiring all-natural fragrances in finished natural products to receive certification in its Natural Standard for Personal Care Products program starting in September;and reports questioning the safety of fragrance ingredients, i.e., The Campaign for Safe Cosmetics’ (CSC) report "Not So Sexy—The Health Risks of Secret Chemicals in Fragrance”, the fragrance industry is experiencing a lot changes.
According to The NPD Group Inc., a market research company, in 2009 the fragrance industry saw a decline in total sales, dropping to $2.48 billion, a 10-percent decrease in both men’s and women’s fragrances. At the beginning of the year, Datamonitor also reported a dip in fragrance sales. Due to the burden the recession put on consumers’ pocketbooks and a lack of spending, Datamonitor reported, while the overall personal care market witnessed gains in North America, the fragrances sector declined between the years 2003 to 2008.
But despite the overall decline in fragrance sales, New York-based Inter Parfums has landed a couple lusty perfume accounts with sought-after names like Betsey Johnson and Burberry. Most recently, they acquired the rights to develop (as well as distribute) several products, including cosmetics, fragrances and personal care products for Betsey Johnson, which is good until December 20105.The first fragrance is slated to be released next month.
Obviously, fragrances aren’t going anywhere, regardless of tight budgets and recent dips in sales. There will always be a need for new, fresh fragrances and as the industry evolves more opportunities will come about.