Fragrances in Italy

PROSPECTS

Luxury fragrances set to drive growth

Fragrances will continue to benefit from the appeal of premium designers’ fragrances in Italy, which account for the bulk of retail value sales. Designers’ fragrances are perceived as accessible luxury because of their relatively lower prices compared to the apparel and footwear by the correspondent brands.

Premium fragrances remain a popular gift

Premium fragrances remain very popular gift options in Italy. In order to provide a brand with a luxury positioning, manufacturers invest heavily in advertising campaigns all year round and especially before Christmas, when fragrance sales are most concentrated.

The natural trend has yet to impact fragrances

The health and wellness trend is impacting most beauty and personal care categories in Italy. Nonetheless, this trend’s impact on fragrances is still quite limited, mainly because of the dominance of designers’ fragrances in the Italian market.

COMPETITIVE LANDSCAPE

Coty, L'Oréal and Christian Dior compete closely with multiple brands

Coty Italia, a player in both mass and premium fragrances, maintained a slight lead in fragrances overall in 2018, followed closely by premium players L'Oréal Italiana Saipo and Parfums Christian Dior; all three players offer several brands and they all competed narrowly in 2018. Christian Dior recorded healthy value sales growth in 2018 thanks to the positive performance of Dior and Acqua di Parma fragrances, with Miss Dior showing the highest growth.

Millennials pose interesting challenges

How younger generations of consumers approach fragrances in Italy is quite different from taken by Generation X and baby boomers. The difference is especially strong if we consider Millennial women, who tend to like newness, to experiment and to stay up to date with fashion trends.

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