More and more stars are getting in on the action of coming out with their own signature scents.
In fact, celebrity fragrances are considered as the fastest growing segment of the $2.9 billion perfume industry in a report made by market researcher NPD Group. And it looks like more staid and established brands are beginning to see the money that can be made here. Brands like Chanel and Guerlain are now turning to Hollywood stars to endorse their flagship scents.
The perfume industry has a lot thank for these celebrities. The trend has actually revived the long dormant industry and is also bringing in a whole new customer base from the under 40 demographic who are now visiting fragrance counters in order to get themselves a bottle of their favorite celebrities? scents.
These celebrity scents and celebrity endorsed fragrances now comprise 23 per cent of the top 100 women?s fragrances in the United States for the year 2005. This figure is significantly up by 10 per cent from 2003 figures.
Some of the scents that are scheduled to be debuted in the coming months are from New Yankees Derek Jeter, Hilary Duff, and Mariah Carey.
The first celebrity to really use her status to launch her own fragrance line was Elizabeth Taylor. Up to now, White Diamonds remains a top seller.
This was widely regarded as a fluke in the industry until 2002 when Jennifer Lopez banked on her sizzling career in both movies and music to launch Glow.
But according to some experts, the perfume market may be entering a period of saturation because more and more celebrities are getting in on the action.
Experts say that this trend has grown so much at such a fast rate that it may be inevitable that it will soon hit a breaking point.
Originally posted on August 13, 2006 @ 9:43 am