‘Accelerating at a dizzying pace’: Coty’s fragrance business is growing twice as fast as the Chinese market

'Accelerating at a dizzying pace': Coty's fragrance business is growing twice as fast as the Chinese market

The fragrance market in China is witnessing remarkable growth, driven by factors such as increasing disposable income, changing consumer preferences, and growing awareness and appreciation for fragrances.

“It’s very interesting to see how the market is developing so quickly, I have to say, specifically in the fragrance category… Maybe a year ago, we shared with you that we were starting to see the Chinese being very interested in this. The category and this is accelerating at an incredible pace, even their tastes are accelerating.” . said Coty CEO Sue Nappi.

She pointed out that the perfume category in China is growing by 6% and is more than doubling it.

Coty owns and operates several iconic fragrance brands, including Hugo Boss, Chloe, Calvin Klein, Marc Jacobs, and Gucci.

Nappi pointed to the recent launch of Burberry Goddess, a delicious vanilla fragrance and the first refillable option.

“We launched Burberry Goddess in this country a little later than the rest, because we thought this innovation smelled really bold, and the reception was great. The line is already number six at Sephora, a ranking we have never achieved in this country with any of our fragrances.

She added: “Burberry Goddess is just starting out in this country, and we think it will be a game-changer.”

Aside from Burberry Goddess, the company also sees great opportunities to tap into China’s niche fragrance market.

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