LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global luxury perfume market report. This research report also lists seven other prominent vendors that are expected to impact the market during the forecast period.
The offline distribution channels include various specialty stores, department stores, as well as hypermarkets and supermarkets. Specialty stores are also called flagship stores, and they are small stores catering to a single retail market. These retail outlets sell a particular range of products and items associated with a genre or category. Specialty stores maintain a considerable stock of the product they are selling.
Competitive vendor landscape
The global luxury perfume market is a highly competitive market due to the presence of several key players. Specialist retailers face challenges from retail giants who operate big stores like hypermarkets and supermarkets because they enjoy economies of scale for the discounts and offers they provide.
“The prevailing competition in the market coupled with upgrades in quality and changes in consumer preferences for perfumes are some of the challenges that the vendors face. To survive and succeed in the competitive environment, it becomes imperative for the vendors to distinguish their products and service offerings through clear and unique value propositions,” says Shikha Kaushik, a lead retail goods and services research analyst from Technavio.
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Top five luxury perfume market vendors
Chanel
Chanel is a privately held French company that is owned by Alain and Gerard Wertheimer. It is present in more than 300 location all across the world. It is a premium fashion brand, which is into the manufacturing of a variety of products that mostly come under luxury or premium ranges.
Estée Lauder
Estée Lauder is an American company, which is into manufacturing and marketing cosmetic products such as skincare, makeup, haircare, and fragrances. It has a wide variety of brands which are diverse and are internationally distributed. In the fiscal year of 2016, Estée Lauder delivered a sale of USD 11.26 billion.
Guccio Gucci
Guccio Gucci is an Italian luxury brand that is into manufacturing products like handbags, apparel, shoes, fragrances, jewelry, watches and many other fashion and beauty products. In the Americas, it is operating in Canada and the US. In Europe, the brand is present in more than 21 countries.
Hermès
Hermès is into high fashion luxury goods. It has a wide variety of products, which includes specialized leather, lifestyle accessories, jewelry, watches, ready-to-wear clothes, home furnishing, and perfumes. It has its presence in the Americas in Brazil, Canada, and the US. In Europe, it has its presence in countries such as Finland, France, and Italy. In APAC, the company operates in Japan, China, and South Korea.
Ralph Lauren
Ralph Lauren, an American fashion designer, is the namesake for the brand, and it is a million-dollar company. It has a wide range of products including clothes, shoes, accessories, as well as fragrances for men, women, girls, boys, and even babies. Ralph Lauren perfumes have very classically designed bottles with a regal finishing touch.
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