2014-01-22 14:34:03 - Fragrances in Italy - a new market research report on companiesandmarkets.com
LVMH (LVMH MoÃ«t Hennessy Louis Vuitton) brands led the Italy fragrances market with a 12% value share, slightly up from last year. Amongst the GBOs, the Procter & Gamble Co and L´OrÃ©al Groupe followed with value shares of 11% each. These three are the leaders in premium fragrances. Weruska & Joel and Coty lead in mass fragrances. LVMH leads in premium women´s fragrances, Coty leads in premium unisex fragrances and Procter & Gamble leads in premium men´s fragrances. Premium fragrances remain a must for consumers, many of these being also tourists that visit Italy for shopping purposes, willing to buy items that oftentimes are not available in their native countries or are more expensive there.
Following the recommendations published by the
Scientific Committee of Consumer Safety (SCCS) back in July 2012, fragrance manufacturers in Europe are concerned that their perfumes might be altered in terms of odour and development going forward. This might affect formulations and force manufacturers to invest in developing alternative product formulas that guarantee the same result by using different ingredients.
In the years to come, sales of fragrances are expected to be driven by premium products, which are not, however, expected to compensate for the loss in mass products caused by a difficult economic downturn that has forced Italian consumers to give up on non-necessary spending.
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