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the rise of international fragrance brands stems from their profound history and resource accumulation, which has put pressure on chinese fragrance brands. kering group's acquisition of british salon fragrance brand creed is an example of the importance that luxury giants place on fragrances. richemont group is also actively developing the perfume market, setting up a high-end perfume and beauty department, and has begun to withdraw its willingness to authorize some perfumes. three global luxury goods giants, lvmh, kering and richemont, have established independent beauty and fragrance departments and have publicly expressed their willingness to consider withdrawing some fragrance authorizations.
in the chinese fragrance market, international brands are betting heavily. chinese consumers have not yet developed the habit of perfume consumption. the use of perfume is mainly concentrated in grand occasions, such as formal dates, rather than in daily life. therefore, the development potential of china's perfume market is still limited. the chinese home fragrance market shows great prospects, bringing new opportunities to fragrance brands.
from the perspective of industry development, the perfume market is close to the "ceiling". with the emphasis on perfume by luxury goods giants and the rise of international perfume brands, domestic perfume brands are facing greater challenges. they need to continuously innovate products and promotions with the support of resources and funds to stand out in the fiercely competitive market.
