To raise prices, you have to take into account each brand’s power...luxury giants like Hermès or Dior can afford any increase. Chanel is selling at €150-160 perfumes that were priced at €110-115 three years ago. Luxury labels are aiming for a more selective clientèle, as they did for leather goods. But other brands cannot aspire to this. There has been an increase in prices and a decrease in volumes, of the order of 6% last year. With inflation, I think there is a psychological threshold issue. For example, with Jimmy Choo, the eau de parfum's recommended retail price is €120. I don’t think it can be pushed up to €170.

— Philippe Benacin of Interparfums on perfume pricing. Read more in Philippe Benacin of Interparfums on Lacoste, a future niche brand and perfume prices at Fashion Network.