Puig’s fragrance division saw a drop from 40 per cent growth in 2022 to 17 per cent in 2023, then down to 13.6 per cent in 2024, on a reported basis. Estée Lauder Companies reported a sharp decline in fragrance growth: 30 per cent in 2022, flatlining in 2023 and up 1 per cent in 2024. Coty fared slightly better, with reported growth declining from 18 per cent in 2022 to “low teens” in 2023, before a modest rebound to “mid teens” in 2024. [...] “After years of heightened investment, a slowdown was inevitable,” says [Aishwarya] Rajpara.

— Read more in How beauty should prepare for a fragrance slowdown at Vogue Business.

The US prestige beauty market’s value reached US$33.9bn in 2024.

This was fueled by the fragrance category, which saw sales increase by 12% during the year, according to the data from consumer insights firm Circana.

Sales of prestige fragrances in department and beauty speciality retailers accounted for 28% of total prestige beauty income.

— Read more in US prestige beauty tops $33 billion in 2024 as fragrance drives sales at Cosmetics Business.

The number-one spot, perhaps unsurprisingly, went to Sol de Janeiro, which was previously reported by WWD to be on track to exceed $650 million in sales for 2023. The brand is widely credited for spurring the fragrance mist boom, and has also sparked a number of dupe and look-alike products on the market.

— Read more in Who Were the Buzziest Fragrance Brands on Social Media in 2024? at Women's Wear Daily via Yahoo!Life.