In essence, fragrance is comparable to a fashion accessory or piece of clothing in that it signifies something to the consumer, can be personal, can complete a look, or can even give someone identity.
“Its position as an ‘affordable luxury’ and the intriguing creative process behind its formulation will continue to encourage fashion and high street brands alike to expand in the category,” say the Euromonitor analysts.
Buying into the brand
The relationship between fashion and fragrance has been a factor for quite a while as designer fashion brands use fragrances as an accessible means for consumers to buy into their brand, as well as mass-market brands also using fragrances to add a bit of luxury to their product offering.
We have seen many fashion labels launch their own fragrance, with lingerie market leader Victoria's Secret being an example of a success story as it transferred its ultra-feminine image to its products, and continues to be one of the top 10 fragrance brands in the US, with sales of nearly $200 million in 2012.
Another example is the now-infamous Abercrombie & Fitch stores that have good attention to detail, in having its scent fill the boutiques.
Marketing tool
Tyrimou and Kunde explain that with Generations Y and Z becoming increasingly crucial, fashion is proving to be a useful marketing tool in capturing the attention of these demographics, using LVMH’s Guerlain as an example as it launched La Petit Robe Noir in 2012, targeting a younger demographic by associating itself with the bastion of fashion, the iconic little black dress.
The new Gucci Made to Measure for men is another example of a fashion house using links to clothing to promote their fragrance.
The fragrance references the brand’s bespoke tailoring service which was launched in 2011, and was also fronted by Hollywood actor James Franco.
Whether by using fabric scents in formulations, branding products in tandem with fashion lines or promoting a fragrance ‘wardrobe’ to consumers, Euromonitor expects the fragrance industry to continue to draw inspiration from fashion.