Industry news

1. Global consulting firm Kearney and LUXASIA, a leading omnichannel brand builder in Asia Pacific, recently released a white paper entitled "Unlocking the High Growth of Asia's Luxury Beauty Landscape", highlighting the opportunities and challenges as well as solutions for Asian luxury brands. According to the report, Southeast Asia (SEA) and India are expected to be the next "gold rush" in the luxury beauty sector, with a market potential of $7.6 billion by 2026 and an expected compound annual growth rate of 11% from 2021 to 2031.

2. MAURER & WIRTZ GmbH & Co. KG and Tanner SA renew their partnership. Since October 1, 2023, MFC &Wirtz has commissioned the sales company Tanner SA to distribute the entire brand portfolio in Switzerland and Liechtenstein. Tanner SA has been responsible for the distribution of lifestyle and premium brands such as 4711, Tabac, Betty Barclay, S.Liver, AcquaColonia and Baldessarini Fragrances in Switzerland for many years.

3. Italian Beauty distribution group Beauty and Luxury signed an exclusive distribution agreement in Italy with Borntostandout, South Korea's first niche perfume brand, which was born in April 2022.

4.Launchmetrics, a barometer dedicated to luxury, fashion and beauty, has revealed the top 10 luxury fragrance brands that generated the strongest Media impact this summer: Media lmpact Value™(MIV®). The Dior brand led the way, with MIV@ sales of $13.1 million, followed by Lancome ($9.57 million) and Chanel ($911 million). Guerlain ($8.05 million) and Jo Malone ($7.07 million) followed in fourth and fifth place, respectively. Brands ranked 6 to 10 generated MIV® ranging from $5.53 million to $4.18 million, in order :Yves Saint Laurent, Tom Ford, Hermes, Sol de Janeiro and Diptyque.

5. In the three months ended September 30, Lagardere's travel retail quarterly revenue reached a record high, increasing by 21.4%(17.7% year-on-year) to €1.39 billion. The Lagardere Group division said the results were helped by "an exceptional summer in the US and Europe".