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Business of Fashion
2 days ago
- Business
- Business of Fashion
The Fragrance Market's Squeezed Middle
Just a year ago, Nest was all about accessible luxury. The premium fragrance brand, best known for its home candles and diffusers, expanded its line into body sprays that launched at Ulta Beauty for $39 – a category that's been booming thanks to younger shoppers. But in May, the 17-year-old brand decided that upmarket was the way to move, wiping its Instagram feed clean and replacing it with its new Voyages collection of fine perfumes sold for $250 at Harrods and Bergdorf Goodman. The accompanying campaign, shot by photographer Nick Knight, lends it a higher-fashion positioning than past products. Knight told The Business of Beauty he spent four weeks photographing the fragrances with the goal 'to create images that live in your memory and your emotions.' Nest CEO Edgar Huber, who joined the brand in March 2023, said, 'One of the key elements we have identified for us is really to elevate the brand, make the brand more sophisticated, modernize it, [and make] it more attractive on a global basis.' Still, the body sprays are staying put at Ulta Beauty, and its core sub-$200 range of fragrances is remaining in retailers like Sephora. At first glance, this low-to-high oscillation might seem chaotic, especially in context: Nest's beloved founder Laura Slatkin announced her departure from day-to-day activities earlier in the month in the midst of its rebranding. But consumer desire for affordable scents you can layer and ultra-luxury fragrances that are cult-worthy reflect the current state of the fragrance market: price points low and high are booming, while prestige sales are lagging. ADVERTISEMENT According to data from Circana, sales of fragrances with an average price under $50 grew by 11 percent in the first quarter of this year, while those over $150 increased by 14 percent. The accessible spray categories continue to skyrocket, with body spray sales doubling their sales and hair perfumes up 70 percent. The $50 to $150 range, however – where the smaller sizes of classic icons like Chanel No. 5 and Miss Dior sit — has seen sales decline 3 percent. 'After Covid, niche kind of exploded,' said fragrance consultant Robert Sorce, a former president of Byredo who has also worked at Creed and Amouage. 'A lot of prestige brands are thinking, 'How do I really upscale to compete with those niche brands?'' Brands with products in the mid-price range — which is where Nest's core fragrances land, at $102 — have several challenges when expanding to both the high and the accessible ends of the spectrum. Both require a calibration of brand equity, whether that means elevation to support fine fragrance launches or preservation when going downmarket. Nest's revamp strategy has gone beyond an Instagram reset and high-end campaign. Behind the scenes, it has meant 'closing distribution we didn't want to have,' including combating third-party marketplace sellers on Amazon, as well as reducing discounts and promotions, said Huber. In addition, the brand has pursued more 'consistent and coherent brand expression' with packaging redesign. Stretching the Limits With the continuous popularization of niche fragrances well above the $250 price range, the price of what qualifies as 'luxury' fragrance has shifted far upward. The sub-$200 fragrances, typically designer in nature, feel inexpensive compared to niche labels pushing the boundaries of what fragrance collectors are willing to pay. 'The prices just keep going up,' said Sorce. Kering-owned Creed's 100 mL signature Aventus fragrance has climbed above $500, while Maison Francis Kurkdjian's Baccarat Rouge retails at $335 for 50 mL. Brands such as Roja can sell bottles over $3,300. The number of luxury fashion brands with upmarket fragrance offerings has steadily risen in recent years. Following Dior's La Collection Privée ($220 for the smallest size) and Chanel's Les Exclusifs de Chanel ($350), which debuted in the 2000s, Gucci came out with its Alchemist's Garden line ($280 to $415) in 2019 and Louis Vuitton launched its Les Extraits in 2021 ($585). Luxury fashion brands entering or restarting fragrance have skipped over the prestige category entirely and gone straight to luxury, such as Puig-owned Dries Van Noten with its collection ranging from $310 to $365 and Kering-owned Bottega Veneta's Colpo di Sole fragrance at $450. Even premium brands have climbed up, with Diptyque launching Les Essences de Diptyque ($330) last year. 'They saw this surge in niche and that people were paying for $500 for a bottle of Creed,' said Sorce. 'They were like, 'There's no price resistance, so we're going to cut out the bottom. It makes more sense to just invest more in the top.'' ADVERTISEMENT For Nest, the reasons to go upmarket were numerous, said Huber. He noted that luxury is the 'fastest growing sub-category of fine fragrances,' and has global appeal – while body sprays are a very North America-centred phenomenon. The new line will help the brand's goal of moving further into luxury retailers in Europe and the Middle East, he said. Margins are also better on fine fragrances, even with the higher cost of luxury ingredients, said Sorce. The High-Low Shopper While a highly concentrated eau de parfum with an expensive campaign is one of the only ways perfumiers can go upmarket, there are nearly infinite ways to go more accessible. In addition to less concentrated options like body sprays and hair perfumes, minis, rollerballs, and 'ancillaries' like lotions are all seeing high demand. These launches are still coming in rapid succession, with Boy Smells and By Rosie Jane both being the latest to join the body spray craze last week. 'I'm a prestige value shopper. I love beautiful products, but I also want to have an attainable price point that doesn't feel like a luxury,' said By Rosie Jane founder Rosie Jane Johnston, who launched a fragrance-forward body care collection in May. The most obvious customer for these launches is the entry-level shopper, which is as young as Gen Alpha, thanks to Sol de Janeiro. According to Huber, 64 percent of Nest's body mist customers are new to the brand, creating a ladder for shoppers who might upgrade to the core fragrances and Voyages eventually. More than ever, it appears masstige, premium and luxury brands are finding common ground, creating cheaper formats or ultra-luxe options. Few, however, are revitalizing their core segments. But the premium price range slump isn't affecting all brands equally, as popular designer perfume franchises remain resilient: LVMH listed Dior's J'adore as one of its scents with 'enduring appeal' in its first-quarter 2025 earnings report. Buzzy scents like Glossier You have won over TikTok and brought newness to the classic category. As more luxury brands like Balenciaga plan their entries and re-entries into fragrance, it's unlikely that new launches will be in the $100 price range, according to Sorce. 'They'll look at more of the $200-and-above range,' he predicted. Sign up to The Business of Beauty newsletter, your complimentary, must-read source for the day's most important beauty and wellness news and analysis.
Eater
5 days ago
- Entertainment
- Eater
Indulge in Caviar, Filet Mignon, and Bubbles at This Posh New Downtown Terrace
The folks from Fifty/50 Restaurant Group dropped a hefty sum of money on their new steakhouse, and as lush as the interiors of the Alston, there are a few months (or weeks) out of the year when patio dining can feel comfortable in Chicago. Leveraging its sweet Gold Coast location near the corner of Chicago Avenue and State Street, the Alston recently debuted a rare Downtown Chicago terrace patio. The patio wraps along State Street with a full view of the 149-year-old Holy Name Cathedral as the restaurant sits on the third floor of One Chicago, the luxurious tower that cost about $850 million to build. There aren't too many terrace patios in downtown, so the Alston had an opportunity. The result is a 100-guest heated space built to withstand Chicago's falls and winters. Though ownership sees the terrace as more of a place for a cocktail or glass of wine, they're not about to squander Jenner Tomaska's talents. Tomaska is behind Michelin-starred Esme and developed the Alston's menu. He's created a special menu exclusive to the patio that leans on seafood with platters of chilled oysters, razor clams, and prawns. There's caviar service, salads, and escargot service with herbed butter and puff pastry. For those envious of the full menu indoors, they can enjoy a filet mignon Bordelaise or a lobster tourte. Bubbles factor large with a nice Champagne selection. Patio pounders are fun, even in the Gold Coast, so expect a refined selection of cocktails made for outdoor imbibing, like the 'Josephine's 75' mixed with vodka and grapefruit cordial. What's the song of the summer? The Alston is offering 'Chanel No. 5' with cucumber and yuzu. There's also a library of rare whiskies for those into brown water. While the Terrace will be open seven days a week, it will be closed on Monday, July 21, and Tuesday, July 22. Check out the photos below. The Terrace at The Alston, 750 N. State Street, open 4 p.m. to 10:30 p.m. on Sunday through Thursday; 4 p.m. to 11 p.m. on Friday and Saturday. Eater Chicago All your essential food and restaurant intel delivered to you Email (required) Sign Up By submitting your email, you agree to our Terms and Privacy Notice . This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. DJs and and live music might be in the works eventually. This is a heated space to withstand cold temps. A special menu is available on the Terrace. The space has room for 100 and is available for private events. The space is more conducive to drinking, but chef Jenner Tomaska has prepared a special menu. Seafood towers are a steakhouse classic. Chilled seafood, like oysters, are a patio pleaser. Yes, there's a burger on the menu. Lobster tourte
The Intercept
01-07-2025
- Business
- The Intercept
The Whiff of Corruption: Trump's New Perfume Has Strong Notes of Graft
President Donald Trump took to social media Monday night to promote a limited edition, self-branded fragrance in a bottle topped with a gold statuette of a generic man in a suit, called 'Victory 45-47.' 'For Patriots who never back down, like President Trump. This scent is your rallying cry in a bottle,' reads the advertising copy for both a men's cologne and a women's perfume sold under the same name. Trump launched the scents with an announcement on Truth Social, wedged between posts boasting about U.S. tariff revenue and touting the so-called 'One Big Beautiful Bill.' Hours later, Trump posted: 'We brought respect and dignity back.' 'Trump Fragrances are here. They're called 'Victory 45-47' because they're all about Winning, Strength, and Success,' wrote the president. 'Get yourself a bottle, and don't forget to get one for your loved ones too. Enjoy, have fun, and keep winning!' Victory 45-47 costs a whopping $249 for 3.3 fluid ounces. Roughly the same quantity of Chanel No. 5 retails for $176. Last month, White House press secretary Karoline Leavitt said it was 'absurd for anyone to insinuate that this president is profiting off of the presidency.' Trump's net worth was estimated at $5.1 billion in March, a full $1.2 billion more than the year before, according to Forbes. It is the highest Trump's net worth has ever been in the magazine's rankings. 'It's quite a comeback for the former president, who more than doubled his net worth in a year,' wrote Forbes senior editor Dan Alexander in March. 'It pays to be king.' (Just recently, Trump attacked Forbes and Alexander in a Truth Social post.) Read our Complete Coverage All the President's Crimes The first convicted felon to serve as president, Trump has sidelined past notions of propriety, busted all previous ethical boundaries, and annihilated remaining norms surrounding graft. After being twice impeached during his first term, the president has dismantled any viable machinery of accountability during his second stint in the White House. Trump has fired government inspectors general, installed loyalists at the Justice Department and FBI, and is protected from legislative oversight and additional impeachments by a Republican-controlled Congress. The Intercept has documented Trump and his family's efforts to monetize the presidency via meme coins and cryptocurrency. They and their business partners have collected at least $320 million in fees from $TRUMP crypto. To mark the 100th day of Trump's second term, Sen. Elizabeth Warren, D-Mass., read 100 reports of graft into the congressional record on April 29. 'Trump and his administration have paved the way for the president, his top officials, and his billionaire buddies to personally feed at the trough of government corruption,' she said. Trump reported income of more than $630 million last year, including $57 million from cryptocurrency sales. Trump has assets in excess of $1.6 billion across a business empire that includes real estate holdings, hotels, golf courses, as well as investment accounts and numerous Trump-branded efforts, according to a 234-page financial disclosure released by the White House earlier this month. But every little bit counts: Trump also made $2.5 million from Trump sneakers and perfumes in 2024. Trump previously hawked a 'Fight, Fight, Fight' line of fragrances that harken back to the 2024 attempt on his life in Butler, Pennsylvania. Those scents sell for $199 a bottle. The new Trump perfume and cologne are also available through A webpage touting Victory 45-47 perfume refers to it as 'rare, exclusive, collectible footwear.' '45Footwear uses Donald J. Trump's name, likeness and image under paid license from CIC Ventures LLC,' according to the website's fine print, which also notes 'these are only official Golf Shoes, Sneakers & Fragrances by President Trump!' 45Footwear, LLC is 'not owned, managed or controlled' by the president, the Trump Organization, or CIC but says that it pays CIC for a branding deal. Trump himself is the manager, president, secretary, and treasurer of CIC Ventures, according to his recent financial disclosure, which valued the firm at somewhere between $1 million and $5 million. Wyoming, where 45Footwear is incorporated, does not require businesses to publicly disclose their owners' names. 'Trump Fragrances are not designed, manufactured, distributed or sold by Donald J. Trump, The Trump Organization or any of their respective affiliates or principals,' the Trump Fragrance website says, despite this close connection. The scents and sneakers are part of numerous merchandise, retail sales, and licensing deals worth more than $8 million, which also include products from guitars to watches. Not all Trump-branded products can deliver a rallying cry in a bottle, or even Trump's full name. Tim Petit, a Rhode Island man, bought a $640 'Inauguration First Lady' pink-dialed timepiece for his wife, who cried when her husband gave her a watch that instead said 'RUMP.' 'I'm very disappointed,' he told his local NBC affiliate. 'I want it to be a special thing for her. And we had expected that it would have the integrity of the president of the United States and good follow-through.' Trump has recently addressed the problem of corruption head-on by encouraging other nations to turn a blind eye to possible wrongdoing by their elected leaders. Last weekend, Trump demanded Israeli prosecutors drop the graft charges against Israeli Prime Minister Benjamin Netanyahu, who is on trial for allegedly accepting hundreds of thousands of dollars of luxury goods in exchange for political favors and attempting to negotiate for more favorable coverage from Israeli media outlets. 'Bibi Netanyahu's trial should be CANCELLED, IMMEDIATELY, or a Pardon given to a Great Hero, who has done so much for the State,' Trump posted on Truth Social. 'It was the United States of America that saved Israel, and now it is going to be the United States of America that saves Bibi Netanyahu. THIS TRAVESTY OF 'JUSTICE' CAN NOT BE ALLOWED!'
Perth Now
23-05-2025
- Entertainment
- Perth Now
Malibu Barbie: Margot Robbie spotted on photoshoot set
Margot Robbie has been spotted on the set of a Malibu photoshoot after lying low in the showbiz world since early last year when she became a mum for the first time. The 34-year-old actress walked with confidence down a street in a chic tweed outfit before climbing into a classic, bright red Lincoln Continental convertible. Robbie, who flashed her abdomen in the midriff-baring Chanel skirt set, later changed into red bathers for a second look in the shoot. She left her long, blonde hair down and wore minimal makeup. Robbie has been a Chanel ambassador since 2018 and is the current face of the iconic Chanel No. 5 fragrance. The Barbie star and her husband, Tom Ackerley, welcomed a baby boy into the world seven months ago. The doting mum, who will be starring opposite Jacob Elordi in the upcoming Wuthering Heights adaptation, has been keeping a low profile since early last year. Margot Robbie pictured on the set of a glamorous photoshoot in Malibu. Credit: / She told Deadline in 2024 that she purposefully 'disappeared from screens for a while' after Barbie and instead put all her energy into producing for her LuckyChap Entertainment company. 'This is the longest I haven't acted on a set, because we finished Barbie in October of 2022,' she told the publication. 'So, it's already been more than a year since I was on set as an actor, and other than COVID, that's the first time that's ever happened.' She was photographed around the Easter long weekend soaking up the Queensland weather, pictured alongside Ackerley as the couple hit the surf with friends. Robbie wore a purple bikini and a gold 'mama' necklace and was seen body surfing at a quiet beach on the Gold Coast alongside a female friend.
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First Post
05-05-2025
- Entertainment
- First Post
History Today: When the world woke up and smelled Chanel No. 5
One of the most luxurious perfumes Chanel No. 5 made its entry into the world of fragrances on May 5 , 1921. The perfume was very different from the predominantly floral or musky perfumes of the time, which contributed to its immense popularity. On this day in 1951, Alan B Shepard Jr became the first American to visit space during a 15-minute suborbital flight read more Chanel No. 5 perfume hit the markets on May 5, 1921. File image/Reuters Who does not want to own Chanel No. 5 perfume? Considered to be one of the most luxurious and expensive fragrances in the world, this perfume made an entry into the world of fragrance on May 5, 1921, and went on to change the world of perfumes forever. If you are a history geek who loves to learn about important events from the past, Firstpost Explainers' ongoing series, History Today will be your one-stop destination to explore key events. STORY CONTINUES BELOW THIS AD On this day in 1961, Alan B Shepard Jr etched his name into history by becoming the first American to travel into space. Here is all that happened on this day across the world. Chanel No. 5 makes its debut Most of us dream of owning a wide range of luxurious perfumes. One of these luxurious perfumes is Chanel No. 5. Designed by legendary French fashion designer Gabrielle 'Coco' Chanel, the perfume made its debut on May 5, 1921. It was launched with the idea that it was more than a scent and went on to become a symbol of modern femininity, luxury and timeless style. In an era dominated by predominantly floral or musky perfumes, Gabrielle Chanel desired to formulate an entirely original scent that would represent the contemporary woman - one wjo was assertive, refined and liberated. She engaged Russian-born French perfumer Ernest Beaux, who presented her with a selection of samples. Her choice of the fifth composition, based on her belief in the inherent meaning and understated quality of the number. Consequently, Chanel No. 5 was introduced. The result of the mixture of scents was one that didn't mimic nature but redefined it. File image/AFP This perfume was one of the first fragrances to use synthetic aldehydes, which added a sparkling, abstract quality to the floral base of jasmine, rose, ylang-ylang and sandalwood. The result was a scent that didn't mimic nature but redefined it. Another of the attractive features was the minimalist bottle design was also groundbreaking. In contrast to the ornate perfume bottles of the era, Chanel opted for a sleek and square-cut glass bottle with a simple label that embodied her philosophy of understated elegance. Alan B Shepard Jr becomes America's first space traveller One of the first Americans to visit space was Alan B Shepherd Junior on May 5, 1961. His brief, 15-minute suborbital flight aboard the Freedom 7 spacecraft, a key component of NASA's Project Mercury, represented a significant milestone in the United States' efforts in the space race during the Cold War era. Launched from Cape Canaveral, Florida, Shepard's compact, single-occupant spacecraft, named Freedom 7, was positioned atop a Redstone rocket. Precisely at 9:34 am Eastern Time, the rocket ascended with tremendous force, propelling Shepard to an altitude of 116 miles and achieving velocities exceeding 5,000 miles per hour. STORY CONTINUES BELOW THIS AD Astronaut Alan Shepard Jr. rests in his capsule awaiting his trip into space from Cape Canaveral, Florida on May 5, 1961. File image/AP Despite its brief duration, the mission was revolutionary. Shepard experienced a state of weightlessness, executed a series of basic tests, and provided real-time verbal commentary throughout the flight. The entire journey lasted a mere 15 minutes and 22 seconds, culminating in a safe splashdown in the Atlantic Ocean, where he was subsequently recovered by personnel from the USS Lake Champlain. Alan Shepard later commanded Apollo 14 in 1971, becoming the fifth man to walk on the Moon, and the only Mercury astronaut to achieve that feat. This Day, That Year On this day in 1927, English author Virginia Woolf published To the Lighthouse. Mary Kries became the first woman to receive a US patent on this day in 1809.
