Luciano Bertinelli, CEO At Ferragamo Parfums
Euromonitor International is happy to current an interview with Luciano Bertinelli, the CEO at Ferragamo Parfums, part of the luxury specialist firm Salvatore Ferragamo S.p.A, based in Italy. The CEO discusses prevailing issues in fragrances, together with the energy of the niche segment and the want for personalised affords, as well because the rise of stand-alone stores among magnificence players, subjects of interest to industry observers and fragrance players, as the competitive panorama bears higher resemblance to a battleground for market share and too few consumers, typically finicky on scent.
Niche perfumeries have been on the rise in recent times, potentially even eroding among the market share from global prestige manufacturers reminiscent of Salvatore Ferragamo. Can global fragrance brands compete with the area of interest section with exclusive collections
The area of interest perfumeries have undergone an important and attention-grabbing growth and growth over the previous years, turning into almost a pattern. We don’t consider them a competitor but an opportunity for haut de gamme products and exclusive collections, like our Tuscan Soul and Tuscan Scent Quintessential Collections, which are only distributed in our Salvatore Ferragamo Boutiques and chosen high shops.
Do you imagine fragrance personalisation is the brand new means forward in the business to compete in a saturated market
I feel that fragrance personalisation, in phrases of creating a person scent, might be an additional option to compete in a saturated market. In actual fact, nowadays shoppers more and more respect and seek exclusive, unique and made to measure merchandise. Having mentioned that, I guess that the eventual advantages by way of extra sales wouldn’t be compensated enough by the complicated enterprise model this tool would require. On the contrary, I consider personalisation associated to modern aesthetic parts of the flacon and packaging a robust way to differentiate a fragrance in a saturated market. Also to leverage on market alternatives like local festivities helps to stand out. On the occasion of the Salvatore Ferragamo’s twentieth Anniversary Celebration in China, for instance, we launched a limited edition of Signorina Eau de Parfum, exclusively obtainable in our boutiques in China.
Mental property safety is lacking in fragrances. Do you think this could ferragamo online kaufen benefit the business if it was carried out How
To copy a perfume is very difficult as it’s a multifaceted olfactive creation with a protracted process of development and technical and chemical know-how. After all the trade could have some advantages from mental property safety, since each perfume would be really unique. In apply, managing your complete course of linked to it would be very complex and would have extra prices than benefits.
Some world brands resembling Burberry and Christian Dior now function their own stand-alone shops merging their style business too. Do you consider this provides a aggressive benefit within the retail surroundings
It may be an extraordinary aggressive benefit from an image perspective and an ideal alternative to draw totally different clients who are not only excited by fragrances. This is a crucial strategic resolution to take, considering also the excessive investment of stand-alone stores. We at Salvatore Ferragamo have started to work on this direction with dedicated model counters in prime malls, joining three product categories: fragrances, eyewear and timepieces. For now we opened the primary ones in China and Italy and are considering to broaden this business mannequin to other international locations. That is a primary step in that course with a limited investment to higher evaluate the true business opportunity.
Online retailing in the beauty trade is turn out to be well-liked with shoppers. Fragrances, nonetheless, usually rely on the buyer smelling the product before making a purchase order choice. Do you see on-line activity changing into a major supply of gross sales in fragrances, especially given the more digitally-engaged youthful shoppers
In comparison with different fashion accessories or magnificence products, the first fragrance purchase often depends on the patron smelling the product. I feel that more than another product you employ or put on, a perfume expresses and underlines your persona and subsequently the choice is a person one. In fact customers approach a fragrance due to the model, the interesting communication and aspect, but in the long run they purchase it as a result of they like the smell. On-line purchasing becomes a major supply of gross sales when it come to the re-purchase of fragrances.
What are the emerging challenges in today’s fragrances market
In a very aggressive situation, distribution and visibility are our major problem, for each off and on-line channels. As we speak, customers are frequent travellers and purchasing is now not only home. Therefore it’s important to achieve not solely an area but global coherent visibility and bear in mind of high and low travel durations.
As for Salvatore Ferragamo, any new launches in the pipeline, or perhaps recent launches (comparable to Signorina Assortment or Tuscan Scent) that you would like to debate Why do they stand out available in the market
The worldwide rollout of Signorina Misteriosa just started. It enlarges the Signorina franchise. Signorina is our most iconic product enjoying major success thanks additionally to the standard and strong link to the Salvatore Ferragamo Maison. In the second part of the year we’ll launch a new men’s line deeply linked to the DNA of our model.