4 companies from the world of perfumery predicted to grow after COVID
Perfume companies are among the main victims of the pandemic in the beauty industry. But they are adapting to e-commerce and their brands could make billions in the future, says Vivian Blumenthal
Vivian Blumenthal predicts that some cosmetics companies will emerge from the coronavirus pandemic “stronger than before” - and their brands will enter the “billionaire club”. Specifically, Vivian points to the opportunities that come from the $ 26 billion perfume market.
“As [quarantine] restrictions ease, perfume companies - some of the main victims of COVID-19 in the beauty industry - are bound to return. And perhaps stronger than ever, as brands adapt to life in the digital world, ”writes Vivian.
While perfume sales are down $ 5 billion in 2020 from the previous year, the sector is set to recover, Vivian said. This is partly due to the development of e-commerce.
Vivian Blumenthal notes that some perfume brands can enter the "billionaire club" - they can earn more than $ 1 billion a year from the sale of their products. But to become part of the club, they need to surpass the market through innovation. And it's better if the brand works in other areas of the beauty industry - for example, in the field of skincare and makeup.
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