Johann Vitrey - No, actually, the niche perfumery segment is not doing that well, especially in France, because there are too many brands, and most of them are empty. The most renowned names were purchased and are doing well, but many brands quickly entered the market although they were not solid enough, which explains why they are experiencing difficulties today. Italians know how to do business with craftsmanship, but in France, arrogance has prevailed over clear-sightedness. The Esxence show will be an opportunity to sort things out for French brands. Many of them have not focused on the right issues or have not identified the right reasons.
Premium Beauty News - What should we expect?
Johann Vitrey - The brands that will stay have a real base: most are heritage brands. But many others went too fast and ran on empty after three of five years, as they did not have that strong a positioning or enough financial support. However, new gems will soon get noticed: they are those that will have taken enough time to install their base with a real artistic concept, like Sabé Masson, who waited until they got mature enough to go to Esxence. These brands will really be able to do business.
Premium Beauty News - Markets like Russia or Europe have known a slowdown. Are there other opportunities?
Johann Vitrey - The nice surprise will come from the discovery of new, very dynamic markets like Pakistan or West Africa, although brands used to stay away from them. As a matter of fact, there are 1.5 million multimillionaire people in Karachi, as well as a network of top luxury points of sale. These new buyers will be all the rage, as they have taken their time to monitor the market. Today, brands need them, so now they will be demanding. Their requirements will focus on the product quality, depending on the climate and skin types, on the customer service, which will need to go much farther than simply distributing samples, and on the customs duties. Young people in these countries were often educated in Europe. They are really open to a new type of perfumery. Codes are going to change.