Page 28 - ASUTIL 2024 Edition

INSIDER

Antoine Bona. “These fragrances are a
little more sophisticated, made with more
essential oils and stronger concentrations.
This elevates them. And that’s definitely a
trend in Latin America. We see it with all
the major stores, although not yet as much
along the more remote borders.”

Uruguay and Brazil: On the border
Taking a closer look at LATAM’s
border business, the Essence executives
explain that the company currently supplies
20 of the 24 stores now open on the
Brazilian border, and about 50 of the 90
stores on the Uruguay border, including
DFA and Neutax (Neutral by Luryx).
“Since 2019, many of the operators
The Jimmy Choo holiday HPP at Duty Free Americas in Uruguay. on the Brazilian side have opened a second
store and some have opened multiple
stores. And all the stores are new versus
those in Uruguay, where some of the stores
business and several borders in Latin in the U.S. really helps our Caribbean and are 20 to 30 years old. So there’s more
America,” says Guillaume Bona. “It’s a North American sales, and even the Latin recent capex investment in the Brazilian
beautiful brand, and probably one of the American sales.” stores,” explains Antoine Bona.
only Top 10 brands, along with Versace, “In Uruguay, with the older stores,
that does not belong to a public company. Fragrance business gets stronger the retailers were more strapped for
(Note: Dolce & Gabbana took its fragrance The growing trend for fragrances investment in capex during the previous
license in-house in 2022 when its licensing throughout the Americas is another plus for years, but we are seeing more and more
deal with Shiseido had expired.) the Latin American border business, say the investments instore, post COVID, as
“And we partnered with L’Occitane Essence executives. they’ve recovered.”
three years ago, and now we are “Fragrance is King, the strongest “Our biggest challenge on the
representing their Sol de Janeiro brand. category of the beauty business. It was Uruguay border was bringing in new
This is one of the hottest brands in the always very strong in Latin America, brands and elevating brand image. On
market and is in high demand in our region. where it was the dominant category. And the Brazilian side of the border it was
So we are very happy with this.” now it’s a dominant category in North and more about helping the different brands
“We’ve also done extremely well with South America. We are also seeing a huge understand that this channel exists, and
Versace,” adds Antoine Bona. “It’s a top trend for Haute Parfumerie brands, the developing relationships with these new
five brand worldwide, and extremely strong niche brands – such as Creed and Parfums operators, and coaching in-store category
in the region. They closed last year in the de Marly-- and we see this as a growing management which we are doing,” he says.
U.S. NPD at number four. That exposure trend in Latin America as well,” explains For one thing, some of the operators

Cell Shop and Essence Corp staged impressive launches for Shiseido’s Ultimune and Interparfums Moncler fragrances.

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