Page 30 - Special Issue Asutil Conference 2025

INSIDER

Left: Essence Corp featured Michael Kors Pour Femme and Pour Homme, the first two scents produced by Euroitalia, at London Supply’s flagship
store in Puerto Iguazu at the end of 2024, and (above) at Cell Shop on the Brazilian side of the border in Foz de Iguaçu in January.

“In the first quarter of this year we’re Shining brands New headquarters and logistics center
seeing very strong numbers from the Essence Corp is also benefiting in Essence Corp expects to move into
ferries, Colonia Express, and Bernabel Latin America from its strong portfolio of its new headquarters being built in Coral
Trading with Buquebus. Our customers luxury fragrances, which includes Jimmy Gables, Florida by October, when the first
in Chuy, which is a border that’s closest Choo, Montblanc, Ferragamo, Rituals, floor of the 12,000 square foot facility will
to Punta del Este, and is very Argentinian Parfums de Marly, and Versace, among be ready for occupancy. The second floor
driven, also did extremely well,” said others. should be ready towards the end of the first
Bona. Interparfums reported a very strong quarter 2026, said Bona.
Business in the rest of the Americas is year, especially after adding some new The company is also in the midst of
not so positive. brands to the portfolio, said Bona. obtaining a Foreign Trade Zone license for
“On the other hand, the business in “This was the first year that its warehouse so as to be able to manage
Mexico is flat, the U.S. is not doing well, Interparfums added Lacoste to the bonded and non-bonded goods within the
and Canada is tanking,” he added. portfolio. Lacoste is a very strong brand in same space.
LATAM. They had also added DKNY, and
Threat of higher pricing Ferragamo a few years ago. Overall, Jimmy
Looking ahead, Bona is worried about Choo did extremely well. It’s grown to
the impact on pricing. be Interparfums’ number one brand,” said
“We think that there’s a storm of price Bona. “And Euroitalia saw great results
increases coming this summer, even in from its first Michael Kors fragrances, in
markets not directly seeing new tariffs. addition to the strength of Versace and
“In the U.S., companies are not going Moschino.”
to raise prices by 10% -- maybe they will This year, Bona says that Essence Corp
increase prices five or six percent -- but is focusing on building the brands it has.
then they’re going to compensate that loss “We see sales trends in two opposite
by raising prices in other markets to make ends of the market. Our luxury niche
up for the loss in the U.S. brands – those priced $300 and up, mostly
“We have a lot of brands that from the independent perfume houses-- are
are telling us that they are going to extremely strong. And retailers are very
compensate increased costs by raising focused on promotionally priced offers, in
prices worldwide. So LATAM is doing the $29, $39 and $49 range. These price
well now, but you could see a softening points are driving a lot of sales, and are The launch of Lacoste, a very strong brand in
second semester if price increases become especially well-executed with the cruise Latin America, with Motta Internacional at
unmanageable for consumers.” lines, with Dufry and with DFA.” Attenza in El Salvador.

ASUTIL Special Issue June 2025 30