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Fragrances’ demand up

By: Victor Anthony V. Silva February 21,2017 - 09:03 PM

GIACHINO

GIACHINO

The demand for fragrances in the Philippines has been seen to pick up in recent years, driven by the expansion of the country’s middle-income class and Filipinos’ greater purchasing power.

Jennifer Giachino, Inter Parfums, Inc. export manager for Southeast Asia, said perfume sales in the Philippines is good even when compared to the rest of the regional market.

“Sales is good. Among my top markets are the Philippines, Malaysia, Indonesia, and Singapore. Then there are smaller markets such as Thailand, Vietnam, and Cambodia,” she told reporters during her visit to Cebu City last week.

Steady growth in the demand for fragrances in the Philippines can be attributed to the growing middle class in the country as well as their increasing purchasing power.

Giachino said the market is concentrated among those aged 18 to 35 years old.

This trend is not only apparent in the Philippines, but the whole region as a whole.

Asian Nikkei Review, citing a survey by Leffingwell & Associates of the US, said the global flavor and fragrance market was worth $24.1 billion in 2015.

According to the survey, Southeast Asia accounted for just 10 percent of that total, but the regional market has been growing at a steady pace of 7 to 8 percent annually.

The Philippine economy, for one, has grown by 6.8 percent in 2016.

Fragrances range from less than P500 to P5,000 or more in the Philippines, depending on volume and brand.

Giachino was in Cebu to visit Fresh Boutique, a store operated by a local company called Scent & Beauté, Inc., which exclusively distributes five of Inter Parfums international fragrance brands here.

Scent & Beauté operates 12 Fresh Boutique outlets in the Philippines, with only one here located in a mall in uptown Cebu City.

The deal between the two companies almost two years ago started with only three brands and has now grown to five with another brand expected to be added to the list.

Among Fresh Boutique’s brands from Inter Parfums are Oscar de la Renta, Agent Provacateur, Hollister, Bebe, and Abercrombie & Fitch.

Giachino also recognized the proliferation of counterfeit fragrance products in the Philippines, which she said indicates the demand for perfumes.

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TAGS: Cebu, Indonesia, Lifestyle, Malaysia, Philippines

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