Taylor Swift and Bieber blamed for cosmetic downturn
- Published
It would seem people are turning their noses up at celebrity perfumes.
Elizabeth Arden, the global cosmetics company, is blaming the celebrity perfumes they produce, "particularly the Justin Bieber and Taylor Swift fragrances," for a drop in profits.
Bieber's scents include Girlfriend, Someday and The Key, while Swift has Taylor and Wonderstruck.
But the bad smell extended to the company's shares, which dropped 25% after they posted quarterly figures, external.
"While the Company had expected weaker sales comparisons due to the lower level of fragrance launch activity in fiscal 2014 versus fiscal 2013, the decline in sales of celebrity fragrances, particularly the Justin Bieber and Taylor Swift fragrances, was steeper than anticipated," they said in a statement.
Some would be tempted to blame Bieber's year in the headlines and knocks with the US legal system, but Taylor Swift is the all-American girl-next-door, so why does no one want to smell like her?
Elizabeth Arden said net sales for the three months to June fell 28% to £115m, its steepest drop in 10 years.
They've also warned investors and shareholders that they expected the decline to continue for another six months.
But Swift and Bieber aren't the only big names peddling their smells. Elizabeth Arden also has celebrity perfume brands from Britney Spears, Nicki Minaj, Jennifer Anniston and Mariah Carey, to name a few.
Elizabeth Arden had five of the top 10 celebrity perfumes in the United States last year but the overall market for these perfumes is shrinking, according to Euromonitor.
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