Elizabeth Arden no longer smells so sweet

It appears that young consumers are turning their noses up at Justin Bieber and Tailor Swift, leaving Elizabeth Arden, a global prestige beauty products company, suffering a dramatic drop in net sales in the last quarter. A press release from the company lists the sales figures for April, May and June this year at USD191.7 million, a decrease of 28.4% as compared to 2013.

The company had been expecting a somewhat weaker sales performance due to comparatively fewer fragrance launches in fiscal year 2014. However, Elizabeth Arden has experienced waning interest in its celebrity fragrances, resulting in a much steeper than anticipated decline. Perhaps surprisingly, despite both pop stars having a huge global fan base, the fragrances endorsed by Justin Bieber and Taylor Swift have proved particularly unpopular. In an effort to offset the risk of becoming lumbered with obsolete stock, a number of ‘non-prestige’ retail customers took the decision to offload the celebrity fragrances at substantial discounts.