When the beauty giants start investing, it’s a sure sign that a trend is getting serious.
Estée Lauder Companies’ New Incubation Ventures’ recent investment in Vyrao, a brand that aims to amplify energy and promote wellbeing through its fragrances, “demonstrates [ELC’s] belief in the opportunity where fragrance and wellness meet,” says Simon Murray, Brand Manager of The Red Tree.
The connection between wellness and fragrance has always existed, but over the past couple of years, it has become one of the key reasons why consumers are investing more in fragrances, according to Circana.
“Consumers are using scent as a form of self care, to satisfy their expanded wellness needs,” says Circana’s Beauty Industry Advisor Larissa Jensen.
In fact, 71% of fragrance wearers look for a scent that lifts their mood and 50% are interested in fragrances that they link to a physical or wellness benefit such as energising, de-stressing and focus.
Walter Johnsen, VP of Product Development at InterParfums, says that while people have always bought and worn fragrances because it uplifts them, the difference now is that “companies are starting to use and are connecting fragrances to aromatherapy, healing, and wellbeing especially after Covid.”
He adds: “This in the past was considered a red flag because it insinuated a medicinal element which could place fragrance into a different category of regulations. These concerns are no longer in play to the degree that they once were and now with the right marketing, adjectives and storytelling, fragrances are being presented as mood enhancers or energy boosters.”