PARIS, Oct 21 (Reuters) – Identified for its prized Louis XIII cognac, Remy Cointreau (RCOP.PA) is getting into the luxurious perfume market with the launch of Maison Psyche, an upscale fragrance home that may promote scents beginning at 5,500 euros a bottle.
The French spirits group will draw on its expertise in mixing and ageing spirits, in addition to advertising and marketing to excessive finish clientele, because it seeks to faucet into prosperous shoppers’ thirst for exclusivity.
The brand new enterprise could possibly be “doubtlessly strategic,” Remy Cointreau chief government Eric Vallat informed Reuters.
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The manager didn’t present monetary particulars however mentioned it could begin out small, in comparison with the spirits group which has annual gross sales of round 1.3 billion euros.
“We now have actual ambition. If this challenge works, others will comply with,” mentioned Vallat, noting he sees the label as “a pure extension” of Remy Cointreau’s actions.
The transfer comes as the luxurious trade doubles down on serving wealthier purchasers who can nonetheless afford to splash out on excessive finish items regardless of rising inflation.
The world’s largest luxurious group LVMH has been investing in luxurious hospitality serving increased finish purchasers, opening five-star Cheval Blanc and Bulgari resorts in Paris, whereas latest expectation-beating buying and selling updates from labels like Hermes, which sells $10,000 purses, illustrate the resilience of labels on the increased finish.
The marketplace for area of interest, high-end fragrances has additionally been booming, with sturdy urge for food in the USA specifically, prompting investments like Puig’s buy of Byredo.
Remy Cointreau’s Maison Psyche was born from the collaboration of Baptiste Loiseau, Cellar Grasp of Remy Martin and Sophie Labbe, Principal Perfumer of Switzerland’s perfume group Firmenich.
Maison Psyche’s first assortment of 5 unique fragrances have frolicked maturing in Cognac in western France in specifically designed small oak barrels.
They are going to be bought in Baccarat crystal bottles, adorned in gold – some with diamonds, numbered and solely out there in very restricted portions.
Orders have already been coming in, Vallat mentioned, noting the label would purpose to serve rich purchasers that already purchase the group’s Louis XIII cognac, its mix of eaux de vie aged as much as 100 years and priced at over $3,000 a bottle on common.
Maison Psyche will promote its perfumes on to shoppers by way of appointments in particular venues comparable to an unique Paris house, with a plan to develop worldwide inside six months, Vallat mentioned.
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Reporting by Dominique Vidalon, further reporting by Mimosa; Enhancing by Elaine Hardcastle
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