In a testament to the allure of French beauty expertise, the Estée Lauder Group has unveiled plans for a groundbreaking fragrance innovation center in Paris. With an impressive 40% growth in the prestige fragrance segment since 2019, this move reflects Estée Lauder’s commitment to elevating its fragrance portfolio.
Named ‘L’Atelier,’ this state-of-the-art facility will strategically be located in Paris (with the exact address to be disclosed later) and is set to open at the end of 2024. L’Atelier will serve as a hub for innovation and craftsmanship, driving the development of Estée Lauder Group’s renowned fragrance brands.
L’Atelier’s mission is clear: to support the creative endeavors of Estée Lauder Group’s fragrance portfolio by establishing proximity to perfumers, suppliers, and production partners. Guided by a dedicated team of fragrance experts, L’Atelier will foster co-creation and collaboration with external partners, aiming to expedite the introduction of innovative fragrances, packaging, and concepts. This approach aligns with Estée Lauder’s vision to stay at the forefront of the fragrance industry.
Estée Lauder boasts an impressive portfolio of fragrance brands, including Jo Malone London, Tom Ford, Le Labo, as well as French houses like Kilian Paris and Editions de Parfums Frédéric Malle. Despite a 10% decrease in overall sales for the full 2022/23 financial year ending on June 30th (amounting to $15.91 billion, -6% on a like-for-like basis), the move to establish L’Atelier signals Estée Lauder’s forward-looking strategy to tap into the potential growth of the fragrance market.
According to Euromonitor, the prestige fragrance market is projected to experience a robust annual growth rate of 9% until 2027. This highlights the significant opportunities that Estée Lauder aims to seize with its innovative fragrance development center in Paris.