Bargain hunters are in for a real treat and clothing and accessories retailer Primark is once again behind it.
The retailer recently launched a fragrance line called ‘The Private Collection’, which is set to lure in value-seeking shoppers by offering them more than just a good bargain. Starting at a very low price of just £3 for 20ml (£8 for 100ml), Primark’s new range of six unisex fragrances is perceived to comparable to products offered by the upmarket perfume brand Jo Malone.
Available in blends remarkably similar to Jo Malone’s signature scents – Rose Oud, Jasmine & Honey, Vanilla Absolute, Amber Noir, Pomegranate & Black Tea, and Mandarin & Basil – savvy shoppers can get hold of one of these fragrances for just a fraction of the price of a Jo Malone original, which are priced significantly higher and sold in premium retail outlets.
Primark’s bold strategy of taking on a luxury brand by replicating their signature fragrances could be a real game-changer for the personal care space and evidently more so for the fragrance market. Another high-street retailer hoping to capitalise on this lucrative opportunity is Superdrug, which has just announced that it will be launching ‘The Bloom Collection’ later this year, offering affordable Jo Malone-inspired fragrances.
Primark and Superdrug’s approach in developing replicas of designer fragrances could be a successful follow-on to the Italian online store ‘Profumi equivalent’, which offers bargain hunters great value for money by offering perfume ‘equivalents’ of famous brands at significantly lower prices.
Clearly a treat to bargain hunters, but what about the potential impact on luxury brands? Could these types of facsimile product launches prove to be a direct threat to premium-priced luxury offerings and how can high-end brands keep on persuading consumers that their products are worth the price? It’s an interesting space, and we’ll have to watch to find out.