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.
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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.
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By GlobalData
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Primark NV
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