NEW YORK — Fresh off acquiring the Versace beauty business, EuroItalia of Cavenago, Italy, has turned the spotlight on its Moschino fragrance license.
Moschino’s newest Cheap and Chic scent, a women’s fragrance called I Love Love, was unveiled during an interview here Wednesday with executives from EuroItalia’s U.S. affiliate, EuroItaly.
I Love Love will be the third scent within the Cheap and Chic fragrance portfolio, which also includes the original Cheap and Chic by Moschino as well as L’Eau Cheap and Chic.
The scent will be launched in the U.S. in early February, an introduction that will take place in a chainwide exclusive with Saks Fifth Avenue to capitalize on the Valentine’s Day selling period. In addition to a spring launch in Italy, I Love Love will also be rolled out globally.
Regarding the exclusive U.S. launch with Saks, “The choice was made to take advantage of the [Moschino] synergy within Saks,” said Connie Ruscio, vice president and general manager of Fragrances Exclusive Inc., which distributes Moschino fragrances in the U.S. She was referring to the fact that the retailer already has an established Moschino fashion business and that adding I Love Love would widen the breadth of the Moschino franchise at Saks, which includes ready-to-wear, swimwear, jeans, scarves and bags.
Rossella Jardini, creative director of Moschino, noted that, “Beauty for Moschino has been an integral part of the overall image of the brand, since its inception.”
By late spring-early summer in the U.S., I Love Love will be rolled out to 1,200 department stores, according to Ruscio. The widened distribution base will include retailers like Neiman Marcus — another established Moschino fashion venue — Nordstrom, Federated Department Stores Inc., May Department Stores Co. and Dillard’s.
Industry sources estimate the scent could generate global retail sales of 15 million euros, or $19.9 million at current exchange rates, during its first year on the market. In the U.S., that number could fall between $8 million and $10 million.
Claudio Tenan, export manager for $594 million EuroItalia, called I Love Love a “very strategic launch” within both the Cheap and Chic brand and within the full stable of Moschino fragrances. “We expect — and we already have plans for the most important markets worldwide — that I Love Love will become our biggest and most successful line in the Moschino portfolio from year one,” Tenan remarked.
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