Benefit Cosmetics is focusing on expanding its fragrance business, both in the U.S. and internationally, with the launch of its second scent, called B Spot.
According to Jean-Andre Rougeot, chief executive officer of the LVMH Moët Hennessy Louis Vuitton-owned cosmetics company, the firm is looking to create a steady flow of fragrance innovation, in comparison with previous years, in order to develop Benefit's fragrance business.
"We've done little in fragrance in the past and feel this is a mistake because Benefit is a fun brand with a sense of humor that translates well into fragrance," said Rougeot. "This is not just a launch, but the start of a much more aggressive fragrance strategy, which we will start to see unfold over the next few years since we want to be a bigger player in fragrance."
Rougeot added that the objective is to make Benefit a $400 million global brand by the end ofthis year.
"Last year we experienced a 25 percent increase from the prior year, so we think we are in good shape to meet this goal," said Rougeot.He would not divulge the current volume, but sources estimate it at $300 million.
Although executives wouldn't comment, industry sources estimate Benefit B Spot will bring in $15 million in first-year retail sales.
Launching this month, Benefit B Spot is a fruity floral fragrance. The scent is composed of top notes of freesia, mango, black currant and tangerine; middle notes of peony, apple flower, watermelon and white orchid, and base notes of sandalwood, amber and marine. Retailing for $38 for a 1.7-oz. eau de toilette, the fragrance will be available at Macy's, Bloomingdale's, Belk and Sephora. The fragrance will also be sold online on benefitcosmetics.com.
"The fragrance has that flirty lingering factor without a being floral fragrance," said Jean Ford, who founded Benefit with twin sister Jane Ford.
Located on the packaging of the box and spray, there's a map indicating a woman's pulse points that can help consumers "find your B spot."
"It's a 'good-time' fragrance," said Jane. "We wanted to capture San Francisco in the Sixties so we chose sandalwood and amber notes, so it has that hippy offbeat feel to it."
On the international front, Benefit has experienced rapid global expansion, said Rougeot. The company is continuing to look at opportunities to enter new markets such as Asia, including South Korea. Over the last three months Benefit has expanded into Italy, Portugal and Poland, and plans to enter Romania, Russia and Holland by yearend.
Last month, the brand inaugurated its first department store shop-in-shop concept in a Debenhams store in the U.K. Plans are in the works to open up to six shops-in-shops a year in the U.K. and Ireland over the next four to five years.
The spaces, which will measure between 450 and 650 square feet, will offer services available in the brand's freestanding stores, including eyebrow grooming.
"Department store retailing is about theater," said Ian Marshall, managing director of Benefit Cosmetics U.K. "Transporting the world of Benefit there will bring huge visual excitement."
A second shop-in-shop is scheduled to open in a House of Fraser department store in the Bluewater shopping mall in Kent outside London in August or September.
The U.K. is Benefit's second biggest market after the U.S., according to Marshall.
In the U.S., the company has plans to double its "brow bar" business at Macy's and Bloomingdale's to 30 doors by the end of the year. The company also recently opened its first freestanding boutique on the East Coast in New Canaan, Conn.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)