By  on October 22, 2009

The fragrance industry is holding its breath and hoping for the best as it heads into the holiday season — even as it grapples with one of the most challenging markets to date.

“We’re going into the holiday season down 10 to 11 percent, where last year heading into holiday the fragrance industry was down just 2 percent,” The NPD Group’s vice president and global beauty industry analyst Karen Grant told Jenny B. Fine, editor of WWD Beauty Biz, during a panel discussion hosted by Cosmetic Executive Women Tuesday evening. “There’s been some formulaic approaches to the business; there has been some sameness that has created some challenges. And while we’re seeing ways that the category can work and be differentiated, it is increasingly challenging to create successes today.”

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