The growth of our industry is directly linked to the pertinence of its innovations to existing and future consumer needs. Much like the subprime market, inadequate business models and the stifling of creativity in product development practices predictably precipitated a fine fragrance category implosion. The financial crisis only exacerbated the issues fine fragrances have been wrestling with over the past 15 years, and each market stakeholder along the value chain—including fragrance houses—has its share of responsibility in failing to address the industry’s challenges.
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