The niche perfumery industry has experienced remarkable growth, with the global luxury perfume market valued at approximately USD 24.3 billion in 2024 and projected to reach USD 45.8 billion by 2033, growing at a compound annual growth rate (CAGR) of 7.7%.

This expansion is evident at events like Esxence 2025 in Milan, which celebrated its fifteenth edition with over 13,500 visitors and 384 brands from 38 countries, showcasing emerging trends in artistic perfumery.

However, this rapid growth has attracted significant private equity investments, raising concerns about the commercialization of artistic perfumery. Brands like BORNTOSTANDOUT, founded by South Korean Jun Lim, have secured investments from Touch Capital and L’Oréal’s corporate venture capital firm, Bold. Similarly, FUGAZZI, known for its playful scents and fun, approachable branding, has expanded its reach by partnering with EUROPERFUMES for U.S. distribution.

The fashion industry offers a cautionary tale. Between 2022 and 2025, several brands faced financial turmoil, with major U.S. retailers announcing 7,325 store closures in 2024—a 33% increase from 2023. The luxury retailer Matchesfashion also reported rising losses, from £5.9 million in 2020 to £70.9 million in 2023, ultimately leading to its closure in early 2024.

Despite these challenges, some niche perfumery brands continue to thrive, maintaining their independence and authenticity. Brands like Nasomatto and Orto Parisi have stayed true to their unapologetic communication and unconventional marketing practices, achieving consistent growth regardless of global high-end fragrance market fluctuations. Meanwhile, 27 87 and WA:IT Botanicamente focus on coherent branding and sustainability, emphasizing genuine connections with consumers—offering a glimpse of hope for the future of the niche fragrance industry.

As niche perfumery evolves, the industry faces a pivotal choice: pursue aggressive expansion, risking over-commercialization and market saturation, or prioritize sustainable growth and authenticity.

The strategic decisions made by both brands and retail partners will ultimately determine whether niche perfumery maintains its unique allure or follows the same pitfalls as the fashion sector.

Sources: globenewswire.com, businessinsider.com, voguebusiness.com

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The Influence of Global Events on Future Buyers 

The impact of events like the COVID-19 pandemic and geopolitical tensions has left a lasting imprint on the state of mind of Gen Z and younger millennials. These generations are now more conscious than ever about their purchasing decisions’ environmental and ethical implications. Ninety per cent of Gen Z and younger millennials are interested in purchasing clean beauty products in the future. Clean beauty products, which emphasize sustainability, natural ingredients, and ethical practices, have thus sparked interest and loyalty among these demographics. By 2027, overall revenue is expected to grow by 12% in the global clean beauty market. 

Rise of Key Markets: China, Japan, South Korea, the US and Germany 

Economically speaking, several countries are emerging as key players in the global retail cosmetics and toiletries segment. China, Japan, South Korea, the US, and Germany collectively dominate this space, commanding a significant market share – 60% of the global market size of the retail cosmetics and toiletries segment. Factors such as rising disposable incomes, growing awareness of clean beauty and knowledge of non-invasive alternative beauty practices contribute to the prominence of these markets. Beauty and wellness brands keen on expanding their global footprint must strategically align their efforts with these dynamic regions to capitalize on market opportunities effectively. 

The Role of WA:IT in Shaping the Future 

As a pioneering carbon-negative wellness brand, WA:IT embodies the essence of modern beauty that resonates with today’s conscientious consumers. Our fusion of Japanese tranquillity and Italian vibrancy captures the essence of beauty’s duality, offering products that evoke mood-lifting experiences rooted in authenticity. 

Sustainability is not just a buzzword at WA:IT; it’s at the core of our mission. From ethically sourced ingredients to operating in a carbon-negative manner, we set new standards in the industry. Our recent participation in the New York Climate Week Summit underscores our commitment to reshaping the beauty industry’s production chains and perceptions. 

As we expand into the USA and Asian markets, we are excited to introduce our unique brand ethos to a wider audience. Our specialized SPA protocols and product ranges tailored for the travel and wellness hospitality sectors reflect our dedication to providing holistic experiences that transcend traditional beauty norms. 

In collaboration with Piero Lissoni, founder of Lissoni & Partners, we recently unveiled our latest creation, the TOKA scented candle, adding another dimension to our product offerings. As the beauty and wellness landscape continues to evolve, WA:IT remains at the forefront, inspiring authentic beauty journeys that celebrate sustainability, mindfulness, and the art of conscious presence. 

Statistics Source: Ulta Research Services LLC. 

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Different professions foster different attitudes and lifestyles. Some professions for example require smelling, weighting and thinking. And there’s always a good amount of pure and cute naivety of a beginner. The search for truth and the moment of decision-making to take up the run. Marathon or sprint – that depending on a vision and personality. 

And if you choose running the marathon, you still have to practice sprints and breathing in between. Breathe in and breathe out, train, reflect, create and summarize. One of those sprints for me took place in Milan, at Esxence tradeshow dedicated to the art of perfumery. Discussions heard and products experienced triggered in me both – a culture enthusiast and just a frank person who enjoys arguments that evoke the positive and developing sense of criticism. 

But before we proceed, one has to answer – why the sense of smell and why perfumes? The reasons are mostly multi-disciplinary and cross-cultural. First and foremost perfumes are about intelligence and beauty, and beauty differs from one cultural room to another, from one person to another. Beauty is ungraspable, it is based on the experiences and knowledge. And a perfume is definitely one beautiful work of art. Secondly, the all-known and over-used fact that smell is connected with our memory and plays upon the feeling of nostalgia. Yes, we all know that pretty well from our personal experiences. Thirdly, there’s something mysterious about it all, and one is just simply curious by nature. Smell cannot be easily transmitted as images or melodies, it is a less reliable sensation than vision or sound. So, here rises a question about the communication and possible interpretations. And last but not least, from a storyteller point of view, perfumes or lets say scents in general are chemical stories, novellas, and poems that carry meanings. They are messages to be perceived and kept close. 
So, these were the main reasons why the sense of smell and why perfumes.  

PERFUMERY CULTURE IS… 
…’farouche’ as they say in French, meaning both ‘shy’ and ‘fierce’ at the same time. I started from the shy side learning it all from the basics, reading and measuring scented poems line by line in the laboratory in Paris. One discovered that there are numerous opinions and opinion holders within the industry. Many of them barely being near the scale or touching a pipette, but still having annoying opinions for example about oriental scents, not knowing how really annoying it is to add resinoids into the perfume formula. 
(background sound: ‘Drop It Like It’s Hot’ by Snoop Dogg) 

Prophet Muhammad was said to be a perfume lover, one of his quotes is that perfume is the intangible quality of god. The unmeasurable and otherworldly. One can also view a perfume as a product of culture full of meanings. But how to perceive it? How to evaluate the quality? How to interpret it? And how to talk about it? Where to position this mysterious piece of art? 

To hear more opinions, I decided to attend Esxence lectures in Milan, to hear the opinions towards the approach on perfumery criticism, and of course – smell them all!  

THE STABLE MARKETING POINT OF VIEW 
It is easy to grasp and understand fragrance from a marketing point of view. Simply by viewing it as a product. We can evaluate the packaging, the amount of costly raw materials used, the effort that was put to produce “the story” behind the creation, that is “connected with the soul” or was “inspired by the travels to exotic places”… We’re all familiar with them, and this all is simply great, inspiring and somehow educating. Here we sense perfume from a consumer point of view: where is it distributed, how is it communicated within the media, who is the main target group etc. Clear enough, fair enough. There’s a logical system within this approach, there are numbers and stats that matter the most.  

Coming from semiotic woods and having background in qualitative research, I must stay true to my roots and agree with Vin Scully, who said that statistics are used much like a drunk uses a lamppost: for support, not illumination. Let’s illuminate.  

THE LIGHT ART POINT OF VIEW 
But if many of us, including me, state that perfumery is art, then what is art and how to evaluate it? How to criticize a fragrance from the art point of view? At Exsence during the lecture on perfumery criticism it wasn’t yet clear which approach to take. There were comparisons and thoughts about approaching it from the movie industry and awards point of view. Also, from a literary and from an author point of views. What remained dominating within this discussion was the importance of exchanging information, impressions and creating the language of perfumery. Yes, of course we can “culturize” scents and fragrances in that way, make them more domestic and common. But it’s still not enough if to develop a system for perfumery criticism and judgement. In my frank opinion, the logic and the concept of criticism went missing during this panel discussion.  

As heard at the forum, analyzing perfumes through their creators is a very beautiful idea, and poetically speaking definitely a fruitful ground where to break it down. But it would be definitely too subject-focused approach, and it wouldn’t give us a proper playground. I agree that we could borrow frameworks from the movie industry. There are plenty of different schools that supply us with the tools to analyze a moving image and meanings behind it. The language of the movie and cultural codes in it. There’s a great contribution by Italian and French movie theorists, Russian formalists, and Umberto Eco’s developments based on Metz and Pasolini’s works. Movie industry has definitely a very wide variety of tools for criticism, evaluation and analysis. There are lots of different approaches and ways to grasp movie as an art piece and as a product of a culture. 

Drawing upon this, I would suggest that if talking about fragrance criticism we should develop same systematic approach, be it based on structuralists’ views or language logicians. We do already have a great basis of thoughts and conclusions by the great ones such as Edmond Roudnitska, who applied Kantian aesthetic judgment within his writings and creations. And if to establish a language of perfumery and develop the proper criticism, one should have a system, a system of scented logic. For instance, we could borrow frameworks from logicians or semioticians, such as Ludwig Wittgenstein or Roland Barthes and apply them to perfumery analysis.   

ON THE CONTRIBUTION OF ONLINE OPINION LEADERS 
Freedom is great. And it’s definitely great that nowadays everyone has freedom to express themselves in this digital world. It’s great that there are platforms where to gather and discuss, where to connect with like-minded people, where to share your knowledge and thoughts, where to exchange and learn… My question here would be is this great greatness always right? Should one take all this for a pure truth and right expertise? As heard from the creators’ side, some parts of this greatness aren’t always exactly true, some parts of it aren’t always right, some parts of it are just a heavy mass of personal opinions and reflections. 

What went missing during the panel discussion and the glorification of the rise of online community, was the other side of the coin. And there’s always the other side. Besides the positive values and awareness that these opinion leaders and platforms create, there’s also the harmful side. The level and the expertise of these opinions might be sometimes questionable. 

Start-ups are great, but they’re really great when people behind them have a certain level of education and experience. One cannot become an expert out of the blue just by buying a new camera and deciding to blog about something curious such as perfumery. Pardon my French, I don’t want to say that it’s easy to smell and track, not at all. But it’s definitely way too easy to create opinions and likes. Which are subjective and definitely not the main elements to consider if we want to speak about the real criticism. 

Sometimes I speak too much. Sometimes I don’t speak at all. But I’m certainly curious to explore, learn and understand. I do value highly exchanging and I do think that having an opinion is essential. And if talking perfumery criticism, it should be fair and professional, acknowledged and conscious about cultural backgrounds, different interpretations and final meaning depending on the environment. 

Criticism is cold and calculated. Criticism is systematic and balanced. If to start building up the language of perfumery and the criticism of its grammar and vocabulary, one has to consider not only the final product and the affection and impressions of the market. One has to consider all the elements, codes and parts, all the lines: raw materials used, their quality, the complexity or simplicity of the formula, length or shortness, the outcome, the effect, perceptions and meanings arised. It should have some personal reflections, mainly based on the knowledge of classics to compare and detect possible copies. 

A perfume is more than a story and the nose behind it. Perfumery is way more complex entity to analyse and criticize. American drama critic George Jean Nathan has said that criticism is the windows and chandeliers of art: it illuminates the enveloping darkness in which art might otherwise rest only vaguely discernible, and perhaps altogether unseen. So critique is essential, it’s needed for an art piece to survive, to come alive. 

After visiting Exsence and talking with the creators and noses, one thing is clear – there is passion, there are years of learning and working, there are pieces of art and stories. Very strong ones and very well curated. Scent making is definitely an art but what about criticism? 

Maybe this write-up is too ‘farouche’, meaning the fierce side of this word and reflecting the frankly ambitious view of a newcomer. Maybe one will eat her words in a couple of years… Maybe yes, maybe not, but one is for sure – there’s always a way to make it better, to become better and to evolve in every sense of this verb. 

The post When criticising scents appeared first on Welcome.

PROFESSIONAL FREEDOM 

My career began as a copywriter, but over time, I felt the need to plan and lead projects. As a result, I started to take on a series of different tasks and roles. Curiosity led me to analyse different leadership types and the motivations behind them. This interpersonal and holistic approach allowed me to bridge the gap between personal and business ethics, emphasising values and beliefs, respectful communication, and a genuine appreciation of everything. I began to attract creative people, unconventional projects and brands I found inspiring. I worked closely with the founders of these brands, serving as a bridge between the departments, managing the rational and irrational processes that came up, as well as cultural differences and shepherding out-of-the-box ideas. I understood early the importance and the power of authenticity, and the name I used for my business – THE FRANKLY SPEAKING – reflected this. 

Even though I have worked as a freelancer for most of my professional life and thus developed discipline and immense planning skills, I have come up against a wide array of opinions about freelancing. A person who identifies as a freelancer is perceived as “being jobless”, “a hopeless multi-tasker”, “an overachiever”, “a small entrepreneur”, or “an expert consultant”. These stereotypes often limited my potential; meanwhile, the most important part was “being free”. History supports this if one examines the origin of the term – the earliest written evidence for ‘freelance’ is seen in Sir Walter Scott’s “Ivanhoe”, in which a lord refers to his paid army of ‘free lances’. When freelance first came into use in the early 1800s, it referred to a medieval mercenary who would fight for whichever nation or person paid them the most. In my case, I would develop the best strategies and offer the best services with additional inputs to whichever brand or client sought me out. The journey towards embracing a freelance mindset wasn’t without its struggles. However, my stubbornness and the results I achieved allowed me to overcome all obstacles and showed me that this was the perfect fit for me.  

PERSONAL FREEDOM 

While I experimented with being free in my professional life, my definition of freedom was also tested in my personal life. I didn’t know how to explain that the desire to “be free” didn’t mean I was looking for an open relationship or could not commit. I wanted to prove everything was possible, yet I ran away whenever there was a confrontation. I was loved professionally, yet I faced judgements in my personal life. They say that everything happens for a reason, and by admitting what was going on and what I truly wanted, things started to change. I began to meet new people. With time, whenever I received feedbacks such as “You have too much personality” or “You think too much”, I turned them into strengths that propelled me forward. I pushed on and did not compromise. 

Without those difficulties in my personal life, I wouldn’t be where I am now – happy and free. I can speak my mind, do what I want and commit to whatever and whomever I want. People who haven’t been alone for some time or haven’t tried freelancing don’t know that this type of liberty comes with a certain level of personal responsibility and discipline. If you want to create and live in a loving partnership, sometimes it takes facing your fears, going that extra mile, or learning how to stand still and understand that here and now, just as it is, is needed for you. And it is worth it. It’s worth it because, first and foremost, you will find your true self. 

 
TURNING POINT AND NEW INSPIRATIONS 

I have found motivation and inspiration of late from sources such as Bernardine Evaristo’s “Manifesto: On Never Giving Up”, Rick Rubin’s “The Creative Act: A Way of Being” books and “The Andy Warhol Diaries” Netflix documentary series. Together with recent events in my life, I have been able to redefine creativity in my business and personal life and rediscover the freelancer’s mindset. 

After dealing with a manipulative and unethical leadership style at work and experiencing a relationship fueled by judging, I arrived at a turning point. I learned another way of being a legitimate ‘free lance’. No matter how bad you feel physically, emotionally or financially, only you can uplift yourself in order to reach the next level of success. 

Remaining committed to my authentic self was a challenge that led to a discovery. Navigating this period of changes required individual time to reflect, ignoring my previous social life and habits, ignoring my family and friends, and dedicating time to be brutally honest with myself. During this period, I realised that our nature is inherently creative, and true freedom lies in self-expression. This realisation led to new partnerships that nurtured new freedom and trust. Evolution became a constant, fueled by the desire to overcome challenges and embrace change. 

We need obstacles in life to become resilient and unstoppable. Life presents us with challenges. It’s never a smooth ride for anyone, and while nobody wants to struggle, it’s the only way to build our character. I learned that lying to yourself is a highway to hell. I cut off relationships with people who were small-minded and tended to gossip, with people who compared themselves to others and with people who felt superior and judged others. I set my boundaries, even if they sometimes resulted in me being labelled unstable. As I wasn’t dependent on someone while going through this, I soon realised everything would be okay. Life awarded me with situations and people who understood and supported my process of searching and burning, running and arguing, and eventually succeeding and dancing. 

 
FEEDBACK, SELF-BELIEF AND DEFINING “HOME” 

Not worrying about others’ opinions was challenging because I lived off feedback. I love getting feedback and have no problem giving it. Feedback, being essential for growth, must be discerned from manipulative criticism. The transformative power of feedback drives progress in both the professional and personal realms. However, staying true to yourself and having a clear vision is imperative to avoid being influenced by others’ limitations. 

Turning my ambitions into actions required self-belief, focus and a positive attitude. By staying resilient during the latest upheaval, I became stronger. The path forward becomes clear when purpose becomes a commitment to personal work and originality. We carry on the lessons learned as we embrace our unique ways and nurture our growth. We owe it to ourselves. With each challenge we overcome, we strengthen our commitment to our mission and celebrate the journey that transforms us into our best selves. 

The word “Rashomon” has since become synonymous with any situation where there is more than one version of what happened. It is a Japanese word that translates to “a gate in the middle of the woods.” I’ve spent half of my summer in the woods, resetting and understanding what I want next. Adapting to new environments due to frequent moves honed my mental agility. It aligned perfectly with my journey towards true freedom. The search for a sense of home led me to embrace all the tests, making the most out of them to fuel my creativity in personal development. 

Today, I can call “home” several places in the world. Home is where you are and where like-minded people surround you. Choosing the right environment as well as suitable companions is vital. Surrounding yourself with supporters of your creative flow, even in non-artistic tasks, contributes to a thriving environment where everyone can create and share. This always starts with you. 

I’m not who I was yesterday, and I might be different in the future, but what matters is the decision-making in the now. Now, I am grounded in the heritage of my birthland and my experiences during the last decade spent abroad. Now is my focus and my resource. My true identity, I have seen, is linked to being constructive and building things up. It is constantly in motion and evolving. 

Now, I understand that personal evolution is invisible. 
Our mission is already accomplished when we live by creating what we love. 

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A friend of mine, who hopes that one day I change my field and stop wasting my talent and time, recently wrote, “I was thinking the other day that I really don’t like any perfume per se. All of them are just too damn strong. If they are supposed to enhance the person, they should never overpower them, but they always do. It’s like putting lipstick on a pig, but it’s still a pig.”

My friend articulated how I sometimes feel about my job. Communications, in general, is a weird field. It’s something in between politics (one has always to be polite and politically correct), babysitting (taking care of the journalists and explaining multiple times the importance of social media and press gifts to the owners or creators of brands), and style (you kind of need to look, sound, and be an extension of a brand so you don’t lose loyalty points on both sides of the business). And then, how do you measure the results of these three roles? The blood, sweat, and tears one invests in a couple of nice, sometimes forced, words and meetings? The time that’s been wasted or invested? 

Returning to my friend’s expression, I’m not a pig and wouldn’t say I like lipsticks. Unfortunately for my field, I’m pretty honest and direct. And I wouldn’t say I like pigs or eating pork unless it’s the obligatory taste of prosciutto crudo during a celebratory night out with my Italian friends. 

“Pig” is a word that smells. It’s a word that has multiple meanings, is heavy in many cultures, and is even banned within some religions. In his book L’Onesto Porco, which translates to “honest pig,” Italian historian Roberto Finzi explains the meaning of pig from a cultural, religious, and linguistic point of view. Funnily, in Italian, the worst curse words always begin with the word “porco,” which also means “dirty.” Although the smell of the meat isn’t always delightful, and despite the growing trend of vegetarianism, most people in the world still eat pork. 

Most animals become “dirty” when domesticated, while they’re perceived as they are in nature. In this case, anything and everything can become a sign or symbol. This opens up a Pandora’s box of the daily struggles of a semiotician trapped in a product-related communications field. 

I’ve been accused of being too opinionated in this field. Yet if the word “perfume” comes from the Latin “per fumus,” which translates to “through smoke,” one can quickly become volatile when communicating about the subject. To understand a phenomenon, a person, or a sign, one has to create types and detect similarities and differences. Put the subject into a system or a framework so it cannot escape or fade away. There is no reason behind the plain abstraction, an empty expression, or a delusion when discussing scents. 

Michelangelo allegedly wrote, “The greatest danger for all of us is not that our aim is too high and we miss it, but that it is too low and we reach it.” One should always aim high. Communication in perfumery is like leading the blind from the high point. Leading them with passion and honesty, at least in my case. I’m talking about the artistic, truthful, and humble way of speaking about outstanding masterpieces. 

Applied semiotics is ultimately a creative act that helps one communicate and aim high. It involves sharpening one’s frameworks to make them fit a purpose and applying them correctly to a phenomenon. The perfumer evaluates the scent in terms of quality, intensity, and duration of perceptibility. Scent is an entity. Communication of a scent requires the same effort of imagination for its creation. To do this, some power of imagination is required, too. 

There is probably a frustrated novelist inside many semioticians, and once in this field, one needs to know how to write, but more importantly, one needs to know how to read. Reading is a technique for acquiring knowledge and sharpening insight and critical skills. Looking at and comparing the possible differences and similarities, reworks, and copies. Semiotic work tends to be more akin to detective work. It requires a need to be provocative. Semiotic theory fragments work well as hooks to hang one’s thinking. Pop culture knowledge in this field is not only an advantage, but it’s also vital to survival. 

The Main Characters of Our Semiotic Environment are: 

SPEED = messages, responses, feedback, information, execution, rigour, chronicle 

CLUTTER = ideas, content, books, music, events, choices, pattern detection 

UNPREDICTABILITY = accountability, flexibility, constant changes 

DISTRACTION = information overload, concentration, mindfulness 

FRAGMENTATION = the niches, subcultures, the big picture, cultural sensitivity 

IDEOLOGY = critical thinking, competing, changing ideologies 

After wiping away the lipstick and revealing the “dirty way” of reading and analyzing scent communication, the role of intuition becomes clear. Our sense of smell is indisputably primal. Inextricably linked to memory, scent sparks immediate recall and recognition. The most ancient part of our neuroanatomy, the archipallium or archicortex, is our primitive reptilian brain. Hence, there’s no way to complete any perfume detective project without intuition being involved. One of the best definitions for intuition I found in the field of perfumery comes from Edmond Roudnitska, who said, “Intuition is not a miracle; it is a flame which is sparked only if the necessary amounts of knowledge, experience, reflection, and meditation are available. Perfumery schooling calls for patience, attention, and perseverance.” 

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