NEW YORK — There are high-end fragrances — and then there’s a bespoke fragrance project Cartier plans to commence when its 106-year-old store at 13 Rue de la Paix reopens in Paris this December.
The price tag for the limited-edition fragrance is about 60,000 euros, or $72,320 at current exchange rates, according to people close to the situation. The exact size of the bottle, which will be presented in a Baccarat crystal box, has yet to be determined. Industry sources project that 100 of the bottles could be sold, to the tune of 6 million euros, or $7.2 million, in retail sales.
To herald the start of this fragrance venture, Cartier’s fragrancer for the project, Mathilde Laurent, will hold consultations with customers, during which she will custom blend essential oils to create scents that will only be available at Rue de la Paix.
“It’s different, the way we do fragrance,” said Anthony Ledru, assistant vice president overseeing accessories, fragrance and eyewear for Cartier. “We try to keep [momentum] year after year — not launch one men’s and one women’s fragrance each year,” he said. “We believe in long-term bestsellers.”
Ledru, a 32-year-old France native, has overseen Cartier fragrances for the past year — since the Compagnie Financière Richemont-owned firm merged its fragrance, accessories and eyewear businesses. He joined Cartier 10 years ago as a regional manager for the company’s eyewear business in Argentina and Brazil.
Cartier’s most recent fragrance launch was the fall 2003 entry, Le Baiser du Dragon, a women’s scent Ledru called a “pillar” of the firm’s fragrance portfolio. Industry sources estimate the scent has generated $8 million in the U.S. to date. It’s one of seven scents Cartier actively markets. The women’s side of the business generates 60 percent of sales. Also, Cartier launched candles last year.
Cartier scents are carried in about 275 doors in the U.S. and Canada, a market that accounts for between 25 and 30 percent of Cartier’s fragrance business worldwide.
Industry sources estimate Cartier fragrances generate about $35 million in retail sales in the U.S., where the scents are carried at Saks Fifth Avenue; Neiman Marcus; Bergdorf Goodman, which began carrying the scent two months ago; Nordstrom, and Sephora USA.
Related Articles
“Our strategy is not to have 500 doors,” Ledru said of the firm’s wholesale fragrance business in the U.S. “We want to expand space within existing doors [and] maximize selling per door, rather than expand the number of doors.”
When it comes to company-owned space, Cartier has 31 boutiques in the U.S., where, in total, the company has estimated sales of $600 million. It also has a store in Vancouver and another in Toronto. Cartier’s most recent store opening was in Beverly Hills in May, marking its 25th anniversary in that city. Store renovations are planned for Madison Avenue; Chicago; Atlanta; Naples, Fla., and Chevy Chase, Md. Worldwide, there are 1,000 to 1,200 Cartier fragrance doors.
Ledru hinted at future plans for a Cartier women’s scent, which could launch as early as February.