We thought $590 mascara was outrageous, so imagine our surprise when we discovered a $5,000 bottle of perfume. That's a high price to smell nice!
Yu, which means rain in Chinese, is the luxury scent by Mane, and it was given the sniff test by New York Times perfume critic, Chandler Burr.
"It's actually very interesting, aesthetically gorgeous," he said. "You can smell the money in it. It's almost a fresh quality, like using a very good toothpaste."
But is it worth such big bucks? He doesn't think so. "$5,000 is marketing, just increases the marketing campaign."
We've seen a bounty of luxury products hit the market at steep prices, but an even higher demand for them. There are women willing to give out $260,150 for a hand bag, and even die hard music lovers willing to fork over $20,000 for an iPod shuffle.
But OK, you're thinking, those items could be investments, or items to pass down to future generations. Perfume doesn't last long, it's a short lived pleasure. If that's what you're thinking, you obviously haven't heard of the world's most expensive cocktails, or the $14,500 dessert!
$5,000 Perfume
Mane Makes Yu Smell Rich
Trend Themes
1. Luxury Fragrances - There is an opportunity for luxury fragrance companies to create high-end scents and market them to wealthy individuals.
2. Premiumization in Consumer Goods - The trend of premiumization in consumer goods will continue, with companies offering top-tier products at exorbitant prices.
3. Limited Edition Products - Limited edition products with a high price tag have become desirable among consumers looking for unique experiences.
Industry Implications
1. Luxury Goods - The luxury goods industry can capitalize on the trend of premiumization by offering high-end fragrances at a premium price.
2. Consumer Goods - The consumer goods industry can offer limited edition products for consumers looking for unique experiences.
3. Perfume - Perfume companies can create high-end fragrances with unique packaging and marketing to appeal to wealthy individuals.