Scents of distinction: How luxury fragrance is seeing some of beauty's strongest growth

Why sales of luxury artisanal fragrances continue to soar amid an otherwise flat market

Return to the fragrance market around five years ago, and the scent of acquisition hung firmly in the air as the global leaders raced to acquire high end perfume brands.

Estée Lauder snapped up Le Labo and Frédéric Malle in 2014, and Puig acquired Penhaligon’s and L’Artisan Parfumeur in 2015.

In 2016, Estée Lauder was back with the further acquisition of By Kilian, then L’Oréal stepped into the action with the purchase of Atelier Cologne.

The following year LVMH took the plunge, with the acquisition of Maison Francis Kurkdjian.

They were wise strategic moves.

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