Today, according to reports, luxury perfume brand Amouage is projected to achieve a 24% annual growth rate in 2023. Amouage stated that its strongest markets continue to be Oman, the United Arab Emirates, the United States, and China, collectively accounting for over 40% of the total revenue. Over the past three years, Amouage’s annual retail sales have more than doubled, surpassing $210 million.
In terms of market performance, the European market witnessed a significant surge in sales by 39%, driven by flagship stores in department stores. Additionally, the Asia-Pacific region experienced a growth of 28%, while the Americas saw a growth of 21%. In the Gulf Cooperation Council region, particularly Oman and the UAE, sales increased by 33% and 30% respectively.
In 2023, Amouage launched new concept stores in China, the United States, the UAE, travel retail, Malaysia, and Oman, contributing to a 27% increase in sales at Amouage boutiques. Simultaneously, online sales on the brand’s official website grew by 31%.
Amouage CEO Marco Parsiegla stated, “The sales record we achieved in 2023 highlights the strong demand for all our product lines. Despite the macroeconomic uncertainties, we have maintained a robust performance, reflecting our steadfast commitment to creativity, quality, and accessibility in terms of our products and distribution network. New product launches have become our best-selling product range worldwide, further solidifying Amouage’s position as one of the top-performing luxury fragrance companies.”
It is worth noting that Amouage currently operates 14 standalone boutiques and plans to open more independent stores in Asia, Europe, and the Gulf Cooperation Council region by the end of the year.
