Yesterday, Merit, the minimalist beauty brand founded in 2021 by industry veteran Katherine Power, is making its debut in the fragrance world with the launch of Retrospect Extrait de Parfum. Known for her work cofounding WhoWhatWear and launching skincare brand Versed, Power’s new fragrance venture reflects Merit’s data-driven approach to product development. Retrospect, priced at $92, is a vintage-inspired scent with notes of vanilla, aldehydes, pear, and jasmine, created in collaboration with IFF perfumer Fanny Bal.
The decision to enter the fragrance market was influenced by a 2022 customer survey, which revealed fragrance as the top category consumers wanted Merit to explore. This move follows Merit’s successful expansion into skincare with the Great Skin Instant Glow Serum and a subsequent moisturizer launch.
Power emphasized the brand’s careful, data-backed approach to product launches, ensuring a sizable market opportunity before investing. Merit’s overall sales surpassed $100 million in 2023, with no single product contributing more than 20% of revenue.
While there have been reports of Goldman Sachs being brought in to explore potential deal options, Power confirmed that the brand is not currently for sale. Instead, the focus remains on growing the business, with Power viewing bankers as strategic partners for long-term planning. Industry estimates suggest Retrospect could generate $5 million in its first year.
