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LUXURY TAKES UP THE CHALLENGE OF THE NEW GENERATIONS

The luxury market, whose main consumers are the United States and China, reached $309.6 billion in 2021 and is currently estimated to reach $382.6 billion in 2025, with an expected growth of 5.4% on average per year, over the period. Worldwide, the global crave for luxury products within the beauty industry has been constantly growing, pushed by consumers looking for premium-based, high-quality, lab-tasted alternatives to traditional products. In France and worldwide, the beauty, personal care and luxury cosmetics sector is constantly growing. Indeed, in 2020, the global luxury cosmetics market was valued at $45 billion and estimates for 2030 are around $60 billion, an increase of 30%.

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A new trend is emerging in the luxury sector with the growing appetite of new generations for these products. According to many experts, the under 25s represent the most significant consumer segment. Digital, consumer experience, brand detachment, etc. Millennials have completely disrupted the economy.

 

The adaptation of luxury brands to the new generation

The "new luxury", which has become more accessible thanks to financial globalization and the arrival of digital technology, must now seduce customers who are less and less loyal to companies, but who still expect more. With the financialization of economies and the globalization of trade, the luxury sector has become more democratic without losing its characteristics: rarity, selectivity, aestheticism and exclusivity. Now, the big names in the sector must offer more advanced interactive experiences to attract new generations and provoke emotion by combining know-how and imagination.

In response to contemporary trends, major luxury brands have changed their selling proposition, while retaining the experiential character that defines it. Covid-19 has encouraged the growth of online sales and stimulated the digitization of the entire luxury shopping journey. Stores are going online or often becoming bespoke spaces for the customer. 

With the evolution of social networks over the last few years, the new generations want to have a sense of belonging to the luxury world. These young players no longer just buy a product, they carefully choose a brand because it encompasses their lifestyle and values. The big brands have understood that social networks are becoming more and more important in this universe and can offer individuality and personalization occasions catering the needs of such consumers.

This perpetual search for individuality and personalization pushes brands to launch new products on the market and multiply the references in production. 

 

Citus Kalix experience with the world of luxury

Our long-standing partnership with many leading luxury brands has enabled us to enrich our expertise in perfume and cosmetics packaging. We are constantly seeking innovation in order to offer our customers services that combine superior quality, protection and optimal performance. Integrated into our machines, the "white glove" approach is part of the Citus Kalix DNA. It consists of protecting the most sensitive products and their packaging throughout the production process.

To reply to the complexity of brands producing more and more references for each market, Citus Kalix has specially developed the KP Fragrance: the most innovative cartoner dedicated to perfume bottles operating at 60 cartons/minute. This machine, designed to handle multiple formats, offers fully automatic settings of the main functions to provide maximum agility and flexibility. 

The extremely fast changeovers offer a real comfort for brands that can alternate between mini-series and long productions, without losing time. This novelty, which meets the needs of high-end perfume brands, is therefore able to produce multiple references with maximum efficiency.    

 

If you want to know more about how Citus Kalix can support your needs, do not hesitate to contact us. 

Reference: Melanie DESJEUNES / melanie.desjeunes@citus-kalix.fr / +33169874646

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