Cosmetic Executive Women (CEW) hosted their Women in Beauty Series in New York City on April 28 to discuss the timelessness of the fragrance industry with Veronique Gabai-Pinsky, global brand president of Aramis Designer Fragrances, BeautyBank and IdeaBank for The Estée Lauder Companies, and Christine Dagousset, executive vice president of fragrance and beauté for Chanel Inc.

The sold out event allowed attendees to get an inside look at the strategic approach that the fragrance industry takes when creating, nurturing and marketing scents that resist the hands of time.

To introduce the two fragrance experts, CEW chairwoman Jill Scalamandre said, “Of the top five women’s fragrances in 2010, identified by The NPD Group, two are Chanel, and two are Estée Lauder.”

Commenting on the recent post-recession average increase in fragrance sales, Ms. Gabai-Pinsky said, “We see signs of recovery, but the ‘average’ may not be pointing to the true reality of the business. A polarization of the market is happening right in front of our eyes. There is a strong divide between what people consider to be a true luxury, and what people consider commodity…and the things in the middle, well they are struggling. There has been a shift in the understanding of what luxury stands for.”

Ms. Dagousset reflected on Chanel’s strategy to bring fragrance to the forefront of the young consumer’s mind once again.
“We’ve gone back to relying on quality fragrances,” Dagousset said. “We are very loyal to our product, and we want to give our customers more than just fragrance—we want to give them an experience. We need to go back to the roots and recreate that ‘special’ experience associated with wearing a fragrance.”

Ms. Gabai-Pinsky also shared a few of her key principles in the world of fragrance. “Don’t compromise on quality, and don’t launch if it’s not ready,” Gabai-Pinsky said. “Stay true to the brand and the business model. Right now the only battle worth fighting for is reinventing the experience of fragrance. We need to create appetite and excitement, while telling the brand’s story in a very compelling way.”

CEW’s Carlotta Jacobson with The Estée Lauder Companies’ Veronique Gabai-Pinsky and Chanel’s Christine Dagousset.

Givaudan’s Karen Flinn, Kate Greene and
Jenine Guerriero with The Estée Lauder Companies’ Karyn Khoury (2nd r.).

FASHIONetc.com’s Jack Rotherham and
Jessica Scaildone.

Romane Fragrances’ Renee Bukowski and MarieAnna Ferdinand (2nd r.) with Takasago’s Valerie Belmont and Robin Lane.

Givaudan’s Cos Policastro with Chrysallis’
Jill Scalamandre and Paul Austin of
Austin Advisory Group.

Chanel’s Einat Kleiner, Christine Dagousset
and Julie Thibault.

NPD Group’s Lori Monaco with Gurwitch Products’ Claudia Poccia and Avon’s Jeri Finard.

IFF’s Yves Cassar and Mehdi Lisi (r.) with Veronique Gabai-Pinsky.

Sandra Cicio with Ralph Lauren Fragrances’ Guillaume de Lesquen and Givaudan’s
Michelle McCabe.

Firmenich’s Frank Voelkl and Bart Schmidt (r.) with The Estée Lauder Companies’ Trudi Loren.

Veronique Gabai-Pinsky with her husband
Joel Pinksy of Violight.

Robertet’s Jérome Epinette and Pierre Wulff (r.) with Byredo’s Ben Gorham.

The Estée Lauder Companies’ Lynne Greene with Claudia Poccia.

Women’s Health’s Ellen Cummings with
L’Oréal Paris’ Tennille Kopiasz.

Chanel’s Jenna Hershey, Kara Andrea,
Ruthie Vexler and Kate Shone.