The luxury candle market is booming.
Racked takes a long look at this pricy, perfumed market niche. You see, apparently people are too damn good for your straightforward cozy mall-brand candles anymore:
“The days of buying inexpensive Yankee Candles are over,” echoes Andy Kindfuller, the CEO of ScentAir, a scent marketing firm that works with clients like Westin, JW Marriott, and Hugo Boss to pair scents with brands. “We’ve moved beyond that. People now want excellent fragrances that demonstrate wonderful luxury.”
And so the article outlines the rise of brands like Diptyque, which commands $60 for a 6.5 oz “standard” candle (as opposed to their limited-edition holiday offerings) and Cire Trudon, which has been in business since the 1600s and “is often referred to as the ‘Rolls-Royce of candles,’” apparently.
But the demand for very, very fancy candles has also created a market for candles which are merely very fancy:
Diptyque’s popularity has influenced the success of luxury companies like Cire Trudon, but it’s also “caused a trickle-down effect to produce lower-priced candle brands,” says Kline & Company’s Doskow. “Diptyque has given way to less expensive candle companies, which we refer to as premium candles. The middle tier is new and growing — now, there are more and more people willing to spend $25 on a candle.”
So, those are the latest innovations in literally burning your money.
Contact the author at firstname.lastname@example.org.