No review on this one today. Already did my review in the past. I will say, this is an absolute banger of a fragrance. Love at first sniff for me....

The biggest industry story is consolidation and control of major fragrance licenses, while overall fragrance growth is beginning to normalize after several unusually strong years. Puig remains independent—and is still growing Puig reported 4.4% like-for-like revenue growth for the first half of 2026, its first major financial update since merger discussions with Estée Lauder ended in May. The numbers suggest Puig does not urgently need a deal, although fragrance growth is slowing from the extraordinary post-pandemic pace. Travel retail is also being pressured by geopolitical instability, particularly in the Middle East. Why it matters: Puig controls one of the strongest fragrance portfolios in the industry—Rabanne, Jean Paul Gaultier, Carolina Herrera, Byredo, Penhaligon’s, L’Artisan Parfumeur and Charlotte Tilbury. Remaining independent preserves its identity, but the merger discussions show how valuable fragrance portfolios have become. L’Oréal is becoming an even larger fragrance power L’Oréal completed its acquisition of Kering Beauté, including Creed, in March 2026. It also secured long-term beauty and fragrance licenses for Bottega Veneta and Balenciaga. The company has now announced a 50-year Gucci beauty license, beginning July 1, 2027, after Gucci and Coty agreed to end their arrangement early. L’Oréal reported 6% like-for-like growth in the second quarter, while L’Oréal Luxe grew 4.7%. That compares favorably with weaker perfume-and-beauty results reported by some traditional luxury groups. My take: L’Oréal is building what may become the industry’s most complete luxury-fragrance machine. It now has couture blockbusters, prestige collections, Maison Margiela, Aesop, Valentino, Prada, YSL, Armani, Mugler, Viktor&Rolf and Creed—with Gucci, Balenciaga and Bottega Veneta strengthening the future pipeline. Coty loses Gucci at a difficult time The early termination of Coty’s Gucci license is significant. Gucci has not recently dominated fragrance the way it once did, but it remains one of the world’s most recognizable luxury names. Losing it removes an important long-term asset from Coty’s fragrance portfolio.