Floral Street to launch in US market with Sephora
UK niche fragrance label Floral Street will open in the US in August with a debut through Sephora there. The sustainable label, founded by beauty industry veteran and former Estée Lauder executive Michelle Feeney, has registered sales of around £2 million in the last 18 months since its launch and has also launched in Australia in a deal with Mecca Cosmetica.
Feeney told the Telegraph that the US deal took a year of "dating" to seal and should add around £5 million to sales next year. Feeney also said that international growth is crucial as the retail landscape in the UK means it’s almost impossible for new homegrown brands to grow.
“Britain has discounted itself to death,’" she told the newspaper. “These big retailers like Boots expect suppliers to pay for everything - shelf space and promotional activity - and then brands get caught up in their 'three-for-two' discounting.”
The environment means she has scaled back plans to open more stores on top of her Covent Garden location, although she said it’s not specifically due to Brexit or the decline of the high street. Instead she said that a good online business simply means you need fewer physical stores.
She added that she attributes her business’s fast success to its environmentally-aware positioning that matches what the modern consumer is seeking.
The brand is currently available in Germany, Denmark, Sweden, Australia, and New Zealand as well as the UK.
Copyright © 2021 FashionNetwork.com All rights reserved.