Fabrizio Freda, the chief executive officer of Estee Lauder Cos., could tell the fragrance industry was changing by watching the members of his own family.
His grandfather picked a signature cologne and never changed it, Freda says. But the executive’s son hasn’t shown that kind of loyalty — a typical attitude for younger consumers. If they wear cologne or perfume, they switch between niche brands and opt for smaller bottles.
“The new generation really looks at fragrances as a wardrobe but not anymore as a personal signature,” the 59-year-old said in an interview.
