The former Parlux chief told Cosmetics Design of his ambition to build his new fragrance company in a different direction to that of the previous business he headed up, aiming for greater longevity for the agreements.
Speaking of the soon-to-be-announced fragrance deal, Katz said: “This new license will mean a very new direction for the business, and a departure from the type of license agreement I have worked to establish in the past. We want brands that are targeting something unique and different.”
“I consider success for a typical brand from a small company like this to be sales of $10 million to $15 million a year, but because Miss Universe is already of global relevance and aspirational to girls around the world, its annual revenue is projected at $25 million to $30 Million.”
Longer lasting celebrity fragrance licenses
Although Katz did not give any specific details, he says that future celebrity sponsorship is not out of the question, although he would be looking to adopt quite a different approach.
“If we do seriously consider any celebrity license, again we will be looking for something that sets the individual apart from the crowd. In particular we will be looking for celebrities that have an established following and one that would remain loyal,” said Katz.
“Many celebrity fragrance license come and go quickly because the fan base is fragile. We will be looking for a fan base that has been built over a number of years and one that will remain sustainable. We do not expect to see another license like Paris Hilton.”
Miss Universe license built around sustainability
Speaking of the current license agreement with the Miss Universe Organization for the Miss Universe, Miss USA and Miss Teen USA fragrance licenses, Katz underlined that the event is in line with his objectives, thanks to the loyal fan base which has been built over a period of sixty years.
It is also a highly global brand, thanks to the fact that this year there are 89 different countries represented, while the event will be broadcast in 180 countries and anticipated viewing figures of around 1 billion.
“This fragrance can almost sell itself, thanks to the global recognition of the Miss Universe name, combined with exciting packaging and imagery,” Katz said.
“As marketers, we’re taking the opportunity to bring the audience and fan base the flavor of the events in the form of this fragrance range.”
Adapting Miss Universe to different countries
Katz also underlined the fact that the fragrance range can be adapted to individual markets and countries where there is a particularly strong following for the event.
This means that individual fragrances can be created to suit specific market cultures and demands, with packaging designed to support the beauty contestants for specific countries.
Distribution will be in high-end department stores and Katz says he is aiming for annual sales of approximately $25 million to $30 million.