Justin Bieber and Taylor Swift fragrances flop dragging Elizabeth Arden to its biggest ever quarterly loss

Elizabeth Arden Inc, a cosmetics and fragrance company founded by Elizabeth Arden as Red Door salon on Fifth Avenue in 1910 reported the biggest quarterly loss in sales of celebrity perfumes, particularly the Justin Bieber and Taylor Swift brands.

Image Courtesy of THR

Arden’s stock tanked nearly 25 percent on Tuesday after the company cited a worse-than-expected slide in its celebrity fragrance business — namely, two of its biggest stars.

The company said quarterly sales had fallen 28.4%, the steepest drop of sales in a decade, and admitted that weak sales would continue for the next six months, sending its shares plunging more than 20% in premarket trading according to source.

The company posted a loss of nearly $156 million in the past quarter, as well as a loss of $146 million for the the fiscal year ending June 30.

Bieber’s fragrance scents are Girlfriend, Someday and The Key, while Swift has Taylor and Wonderstruck.

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