Home Money Jo Malone’s well-heeled clientele turning its nose up at £300 candles in cost-of-living crisis

Jo Malone’s well-heeled clientele turning its nose up at £300 candles in cost-of-living crisis

0 comment
A blow: Jo Malone saw profits fall 15.7 per cent to £24.4m in the year to June 2023

<!–

<!–

<!– <!–

<!–

<!–

<!–

A blow: Jo Malone saw profits fall 15.7 per cent to £24.4m in the year to June 2023

A blow: Jo Malone saw profits fall 15.7 per cent to £24.4m in the year to June 2023

Even Jo Malone’s well-heeled clientele are turning their noses up at £300 candles amid the cost of living crisis.

The Estee Lauder-owned perfume brand saw profits fall 15.7 per cent to £24.4m in the year to June 2023.

The company blamed pressure on inflation, which has hit demand and pushed up costs.

But the company also warned that “volatility and variability” in retail is likely to continue for some time due to pressure on global supply chains.

Jo Malone faces competition from similar fragrances that cost much less.

The luxury Pomegranate Noir candle with four wicks, which burns for 220 hours, costs £370.

A three-wick pomegranate candle from M&S’s Library of Scent range, which although only burns for 40 hours, costs just £17.

An M&S reed diffuser costs £8 for 100ml, while Jo Malone’s Pomegranate Noir diffuser costs £74 for 165ml.

You may also like