Would you order a perfume-inspired cocktail? That's just one of a few unconventional concepts stimulating the centuries-old fragrance industry as companies seek to spice up their product offerings.
"Faced with lackluster market prospects in fragrances, several players are actively engaging in radical novel concepts in their bid to drive a fundamental change in the way fragrance players compete," Nicholas Micallef, beauty and personal care analyst at Euromonitor, said in a report this week.
Competition is cut-throat in the $30 billion global perfume industry. More than 100 new fragrances are launched each year, making it difficult for a brand to stand out, according to Euromonitor.
Here are two new emerging concepts that could revitalize the saturated market.