Smells like teen apathy.
There’s a reason why fragrance maker Elizabeth Arden’s quarterly sales plummeted a whopping 28%.
Blame Canada’s wannabe bad boy, Justin Bieber.
Apparently, no one wants to smell like an egg-throwing, pot-smoking, overgrown delinquent.
Elizabeth Arden — which markets several celebrity perfumes endorsed by the likes of Bieber, Taylor Swift, Britney Spears and Nicki Minaj — on Tuesday said its second quarter sales stunk due in large part to weak sales of the Bieber and Swift brands.
The company said it had expected lower sales this year because of fewer fragrance launches compared to 2013.
But “the decline in sales of celebrity fragrances, particularly the Justin Bieber and Taylor Swift fragrances, was steeper than anticipated,” the company said in a statement.
The loss was Elizabeth Arden’s worst quarter since 1996.
Its shares fell 23% to $15.05, the lowest level in four years.
