About 100 new fragrances are launched every year. But the chances of launching the next Chanel No. 5 or Charlie are slim. New fragrances rarely last more than four years on the market, according to Grant. The failure rate is about 90 percent after the first year, and roughly 99 percent after three years. But the odds don't deter companies because consumers always seem willing to try a new fragrance, experts say.
Consumers view fragrance as a way to express their unique personalities, they add.
Hamman explains, referring to Calvin Klein's CK One. While some may scoff at Hamman's fragrance idea, the entrepreneur says he's simply taking a cue from Americans who can't seem to lavish enough luxuries on their pets. I've even seen a white pearl necklace for dogs. The fragrance dispenser, by the way, won't be shaped like Lassie. The Web Copyright 2000 ABC News Internet Ventures.