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First there was the lipstick effect. Now Coty Inc.’s chief executive officer Sue Nabi is all in regards to the fragrance effect. Despite recession fears and sky-high inflation, Coty’s prestige fragrances have been flying off the shelves, with particularly strong performances from Hugo Boss, Burberry, Chloé, Calvin Klein and Gucci Beauty, which delivered 20 percent growth within the fourth quarter and helped the general prestige sector to grow of 16 per cent year-over-year, to $662.8 million. “Fragrances speak to everyone – regardless of the age, regardless of the gender ,and what we've got seen, which is the truth of the info and statistics, is that this beauty market is lifted by the fragrance consumption and this isn't female or male. It’s each...