The perfume business suddenly stinks -- and it's all Taylor Swift and Justin Bieber's fault!
Elizabeth Arden, one of the world's biggest fragrance makers, saw its stock go into the tank this week, with shares dropping nearly 25 percent in value.
Execs blame wildly unsuccessful scents from the two singers. In explaining a sales drop of nearly 50 million bucks, the company said, "The decline in sales of celebrity fragrances, particularly the Justin Bieber and Taylor Swift fragrances, was steeper than anticipated."
Bieber’s Arden-made scents include Girlfriend, Someday and The Key, while Taylor Swift peddles Taylor and Wonderstruck.
I'm not sure which stinks more, Taylor's perfume or her new song "Shake It Off".
-Matt Gilcheck, on Twitter @B93Gilly
Source: New York Post
Photo Credit: Getty Images