Apparently no one wants to smell like Justin Bieber or Taylor Swift. Perfume giant Elizabeth Arden’s stock dropped 25 percent on Tuesday, and the company is blaming it on the major tank in sales of two of its biggest name celebrity perfumes: Biebz and T. Swift.
According to the "New York Post," sales for the quarter ended on June 30th and experienced a 24.8-percent drop from last year, topping off at $191.7 million. The company said in a statement that Swift and Bieber’s scents suffered a serious decline in sales resulting in the company’s stinky financial situation.
BusinessInsider said that the company would focus on “stabilizing business” to “rebuild profitability,” but would still be “challenged by the same factors that that affected recent quarters.” So clearly Bieber and Swift aren’t going anywhere… yet.