Welcome to Local Heroes, our column dedicated to emerging local and national brands across all categories and geographies.
Today’s spotlight falls on Goldfield & Banks, a pioneer of niche perfumery in Australia, with a mission to “capture the feelings of Australian botanicals and the land they grow on.”
The Goldfield & Banks story began when French/Belgian entrepreneur and long-time beauty sector specialist Dimitri Weber set out to develop a fragrance house centred on natural botanical ingredients, some of which have never been used in modern perfumery.
A memorable visit to Australia in 2016 made him fall in love with the continent’s natural beauty and set him on a mission to create a collection of fragrances that would make these Australian essences shine. In fact, the name Goldfield & Banks was inspired by Australia’s first botanist and naturalist, Joseph Banks.
Describing the brand, Weber says: “Goldfield & Banks is the first Australian luxury niche perfume house, and considering the quality of ingredients we use and the calibre of the perfumers we work with, I believe we are also the finest.”
Weber first launched in Europe and in the US in stores such as Barney’s (2018), Bloomingdale’s and Selfridges (2020) before focusing on Australia where the brand is sold in Sephora. Sales doubed in 2020 and tripled in 2021 and the brand is available today in approximately 400 stores across 30 countries.
Travel retail is playing an increasingly prominent role. Goldfield & Banks took its first steps in the channel with former Melbourne Airport duty free retailer with Dufry and then at Sydney Airport with Gebr. Heinemann. A big Asia expansion is ongoing.
In this interview, Founder and CEO Dimitri Weber discusses the native Australian botanicals which inspired the creation of Goldfield & Banks, the brand’s ambitions in travel retail and why he believes Goldfield & Banks can put Australian perfumery centre stage globally.
Tell us a little bit about yourself and your brand. What led to the creation of Goldfield & Banks?
I originally had the idea for Goldfield & Banks almost ten years ago when I visited Australia for the first time. Back then there was no perfumery happening in Australia, which was a shame since there are so many truly amazing native essences found here.
From that point it was really a journey of discovery for me, with a lot of travel around the country to visit growers, sample oils, and really begin to capture the feelings of Australian botanicals and the land they grow on.
Who is your key target audience?
The main customer for us is someone who dreams of Australia – the lifestyle, the landscapes, the culture. And that very much includes Australians, as this idea of idyllic Australian life is as popular here as it is internationally.
What are your ambitions in terms of travel retail and how can you stand out in this channel?
Global growth. We are currently focusing on Australia and New Zealand for travel retail, as these local markets make the most sense right now. People visit Australia because they love it here, which also means they will probably love our collection. Goldfield & Banks perfumes are the perfect way to remember Australia, and of course are also great gifts for loved ones at home.
The collection stands out because of the rich and beautiful botanicals we use, and also because the perfumes are completely distinctive but also not too avant-garde, and I think people really connect with that distant familiarity.
What USP does Goldfield & Banks offer in the niche fragrance category?
Goldfield & Banks is the first Australian luxury niche perfume house, and considering the quality of ingredients we use and the calibre of the perfumers we work with, I believe we are also the finest. Australia is one of the newest frontiers in the fragrance world, and it excites our clients that they can access this beauty and richness from anywhere in the world.
Essences like Tasmanian Boronia, Blue Cypress from the Northern Territory, and Agarwood grown in Queensland (yes, really!) set us apart and give people a direct link to the ancient and stunning beauty of Australia.
What are the biggest challenges you’re facing as a new brand entering travel retail?
As one of the new faces in the perfume industry, brand awareness can be challenging at times. This is challenging not just in travel retail but in other channels too.
Why do you think airports and retailer should be investing in newness in the channel?
Niche perfume houses like Le Labo, Maison Francis Kurkdjian, and Goldfield & Banks are now entering the collective consciousness, and these familiar-but-not-blasé names are attracting the eyes of travellers who want something different and special. Sticking to bigger names might have been a working strategy ten years ago, but I think that is changing fast.
A lot of people chose to purchase smaller luxury goods during the pandemic. Instead of houses they bought cars, instead of bags or watches they bought perfumes – so the category saw a real boost over the last few years. And since people spent so much time at home with perfumes, I think they started to develop more niche tastes, which made them move a bit away from the designer brands that have dominated the industry for so long.
As travel and travel retail continue to recover, a lot of travellers are asking for niche brands. To increase sales, these brands are being introduced to airports more and more.
What does a good partnership look like to you in travel retail?
A good partnership is established long term and focused on delivering the same quality of brand experience with local markets. I want to give special thanks to Gebr. Heinemann for allowing Goldfield & Banks to be presented with a fully customised corner in their new Luxury Precinct at Sydney Airport departures.
What more can retailers do to enhance the appeal of your category to travellers?
We need to work together to promote novelties, invest in well-trained beauty advisor teams and develop formats that are adapted to the needs of the modern traveller. ✈
