“The king of home fragrance” is an admittedly lofty title, but one that longtime retail executive Harry Slatkin has thoroughly earned after more than three decades of working with major players like Bath & Body Works, QVC and more recently, Walmart. Slatkin co-founded Slatkin + Co with his wife, Laura Slatkin, who is also the founder of Nest Fragrance, in 1992. Over the years, Slatkin & Co has built a reputation as a premier home fragrance company, working with over 150 brand
brands from luxury names like Ralph Lauren and Christian Dior to more accessible retailers like Dollar General.
After selling the business to Limited Brands in 2005, Slatkin went on to become the company’s president of home, overseeing and directing all home fragrance development for Bath & Body Works and successfully growing the business to over US$1 billion during his five-and-a-half-year tenure.
Today, the “king of home fragrance” continues to disrupt the world of home fragrance with fresh celebrity collaborations and exciting new product launches distributed by big-box retailers.
Inside Retail: How did you get your initial start in the world of fragrance?
Harry Slatkin: It was by accident that we [Laura and I] ended up going into home fragrance.
[At the time] my wife and I were getting married and we were both working in finance.
I was working in Wall Street at Bear Stearns and my wife was working at Lehman Brothers, and while we were good at [finance], we really didn’t love this field.
[It was after] my brother [Howard Slatkin], an interior designer, gifted a client of his with a candle that we realized how fragrance really gave a home a sense of completion.
At the exact same time, Rose Marie Bravo, the first female president of Saks Fifth Avenue and former CEO of Burberry, was turning the company [Saks Fifth Avenue] around, and one of her very first projects was to launch us.
We ended up working with over 150 brands from Ralph Lauren to Chopard to Christian Dior. All those brands that we launched [home fragrance collections with] changed the home fragrance business.
People were just starting to use it as an everyday product, so that’s really how we began.
IR: How did the moniker “the king of home fragrance” come about?
HS: The New York Times actually gave me that name.
While I have a bit of an ego, my ego is not that big to put that crown on my head, but luckily, The New York Times gave it to me.
I think I own that because, over the last 32 years, my wife and I have built up the home fragrance industry.
Not only did we create the number one luxury home fragrance brand [ Slatkin + Co] with products distributed at Bergdorf Goodman, Saks Fifth Avenue and so on. But when we sold the company to Limited Bands, I went built one of the largest home fragrance companies in the world today.
I think the king title really comes from the fact that no one has ever come close to the level of home fragrance, be it with the quality of the scent or the distribution capabilities, we have built.
I’m proud of that title, not for the ego, which I have, but because I’m really proud of the fact that so many people have been touched by what we do and it’s changed their lifestyle.
IR: Obviously, there have been a lot of shifts within the fragrance industry, especially in light of the last five years, that have shifted how consumers purchase fragrance. From your perspective, how has the industry changed from when you first entered it?
HS: What has changed is that it’s just gotten more sophisticated.
When you think of the internet and how we see influencers talking about fragrances on a daily basis, we have seen consumer awareness of fragrance and ingredients grow.
The big tsunami that’s happening now in home fragrance is largely due to Gen Z and then Gen X, because they grew up with their parents using a candle on a daily basis. I didn’t, I just lit my own fragrance for my mother when she was entertaining.
With Gen Z, I’ve seen 12-year-olds that could be a key speaker at a summit on fragrance. They read about products and can understand if you’re trying to fool them.
Back when I was on Oprah Winfrey’s Christmas show, the thing I loved most about Oprah was that she didn’t talk down to her consumer. It really bothers me when people talk down to a consumer. It doesn’t matter if I’m working with a Dollar General or an Ulta, I treat consumers as equally special.
IR: Speaking of Oprah, over the course of your 30-plus-year career, you’ve had the opportunity to work with quite a few celebrities. Out of all these memories, what has been one of the top moments in your career?
HS: When it comes to that part of my career, I would say one of my top collaborations is with Elton John [and QVC], whom I became friends with 28 years ago when he bought our candles. I believe it was US$38,000 worth of candles when I first met them.
We also used to sneak Princess Diana candles in Kensington Palace. I remember when I met her, she said something that especially stayed with me, because my wife and I have a foundation [Next for Autism].
She [Princess Dianna] said that with all the work that she’s done, if she can just change one life, that means it’s all been worthwhile.
Every day I think that if I can touch one person, then that means everything I do, whether it’s in business or my personal life, has been worth it.
IR: What is a piece of advice you would give to brand founders who are just starting out but aim to step into your shoes one day?
HS: Believe in yourself, your product and don’t let the “down” get you to stop.
There’s going to be a lot of down moments, you’ve got to keep very positive, you’ve got to stay focused and just remember to be proud of who you are as a human being.
Be proud and kind. Kindness will get you everywhere.
I’ve come across everything in the industry and I won’t deal with rudeness. Not in myself, my company or from other people, even if that means stepping away from business.
Honestly, if you just stay true to that kind of ethos, you’ll succeed.