One of beauty’s buzziest categories got a commensurate celebration Thursday, with key industry leaders heading to Lincoln Center for the 2026 Fragrance Foundation Awards.

As hors-d’oeuvres floated and Champagne flowed, it was clear that despite raw material costs, inflationary pressures and consumer habits changing at breakneck speed, many leaders are more bullish than ever.

“The market has been very dynamic. The consumer is very excited about newness, but is also excited about heritage products. We really see this in our product range. It’s an ever-changing market and it’s very exciting,” said Silvia Galfo, president of L’Oréal USA’s Luxe division, which took home award after award for Prada, Yves Saint Laurent Beauté, Valentino and Miu Miu. Galfo is planning on keeping momentum high. “It’s a big second half for us. Great launches coming, and a lot of interesting different stories.”

“The boom is booming,” said Sarah Curtis Henry, general manager of Armani and Valentino Beauty at L’Oréal Luxe for the same geography. “I’m seeing an incredibly vibrant fragrance market. New consumers are entering the market every day. I’m seeing new ideas, new ways of animating, new trends forming, and that’s going to continue.”

That seems to be true across price points. “It’s the most exciting, youthful, innovative category we can be in,” said Daniel Heaf, chief executive officer of Bath & Body Works.

The ceremony itself was presided over by the foundation’s president Linda G. Levy — just after outgoing chairman Jerry Vittoria gave the final introduction of his tenure.

“Fragrance has continued on its path of growth and leadership in the beauty world. Our beloved craft continues to capture the heart, soul and imagination of our consumer like no other category,” Vittoria said. “We all love what we do, and we do it through unbridled creativity and innovation, and it is a tremendous accomplishment to reach such heights of popularity.”

Levy took a moment to announce the presenters of the evening, who included Iman, Michelle Pfeiffer, Dwyane Wade, Cassandra Grey, designer Wes Gordon and more.

“This is truly our biggest night ever. It’s a sold-out crowd once again and the presentation of the awards has several high points,” said Levy, which included tributes to the late Giorgio Armani and Valentino Garavani, Nordstrom Inc.’s induction into the Hall of Fame and Dsm-Firmenich’s Honorine Blanc receiving the Lifetime Achievement Perfumer award.

Nordstrom’s chief merchandising officer, Jamie Nordstrom, took to the stage after an introduction from Jane Hertzmark Hudis, executive vice president and chief brand officer of the Estée Lauder Cos. “I’m a shoe salesman,” Nordstrom joked, “And I used to be very jealous of the people selling fragrance across the aisle because it looks very easy compared to selling shoes. I’ve since learned it’s a bit harder than that.

“We’ve been able to grow our fragrance business because it’s about the people, and it’s about the people that are serving the customer,” he continued. “You don’t build loyalty through price and promotions, you build loyalty by doing a good job for the customer.”

For Blanc, who grew up in Beirut and moved to Paris before settling in New York, the honoring was personal. “Thank you for standing by me all these years, and for witnessing that I’m living proof that the American dream still exists,” she said.

Fragrance is a category of opportunity indeed, said LoveShackFancy’s Todd Cohen. “Our customer just keeps wanting more, and Sephora has been an amazing partner,” he said. “They’ve helped us expand into a category we always dreamed of getting into.”

In the department store channel, it’s still a boon. “Fragrance is on fire at Bloomingdale’s,” said Marissa Galante Frank, the retailer’s fashion director. “We love niche fragrance, body products, it’s a lot about scrubs, lotions, hair mist. There’s a lot more going on than just traditional fragrance.”

Storytelling is a key driver, said Lori Singer, president of Parlux, who took home a consumer choice award for Billie Eilish’s Your Turn. “Fragrance has become one of the most powerful forms of self expression, and when I think about consumers, they’re not just buying a fragrance or a scent, they’re buying a community and emotional connection,” she said. “For us, with Billie, she owns her narrative, and when we launch, it’s her to her fans. It’s not a brand talking, it’s Billie talking to her consumers and the consumers are at the heart of everything we do.”

And though the gold rush is well underway, Givaudan master perfumer Rodrigo Flores-Roux acknowledged that a little restraint wasn’t a bad thing. “You get bombarded with so many ideas and brands and comparisons, and you’ve got to keep your cool,” he said, acknowledging there were challenges not only with brand differentiation but even with raw materials.

In partnership with D.S. & Durga cofounders David Seth Moltz and Kavi Ahuja Moltz, “We need to find a way to do it our way,” Ahuja Moltz said.

But nevertheless, David Seth Moltz believes a rising tide lifts all boats. Or, as he simply put it, “There’s so much cool s–t happening.”