Corporate giants such as Estee Lauder, L'Oreal and Coty have dominated the fragrance market, but could that be about to change?
"Everything smells the same - people are getting bored of the big brands and want something different," says Nick Steward, the London-based founder of a new fragrance brand, Gallivant.
He is convinced that there is a growing appetite for "something more personal that other people don't have".
Mr Steward decided to start his own company after several years as creative director of the trendy Paris house L'Artisan Parfumeur.
"I wanted to do something clever and interesting, avoiding all the froth, focused on the best materials," he says.
He now sells his fragrances online and via specialist retailers in the US, Italy, Germany and as far away as Australia.
The Gallivant range of unisex fragrances are inspired by and named after cities such as Tel Aviv and London.
They are packaged in air-travel-friendly 30ml bottles - smaller than the standard industry sizes.
Mr Steward says that also makes them more affordable, reflecting consumers' desire to have a variety of fragrances to choose from.
Reception from both consumers and retailers has been positive since the launch earlier this year, but he admits the road to profitability will be a challenge: "It's a really tough business to make money in."
He is seeking a slice of the fragrance market - worth about $27bn (£20bn; €22bn) a year globally - but it is dominated by corporate giants such as Estee Lauder, L'Oreal and Coty.