Word: millions
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Dates: during 1970-1979
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...taste for strong fragrances to the same craving for identity that makes people want designer names on their clothes. Says he: "The French were wrong when they failed to respond to this need." Whatever the reason, powerful scents are selling. Worldwide sales of Opium are expected to reach $80 million this year, a lot for a brand that has been out for only two years. The top-selling perfume of all, with an estimated $150 million in annual sales, remains Revlon's six-year-old Charlie...
...American scent is the expansion of American ownership of perfume houses. Coty, for instance, is owned by the Pfizer pharmaceutical firm, Pierre Balmain by Revlon, and Jean d'Albret by Max Factor. Globally, sales of U.S.-owned perfume firms exceeded $1 billion last year, compared with $737 million for the French. Girding themselves against further U.S. competition, many older French perfume houses have sought mergers with larger European corporations, and a long moribund national perfume-promoting organization called Prestige has been revived. Says Bernard Lanvin, head of the family-owned firm that bears his name: "Until recently we were...
...trade boycott mounted against Egypt by other Arab nations after the peace treaty signing, Cairo can easily meet its foreign exchange needs. The largest source of funds is the money sent home by Egyptians working abroad; this will total $2 billion in 1979, up from just $200 million six years ago. Suez Canal revenues will bring in $600 million and could rise to $1 billion a year by 1982, after the waterway is widened to allow two-way traffic. Another burgeoning source is tourism, which will yield $700 million this year...
...Jewish-American businessmen. Oil-exploration deals have been signed with a number of Western firms, and hopes are high that new strikes may be made in the Sinai, the Gulf of Suez and the Western Desert. Oilmen reckon that by 1982 Egypt may nearly double its production to 1 million bbl. a day, which would put the country almost in a class with Algeria...
Thanks to its foreign income, Egypt has not been hurt economically by the loss of the $800 million or so in Arab aid it used to get annually, or by the Arab countries' refusal to do business with Cairo; before the boycott, those states accounted for only 7% of Egypt's trade. Arab anger remains high; the Egyptians expect that all of their postal, telephone and telex links to other Arab countries, as well as the remaining airline flights, will be severed in March, when Egypt and Israel plan to open embassies in Jerusalem and Cairo. Still, some...