In Paris, fashion catwalks increasingly are being used to launch fragrance and makeup products.

The two-for-one approach makes sense at a time when luxury brands are tightening their belts in response to a sharp slowdown in demand. Not only does a combined fashion show and fragrance launch save on marketing expenses, but it also highlights a brand’s most accessible products.

“This is a crisis period, clearly, so the hunt for revenues is on,” said Eric Briones, luxury consultant and author of the book “Gen Z and Luxury,” published last week. “More than ever, in a context of ongoing hyper-inflation, brands are chasing affluents and Gen Z.”

In that environment, beauty is a strategic asset, and the runway a global platform.