In 1968 Norell became the first American fashion designer to launch his own brand of perfume, marketed by Revlon. Norell took an active role in making selections for the composition of the new fragrance, which he described as "floral with green overtones." The perfume sold at $50 an ounce when it was successfully introduced in 1968, earning Norell an estimated $1 million. The venture provided him with sufficient funds to buy out his silent partners and become the sole owner of the Norell fashion house. Norell's dominance of the American fashion industry began to decline in the late 1960s as other designers, such as Blass and Halston, rose to prominence, but Norell was widely considered "the dean of the fashion industry" in the United States.