The entertainment world has lost a legend. So has the fragrance industry. Elizabeth Taylor's lightning-rod success with Passion perfume in 1987 inspired more and more stars to jump on the celebrity fragrance bandwagon.

Today, everyone from movie stars to musicians to professional athletes has a fragrance to call their own. Taylor worked in conjunction with Elizabeth Arden to manage her fragrance line. (AP photo)
Here is a statement from Chairman and CEO E. Scott Beattie of Elizabeth Arden, courtesy of PR reports.

"It is with deep sadness that we learned of the passing of Elizabeth Taylor, the legendary actress, activist and businesswoman.  As her business partner in the fragrance industry, we have held her in the highest esteem and have had tremendous respect for her extraordinary compassion, creativity and business acumen.  

"With the launch of her first fragrance in 1987, Elizabeth Taylor's Passion, she built a fragrance empire and one of the most successful brands in fragrance history.  White Diamonds remains a best seller almost 20 years after its 1991 introduction, a testimony to her transcendent and enduring appeal.  Our best tribute to Elizabeth Taylor will be to continue the legacy of the brands she created and loved so much.

"Her sense of humor, passion for life, never-ending dedication and generosity of spirit will be remembered by all of us.  She will be deeply missed."