Why clones smell cheaper than niche if the real cost of juice is pennies?

I keep hearing that the manufacturing costs are a tiny percentage of the retail price of a bottle. And yet, barely any clone smells at par or better compared to the original - I don’t mean how identical they smell - rather the subjective aspects - smoothness, complexity, natural-like scent etc

How come no one has figured out how to sell Creed quality perfumes for $100?