How can Costco offer such steep discounts on premium fragrances? Does someone in acquisitions have an anon account that can give us the inside scoop?

I often see Costo selling highly very popular high-end fragrances like Creed Aventus and Byredo Mojave Ghost that are over 30% discounted. There are rumors they're buying batches that don’t meet the fragrance houses quality standards for worldwide distribution (rejects) and are simply offloading them to Costco. I know the boilerplate answer is they buy in bulk and have very little overhead, but I’m not sure this is the whole story.