Start-up smells avenues in luxury fragrance biz

Manan Gandhi, the founder talks about his plans for the brand and the importance of the state as a market and source for raw materials. The Indian perfume market is currently pegged at Rs 2,000 crore, which is growing at a compounded annual growth rate (CAGR) of over 30 per cent. Organised perfume retail constitutes about 70 per cent of this market. Manan says, “We are one of the few homegrown luxury fragrance brands and hence see a very strong growth potential. The top contributing cities for business are typically metros –  with Mumbai and Delhi giving us a chunk of the business. 

We’re expanding with an offline retail presence in cities like Chennai, Kochi, Hyderabad, Kolkata, Bengaluru and Jaipur. We have eight retail partners, and our strategy is to collaborate with likeminded retailers across cities.” Talking about the significance of TN as a market, Manan tells us, “Two of the most important ingredients that we use in our fragrances- jasmine and tuberose are sourced from Tamil Nadu. 

Our fragrance Madurai Talkies is an ode to the beautiful jasmine that is sourced from Madurai. The tuberose is sourced from Coimbatore which is another ‘hero’ ingredient in our fragrance Moire – the most popular and distinctive variant in our women’s range.” He adds, “We’ve recently launched at Chamiers and are seeing an encouraging response from Chennai. We plan on increased activations there to boost sales as it’s an important market for us. Our perfumes are stocked at concept stores that cater to an audience of a certain refined aesthetic. In Mumbai, we retail out of Le Mill; in Bengaluru - at Fervour; in Kochi-Pepper House; and in Delhi- Vayu. The company is currently working on a new range of products in the personal care and home space. 

“We will be launching them by the end of the year. The new products will give our customers additional ways to discover our brand at a more inclusive price point.” Manan believes that this is a great time for homegrown brands to be in the luxury business. 

“The market is currently pegged at $18.5 billion and the growth is being fuelled by rising internet penetration and the rise in aspirations of the salaried class – both positives for a new entrant like us which is also looking to expand online retail. It’s a great time to experiment as there’s a market for newer brands that are accessible and have a unique product,” he sums up.