● The Gen Z fragrance brand will continue to add more fragrances for growing customer preferences
● The company will raise investments, aiming to become a leading player in the Indian fragrance market within 5 years
● The brand will soon be available offline as part of its omni channel strategy
New Delhi, January 2023: The Fragrance industry in India is witnessing explosive growth with the market set to double in the next five years. With a year-on-year growth of 20.03% in 2022, the surge of ‘Made in India’ brands catering to the diverse demands of young audiences is driving the culture of conscious personal grooming.
Riding this wave, Perfume Lounge has already introduced two successful product lines called Taboo (for women) and NOWW (for men). The brand is now introducing two new product lines to add to its portfolio - Gin & Tonic (for women) and Designer Club (for men). All the product lines are available on various e-commerce platforms and its own website. Perfume Lounge develops fragrances based on the latest international trends for the Indian market. Gin & Tonic is the second launch in the women’s category after Taboo and is curated for today’s modern and independent females available at Rs. 1199. Designer Club is new product line for Men targeted towards the fashion conscious and trendsetters available at Rs 1299.
The Delhi based brand is founded by industry veterans Parvesh Bareja, Deepak Agrawal and Shivam Sood. Perfume Lounge aims to bring an extensive range of fragrances for consumers at affordable prices. The company is seed funded and will be raising more capital, projecting massive growth by 2025.
Commenting on the launches, Shivam Sood, CEO, Perfume Lounge said,” The pandemic has created a new breed of consumers that are comfortable buying fragrances online. Simultaneously social media has created a lot of awareness and aspirations for the young consumers to try new products and brands. Consumers now want products that are on par if not better than what’s available internationally. We want to meet this new demand through our data-driven approach in understanding the choices of young Indians. We will develop multiple product lines targeted specifically at various segments of the market.”
Perfume Lounge has product lines like NOWW for men and Taboo for women available on Nykaa and Amazon. The brand will introduce new lines of fragrances in various markets across categories at accessible price points in the coming months.
About Perfume Lounge:
Perfume Lounge is a value-based fragrance brand that is the brainchild of three individuals with over 20 years of in-depth knowledge of the industry. Armed with an impressive execution capability with in-house production, design and sourcing through Helios Packaging Pvt. Limited. The brand collaborates with top quality international fragrance houses for quick new launches in the Indian market. The company raised a round of $250,000 (approx 2cr INR) as seed funding and will soon be raising further rounds of investments. Perfume Lounge is focused on developing multiple product lines in the fragrance space, catering to different micro segments and demographics. The D2C brand sells its products through its website and is expanding its presence on popular e-commerce platforms.
Shivam Sood: CEO for Perfume Lounge has been involved with startups since 2011, he is highly skilled in Digital Marketing, User experience design & Web based technologies.
Pravesh Bareja: Owner of Helios Packaging Pvt. Ltd, India’s leading private label manufacturer for perfumes and deodorants, and an active angel investor. He has also invested in brands like The Man Company, which is a leading player in men’s grooming.
Deepak Agrawal: Involved with the fragrance sector in India since 1997, developed a small family run business into the largest perfume pump manufacturer in India. He has been an active investor and entrepreneur in several consumer facing businesses.
Website - https://www.perfumelounge.in/
No comments:
Post a Comment