Titan eyeing 5 per cent stake in perfume segment

Thursday, Jan 29, 2015,20:06 IST By metrovaartha A A A

Kochi | Titan, which launched SKINN, a range of fine French fragrances in India more than year ago, is eyeing a five per cent stake in the country’s market in the next five years. It is estimated that the penetration of perfumes was only two per cent in the country. We are targetting five per cent penetration in India in the next five years, Kalpana Rangamani, Head- Fragrances, Titan Company Ltd, told reporters here today.
SKINN range of perfumes seeks to delight our somewhat forgotten sense of smell. The perfumes launched in Kerala today seeks to transform the way in which consumers view, use and enjoy perfumes, she said.
The company has brought together the best master perfumers in the world to create unique perfumes which were manufactured in France and were available at an affordable price, she said.
While India has seen a huge spurt in several grooming products and accessories, the area of perfumes has not seen a lot of action. Though India has had a long and significant history of usage of perfumed products, the significance of perfumes was lost somewhere with the passage of time, she said. On the size of fragrance market, she said it was worth Rs 15,000 crore to Rs 20,000 crore of which a large part was in the unorganised sector. Only 10 per cent of the market was in the organised sector.
For us it is not the size of business that matters, but to introduce a new daily use product, she said, adding, it was a huge opportunity to introduce the fragrances in the market. Since its launch in October, 2013, Titan has sold over a lakh bottles in 2014.