NEW DELHI — The huge potential of the Indian market, with its one-billion-plus population, is bringing more and more foreign perfume brands to its shores.
The latest to enter the arena already crowded with domestic and foreign brands is French company Lanvin, which has signed a marketing agreement with Mumbai-based Baccarose Perfumes and Beauty Products Pvt. Ltd.
At a product launch in Mumbai, Dominique Bletry, Lanvin’s export manager, said Baccarose would exclusively market Lanvin’s fragrances at 20 premium retail outlets in India. Baccarose will initially deploy 20 consultants trained by Lanvin at these outlets, and the number is expected to rise to 40 in a year’s time.
Bletry said Lanvin is introducing a range of perfumes for both men and women in India, including “Lanvin,” “Arpège,” “Oxygen” and “L’Homme.” As these are premium products, they are priced between $41 to $94, or 1,900 rupees to 3,500 rupees, for packs ranging from 30 ml. to 100 ml. in size. Dollar figures have been converted from the Indian rupee at current exchange.
Bletry said the quality of the distribution and retail network had improved considerably in India over the past two years, and consumer awareness toward international brands also had grown. These factors had prompted Lanvin to enter the country.
While India has a population of over one billion, the use of perfumes and deodorants is still an urban phenomenon, with the bulk of sales coming from the big metropolitan cities. Domestic and foreign companies are bombarding Indian consumers with a range of choices in both perfumes and deodorant categories. About 40 foreign brands are already available in India.
Estimates of the size of the Indian market vary widely, with studies estimating it anywhere from $43 million to $389 million, or 2 billion to 18 billion rupees, with growth expected between 20 percent and 25 percent a year.
Bletry said Lanvin is not expecting high-volume growth immediately. The company is targeting just 0.3 percent of the population, or 30 million, who can afford to buy premium-range fragrances. Lanvin executives said they are confident that it will break even in two years.
Lanvin also is considering introducing its range of premium watches and accessories such as leather goods, ties and scarves in the Indian market later this year, according to Bletry.
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