India is opening up for bespoke perfumes says Anil Panda
In an exclusive conversation with Anil Panda, co-founder 3003 BC shed light on emerging fragrance market in indiaBY Shipra Srivastava | September 21, 2017 | comments ( 0 ) |
How do you see perfume market is growing in India? Also among this what would be the estimated share of bespoke perfumes?
The market for Luxury / premium fragrances is growing at 15% albiet of a low base. Though there is a robust Duty Free market which is not accounted for in the figures.
Bespoke is a new market and we are hoping other players also come in. It will help the industry in the long run. As with top end luxury the market is never accounted for in total size.
Kindly shed light on 3003 BC in international market? What kind of distribution the brand will see in India?
Bespoke fragrances anywhere in the world is a service. And the bulk of it happens in client’s home or over the phone/web. I have clients across 11 countires even for UK clients very few of them come to our lab.
What is your projected TG for this product?
We are talking to discerning Indian customers, people who are well travelled and are appreciative of finer things in life. Weddings however is a different ball game in India. Every luxury wedding/Destination/Theme wedding consumers are clients. Couples will leave no stone unturned to create the perfect wedding memory should evaluate Bespoke Fragrance services, because nothing comes close to creating your special wedding memory as a bespoke fragrance.
Kindly shed light on your clientele and also the price range?
The thing about bespoke fragrance creation is that you cant talk about it. In India we have a very special price which starts at INR 5lacs
Who do you see as your competition in the same space?
Nothing really compares to the previlege of having your own fragrance.
At last, what are your India specific growth plans?
We are currently focussed on getting a large set of the right audience to appreciate our Bespoke services before we start rolling out our ne xt set of offerrings.