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Fragrances form an essential part of everyone’s regular care routine. The fragrance market is dominated by a number of products.
One of the most widely used product in fragnance market is perfume. Some of the major players in the perfume industries are Dior, Estee Lauder, Armani perfumes, Calvin Klein perfumes, etc.
One of the promising startups in the same field is Perfume Lounge. Perfume Lounge was launched by Parvesh, Dipak, and Shivam with the aim of enabling the luxury of good quality fragrances to the Indian population at a normal rate.
Read further to know more about the Perfume Lounge startup including its startup story, business and revenue model, products and services, funding, and more.
Perfume Lounge - Company Highlights
- Company Name-Perfume Lounge
- Founded-November 2022
- Founders-Parvesh, Deepak and Shivam
- Headquarters-New Delhi, India
- Industry-Retail Health and Personal Care Products
Perfume Lounge - About
- Perfume Lounge is a value-driven brand focusing on bringing good quality perfumes to India at an average rate. They develop fragrances based on the latest international trends and then make them available in India at affordable prices.
Perfume Lounge - Industry
- The Indian fragrance market is in rapid growth due to multiple factors. Earlier, the only fragrance noted was the healing scents introduced by Ayurveda. But in current times, the use of perfumes and deodorants has given a spike to the industry.
- According to “India Fragrance (Perfume & Deodorant) Market Outlook, 2027”, the fragrance industry is projected to cross INR 20,000 crores by 2027. The total market share is $3 billion and the serviceable available market for the industry is $1.68 billion. Perfume Lounge founders see themselves getting a 5% ($84mn) share of the market in the next five years (2027).
Perfume Lounge - Founders and Team
Perfume Lounge was launched by the joint efforts Parvesh, Deepak, and Shivam.
- Shivam is the co-founder and CEO of the Perfume Lounge. He is responsible for the activities revolving around marketing and management. Shivam has been friends with Deepak for a good amount of time. Moreover, he has also worked with Deepak together on a digital marketing assignment in the past. And that's how he was introduced to the startup.
Parvesh and Deepak
- Parvesh and Deepak are the co-founders of the Perfume Lounge who are also responsible for product development. They both have an undeniable experience in the perfume industry for over 20 years by the means of their packaging-related businesses.
- Apart from this, they have worked together on other businesses too, and share a very close friendship with each other. The prime reason in starting the brand Perfume Lounge was their experience in the same field.
- Their team also includes a few mentors. Currently, they have 2-3 Mentors and Advisors on board. Perfume Lounge is being mentored in various areas such as Raising Investment, Art & Design direction, and Creating a strong supply chain + Operations.
Perfume Lounge - Startup Story
- Parvesh and Deepak have been closely associated with the perfume industry in India for about 20 years. They have witnessed the evolution of the industry very closely. Their experience got them the belief that it is the correct time to launch a new brand in the Indian market.
- Parvesh has one of the leading private label companies for fragrances in India with extensive experience in launching perfumery products. The initial designs and development were all done in-house through his team in collaboration with the team at Perfume Lounge.
- With the finalization of the idea, during the launching period, Parvesh and Deepak found Shivam as the best candidate to venture into this project together. Shivam carries an undeniable experience in digital marketing and managing startups. All three of them together gave rise to another value-driven fragrance brand named Perfume Lounge.
Perfume Lounge - Mission and Vision
- Today’s youth has access to all kinds of information including what the world has to offer in personal grooming and skincare. Although people are aware of what international brands bring to the table, they cannot purchase these products because they are quite expensive. Perfume Lounge wishes to bridge this gap and introduce these popular international fragrance trends to the Indian market at an affordable price.
- They see themselves to be a major fragrance player in the next three years. With the wish to dominate the online space for fragrances through the breadth and depth of their product portfolio.
- They also see some of their brands developing into full personal care and/or cosmetics brands with expanded product lines beyond fragrances. Perfume Lounge’s vision is to be one of the leaders in fragrances and personal care in the next five years.
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Perfume Lounge - Business and Revenue Model
- Perfume Lounge works on the business model of a digital-first brand that sells all of its products on an online marketplace. They also follow the D2C model through their website. The price range for the current product is from INR 899- INR 1499 with a gross margin close to 75-80%.
- To have an upper hand on the business process. Perfume Lounge takes the help of a few software named Slack, G business Suite, Shopify, and Asana in its system.
Perfume Lounge - Products and Services
- Perfume Lounge is a value-driven brand that offers a wide variety of fragrances based on the latest global trends. They believe that by finding the right balance between international trends and authentic Indianness, one can offer products that are uniquely designed for the market.
- They prefer to have the most extensive product portfolio to target different subsets within their target market. It is believed that by their data-driven and consumer-centric approach one will be able to develop products that will resonate strongly with the target market.
- Some of the popular product lines sold by Perfume Lounge are Taboo, Noww, Gin & Tonic, Designer Club, and Syndicate. They are also looking forward to introducing an extensive range of perfumes with different pack sizes.
Perfume Lounge - Customer Acquisition and Growth
- Perfume Lounge was launched as an online platform. From there, it covered the path of getting the first 100 customers very quickly because of the help of other leading e-commerce platforms such as Amazon, Nykaa, and Flipkart.
- Scaling up from the existing volume requires investment in the process of building brand awareness and also exploring all the options available for e-commerce. Perfume Lounge is currently working on the same process to build its product lines while simultaneously creating its presence across all the platforms.
Perfume Lounge - Challenges Faced
- The biggest challenge faced by Perfume Lounge was its distribution. To overcome it, they decided to follow the digital-first strategy for the brand to build itself before actually starting with the offline distribution stores.
- Another challenge faced by them is a high customer acquisition rate on the online distribution platform. To overcome it, they are trying to build the brand continuously with a data-driven approach, especially in terms of marketing and distribution.
- Their recent most successful marketing campaign was the black Friday sale. During which, the company saw a huge spike in its sales.
Perfume Lounge - Fundings
- In June 2022, Perfume Lounge raised an amount of 2 crores through angel investors in the Seed round.
Perfume Lounge - Competitors
- Perfume Lounge sees Bella Vita Luxury, Villain, Wild Stone, Beardo, Skinn, Carlton London, Layer shot, and Engage, Man company as its competitors.
Perfume Lounge - Future Plans
- Perfume Lounge is expanding its offline base with its own kiosks in various malls across India. They are also in talks with large distributors to expand into general trade. Perfume Lounge is also in talks with other complementary brands to collaborate for the purpose of product placement.
- They are also looking forward to launching new lines of products in the comigng months while slightly expanding into the beauty and personal care space. Perfume Lounge is also looking forward to launchin a different range of products starting from INR 140.00.
- The perfume Lounge is Fragrance based product selling brand created with the aim of bridging the gap between the Indian population and the expensive products sold by international brands.
- The brand was started by three friends named Shivam, Deepak and Parvesh. Its vision is to become one of the major leaders in the fragrances and perfume industry in the upcoming five years.
What are the 5 most popular perfume brands in India?
- The top 5 most popular perfume brands in India are Engage, AXE, Park Avenue, Denver, and Fogg.
Is Perfume Lounge an Indian brand?
- Yes, Perfume Lounge is an Indian-grown startup with its headquarters placed in New Delhi, India.
Who are the founders of Perfume Lounge?
- Perfume Lounge was founded by Shivam, Deepak, and Parvesh.