The Hindu Business Line : Nina Ricci eyes share of high-end fragrance market

THE $100-million Indian fragrance market may seem small compared with the global $2.5-million, but the annual growth rate of 15 per cent makes India a chosen spot for players in the segment.

"After Europe, India is seen as an important market by us, hence we launch products here even before we launch them in the Japanese or the US markets," said Mr Guillaume Nagy, Regional Marketing Manager of Puig Asia Pacific, the regional arm of the parent company of Nina Ricci.

To cash in on the coming festive season, that makes for 40 per cent of the brand's sales annually, France-based Nina Ricci has launched its new perfume, Love in Paris. According to him the fragrance market in the country augers well in the future, hence the company invests in it, but as of now, the company makes no profits here as it has to plough back its gains to pay the 123 per cent import duty and invest in advertising and marketing infrastructure.

The other Nina Ricci fragrances available in the Indian market include Les Belles, Nina, Deci-Dela, Premier Jour, Love fills L'Air du Temps for women and Ricci Club, Signoricci, Memoir D'Homme for men.

The Love in Paris in the 80 ml bottle is priced at Rs 3,000, which according to Mr Nagy is the Indian psychological price barrier in the fragrance market. Interestingly, in the fragrance business, the global gender break up is 60 women:40 men. In India it is 50:50.

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Nina Ricci eyes share of high-end fragrance market