The Indian market for international fragrances is growing around 25-35 per cent per annum. Cosmetics industry sources say that the country's perfume market is close to Rs 160 crore (Rs 1.6 billion) currently.
Compared to the world market, it is minuscule. But that hasn't deterred the 100-year-old French brand Lanvin from coming to India.
Launched in Mumbai recently, the euro 46-million fashion label, Lanvin, has introduced its range of fragrances both for men and women.
Lanvin's Indian foray is a tie-up with the House of Baccarose, one of the country's largest marketer and distributor of lifestyle products. Baccarose will essentially handle the distribution of the Lanvin products and chalk out the marketing route.
Though Lanvin started out as a haute couture label, over the years it has moved to becoming a pret and fashion accessories brand, says Dominique Bretly, international marketing director at Lanvin's.
But what took Lanvin so long to look at India, which is already flooded with major international perfume brands?
"In the last two years, the quality of distribution and retail networks in India has improved tremendously. Consumer awareness towards international brands has also grown. All these factors gave us the confidence that it was the right time to enter India," says Bretly.
Lanvin has launched Arpege and L'Homme for men and Oxygen for both men and women. The company has also launched Eclat' D'Arege in the Indian market.
Bretly claims that Eclat' D'Arege is its latest fragrance worldwide and will be widely promoted in India too.
The average price of these perfumes ranges from Rs 1,900 for a 30 ml bottle to Rs 3,180 for a 75 ml bottle and Rs 4,350 for the 100 ml pack.
The Lanvin products will be available at the large format retail stores or perfume boutique in Mumbai, Delhi, Kolkata, Bangalore, Hyderabad and Chennai.
Both men's and women's fragrances market in India is said to be booming. "Internationally, women's fragrances versus men's perfumes stand at 70:30. In India it is evenly poised at 50:50," says Suresh Miranda, managing director, Euro Traditions, which has brought brands such as Christian Dior, Dolce & Gabbana and Muskino to India.
In all, there are close to 40 international fragrances already available in India for Lanvin to contend with.
While MKP Distributors markets 20 brands, Baccarose sells 14 brands and Euro Traditions about 10 brands. Euro is expected to add five more to its list by the end of the year.
However, Bretly is unruffled in the face of competition. There is space for many more players, he feels.
"India has a population of one billion people and out of this at least 0.3 per cent (30 million) can afford to buy premium range fragrances. I expect this to increase to 0.5 per cent which is equivalent to the population of France," he adds.