As per a report in Business Standard, Titan has launched a new perfume line, priced significantly below the international brands available in the market.
The perfumes line will be managed by the watches and accessories division and will target sales of Rs 250 crore over a period of 3 years. The company is aiming at a 100,000 customers by the end of this fiscal before attempting to reach out to half a million buyers in a couple of years.
Branded ‘Skinn’, the launch of perfumes is in line with the company’s aim to go beyond watches, jewelry and accessories to position itself as a diversified lifestyle brand. Titan will also launch a line of helmets a few months later.
The perfumes will be made and bottled in France to avoid alcohol bottling regulatory hurdles in India. However, the fragrance has been developed based on India, along with international firms Firmenich and Givaudan.
The perfume line will be launched in the top ten Indian cities before it eventually goes national, Titan is planning a large marketing campaign including outdoor advertising, publications and promotion through its stores. Buyers of Titan watches and Tanishq jewellery will also be offered takeaways and other endorsement offers through loyalty programs.
The perfume range consisting of 3 fragrances for men and 3 for women and will be made available at select World of Titan stores, department stores, multi-brand outlets, lifestyle and accessory stores across the country and online. The entire range is priced at Rs 990 for 50 ml and Rs 1790 for 100 ml.