As consumers move away from mass-market deodorants towards more sophisticated fragrance products, Titan has entered the affordable perfume market with products priced under Rs 2,000.
The Tata Group company has launched Skin24Seven at a list price of Rs 1,745, 63 percent cheaper than its existing products. The company also plans to launch products in the Rs 500-1,000 price range under its Fast Track brand next week, Manish Gupta, chief executive officer of Titan’s fragrance and fashion accessories division, told NDTV Profit.
According to Gupta, India’s Rs 100 billion perfume industry has witnessed impressive growth in the wake of the pandemic, resembling a “hockey stick” curve. “Demand for perfumes under Rs 2,000 has been particularly robust, driven by a younger generation who are price-sensitive yet demand high-quality fragrances,” he said. “Furthermore, various direct-to-consumer brands are becoming increasingly accessible through online platforms, making this transition easier for shoppers.”
Titan currently commands 40% market share in the masstige segment.
