Ajmal Perfumes to expand value product selection, eyes $50 million revenue in four years
Fragrance business Ajmal Perfumes plans to reach more customers by expanding its value product lines and foresees reaching $50 million (Rs 332.6 crore) in revenue in the coming four years.
“Considering the current way of operations and achievement of sales target, we aim at creating annualised $50 million top-line against the annualised investments of $15-20 million in the next three to four years,” Ajmal Perfumes’ NHA Division president of operations Saurav Bhattacharya, told ET Retail in an interview.
The brand is responding to changing consumer behaviour brought about by the Covid-19 pandemic and expanding its value options. By adding value packs, trial packs, and sampling activations, Ajmal Perfumes aims to cater to shoppers with less to spend. The business has also relocated its manufacturing facilities from Dubai to India to reduce costs incurred through import taxes.
“The unfortunate Covid setback has opened up an opportunity to create fragrance solutions for the new disruptive normal,” said Bhattacharya.
“This outbreak has presented us with an opportunity to build competencies and operations like never before. Not only are we able to sustain growth, but we are also ensuring that that we are expanding and diversifying by working on a supply chain network that’s unique to us.”
Ajmal Perfumes has over 240 exclusive retail outlets across the world and has a retail presence in over 30 duty free locations in international airports. The brand had over 3,000 points-of-sale in India through a mix of online and brick-and-mortar retail formats.
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