Home Fragrance Start-up Rosemoore Aiming at 3 Times Workforce in FY 2019-20
New Delhi: India Business Wire India Rosemoore, known for selling premium quality English Fragrances is planning to triple its workforce to around 300 in the next 12 months. Started in 2013, Rosemoore which has its R&D facilities based out of UK is credited to bring premium English fragrances to the Indian market. The company has chosen a wide range of fragrances & packaged them into numerous popular products such as diffusers, candles, gift accessories, room spray, car spray, home fragrance oil & much more.
From a humble beginning, today it sells around 200 SKUs in 25 Indian states. It has PAN India network of 100+ retail stores across various formats including exclusive Boutique Outlets, Life Style & Home D cor, Furniture, Super Market, Hyper Market, & much more. In tandem, it has also developed a remarkable e-commerce outreach alongside inking institutional deals with major retail brands such as Shopper's Stop, Praxis Retail, Nilkamal, Crossword, Spencer, etc.
Rosemoore's future growth will be underpinned on new product lines (body care, bath care & perfumes) along with intensive investments into the online space & retail distribution. The new work force will be deployed across online and offline retail distribution channels. At present online accounts for a relatively small part of its total revenue. However, the overall Indian e-commerce market is growing relentlessly & is expected to reach USD 100 billion by 2022. As online retail is soaring high, Rosemoore is likely to strengthen its web presence by investing in technology & digital marketing, said Jason Tongue, Director of Rosemoore. Jason, a British national, heads the R&D facility based out of the UK.
There is a growing appetite for not just perfumes & deodorants in India, but also for home fragrance products such as sprays, candles, scented oils & diffusers. It is estimated that around 40% of the overall fragrance industry is run by such home fragrance products. In 2018, the global home fragrance industry was estimated at around USD 7.2 billion. The Indian market size of the home fragrance is nearly USD 200 million, constituting less than 3% of the global consumption.
However, the industry is growing at an unprecedented pace. The vigorous growth in the market is backed by a surge in disposable income, growing middle class, evolving consumer preferences & of course expansion in the organized retail industry. As larger retail formats are entering the Tier 2 & Tier 3 cities, fragrances are gaining popularity in such parts of India as well. A 1.3 billion population with attractive demography, where 62.5% of the population is aged 15-59, will further act as a force multiplier & feed into demand for personal care products such as home fragrances.
Indian Home Fragrance industry is poised to grow at a CAGR of 20%, outstripping the global average of 4.6%. Although a nascent industry presently, in the foreseeable future- a sizable part of the global consumption will emanate from India, added Jason.
Rosemoore is an English home fragrance brand which is premium yet affordable. Most of its ingredients are sourced internationally. The company has chosen a wide range of fragrances & packaged them into numerous popular products such as diffusers, candles, gift accessories, room spray, car spray, home fragrance oil & much more. Today it sells around 200 SKUs in 25 Indian states. It has PAN India network of 100+ retail stores across various formats including exclusive Boutique Outlets, Life Style & Home D cor, Furniture, Super Market, Hyper Market, & much more. It has also partnered with a host of major hotel brands such as Radisson, Taj & Orchid, etc. It also owns manufacturing & warehouse in Gurugram.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.