Fragrance Market in India 2020 - Part-II

Fragrance Products
Market in India 2020

(Part-II)
FEBRUARY 2020
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Table of Contents
Chapter 1: Chapter 4: Chapter 6:

Executive Summary Market Overview Trade Analysis
1.1. Executive summary 4.1. Fragrance products market in India – overview 6.1. Export
4.1.1. Market size and growth forecast (2019-2024e) - Value-wise
4.1.2. Current market scenario - Volume-wise

- Country-wise
6.2. Import
Chapter 2: - Value-wise
Socio-economic Indicators Chapter 5: - Volume-wise
2.1. Socio-economic indicators Market Segmentation - Country-wise
5.1. fragrance products market share (%) based on type
(2019 & 2024e)
5.1.1. Perfumes market size and growth forecast (2019- Chapter 7:
2024e)
Market Influencers
Chapter 3: 5.1.1.1. Perfumes market segmentation – premium vs mass 7.1. Growth drivers of the market
Introduction 5.1.2. Deodorant market size and growth forecast of (2019- 7.2. Deterrents to the growth of the market
3.1. Market definition and structure 2024e)
5.1.3. Brand-wise segmentation of the fragrance market
(2019)
Chapter 8:
Market Trends
8.1. Current trends in the market
| FRAGRANCE PRODUCTS MARKET IN INDIA 2020 2

Table of Contents
Chapter 9: Chapter 9: Chapter 11:

Competitive Landscape Competitive Landscape (Continued) Appendix
9.1. Competitive Benchmarking – male/female brands, price 11.1. Research methodology
9.3. Hindustan Unilever Limited
range, number of manufacturing plants 11.2. About Netscribes
9.4. ITC Limited
9.2. Emami Limited 11.3. Disclaimer
9.5. Marico Limited
- Company Information
- Product/services 9.6. Avon India Limited
- Business description 9.7. CavinKare Private Limited
- Key people 9.8. J.K. Helene Curtis Limited
- Financial snapshot (INR Bn) 9.9. McEnroe Consumer Private Limited
- Key financial performance indicator 9.10. Nivea India Private Limited

- Key ratios 9.11. Vini Cosmetics Private Limited
- Key business segments
- Key geographical segments
Note: Similar information covered for all other public companies.
Private companies' data given on best effort basis.
Chapter 10:
Product Launches
10.1. Recent product launches

Chapter 1: Executive Summary

Executive Summary
• Fragrance products gained prominence as an integral part of maintaining personal hygiene since ancient times in India
• The consumption of fragrance products like perfumes, deodorants, body sprays, mists and others has become an indispensable part of personal hygiene
Market overview and grooming among Indians
• The fragrance market in India is expected to reach INR 139.44 Bn by 2024, expanding at a compound annual growth rate (CAGR) of ~15.93% during the
2019-2024 period
Drivers Challenges
• Increasing awareness about personal hygiene and improved • Side effects of toxic chemicals used in fragrance products
Drivers and affordability • High price of fragrances and lack of brand loyalty among consumers
challenges • Product diversification • Counterfeit products and lack of quality assurance
• Growth in online sales and distribution network of fragrance products
• Of late, consumers are leaning towards fragrance products with natural ingredients
• International fragrance companies are entering the market to cater to the increasing demand of consumers for premium fragrance products
Market trends • FMCG giants are launching innovative fragrance products to attract more customers
• To serve the growing demand for gender-specific fragrance products, companies are launching perfumes, colognes, body mists, and deodorants
exclusively for men
Major players
Competitive
Emami Limited Marico Limited Nivea India Private Limited Hindustan Unilever Limited
landscape
Mcnroe Consumer Products Private Limited J.K. Helene Curtis Limited Avon India Private Limited Vini Cosmetics Private Limited

Chapter 9: Competitive Landscape

Competitive Benchmarking
Number of
Company name Male fragrance product brand name Female fragrance product brand name Overall price range
manufacturing plants
Engage Engage, Essenza Di Wills INR 200 – INR 1500 20
Wild Stone Secret Temptation, Heaven’s Garden INR 200 – INR 700 1
- Spinz INR 100 – INR 500 6
Nivea Men Nivea INR 150 – INR 300 1
Fogg Fogg Women INR 150 – INR 350 2
Park avenue, Raymond - INR 150 – INR 1,500 1

Competition
List of major players
Name Website
Emami Limited http://www.emamiltd.in
Hindustan Unilever Limited https://www.hul.co.in/
ITC Limited https://www.itcportal.com/
Marico Limited https://marico.com
Avon India Private Limited https://www.avon.co.in/
CavinKare Private Limited cavinkare.com
J.K. Helene Curtis Limited http://www.jkhc.com/
Mcnroe Consumer Products Private Limited https://mcnroe.com
Vini Cosmetics Private Limited http://www.viniinternational.com/
Nivea India Private Limited https://www.nivea.in/

Public: Domestic Company – Emami Limited
Company information Business description

• Emami Limited, established in 1983 and headquartered in Kolkata, engages itself in the
Emami Limited
production and sale of FMCG products
Emami Tower
Corporate address • The company offers more than 300 products across fragrance, health supplements,
687 Anandapur, EM Bypass, Kolkata 700107
personal care and nutraceuticals segments
West Bengal
• Emami has a portfolio of FMCG brands like Boroplus, Navratna, Fair and Handsome,
Tel No. +91-33-6613-6264 Emami 7 Oils in One, Kesh King, Diamond Shine, HE Deodorants, Emami Golden Beauty,
Emami Naturally Fair, Zandu, Mentho plus, Fast Relief, Zandu Sona Chandi
Fax No. +91-33-6613-6600
Chawanprash, Kesari Jivan and Vasocare
Website http://www.emamiltd.in • Company's fragrance products are sold under the HE deodorants brand name
 Under the brand, the company offers 9 variants of deodorants – 5 of the deodorants are
Year of incorporation 1983 aerosol and the rest are ‘no gas’ deodorants
 In FY 2018, HE deodorants launched 3 variants of pocket perfumes: Pocket Perfume –
Stock exchange: Ticker BSE: 531162
Power, Pocket Perfume – Passion and Pocket Perfume – Intense
Products/services Key people

Category Products/services Name Designation
Fragrance Deodorants Prashant Goenka Wholetime Director

Personal care Cream, hair oil, body lotion Aditya Vardhan Agarwal Director
Health supplements and Kashi Nath Memani Director

Chawanprash, pain relief balm
naturaceutical Sushil Kumar Goenka Managing Director

Public: Domestic Company – Emami Limited (Continued)
Business description (continued)
• Emami acquired Zandu and Kesh King in 2008 and 2015, respectively
• In January 2019, the company acquired the German brand Crème 21, which manufactures personal care products using natural and herbal ingredients
• Emami has an employee base of around 3,200 people to reach out to more than 4.5 Mn retail outlets across the country
• It owns eight manufacturing plants, four regional offices, 31 distribution centers, and one associate company in India
• Currently, it’s operations are spread across more than 60 countries including Afghanistan, Djibouti, Egypt, Jordan, Lebanon, Mauritania, Morocco, Sudan Afghanistan, Bangladesh, Bhutan,
Maldives, Nepal, Indonesia, Vietnam, Thailand, Singapore, Malaysia, Pakistan, Russia, Moldova and Sri Lanka
• The company’s distribution network comprises around 3000 distributors, ~260 stockists and more than 6000 sub-stockists, across the country

Key ratios
Financial snapshot Particulars FY 2016 FY 2017 FY 2018 FY 2019
Total Income Net profit/loss Profitability Ratios

Gross Margin % 65.6% 67.1% 66.9% 64.5%
30,000.0 26,929.4
24,881.7 25,305.5 Net Income Margin % 15.4% 13.7% 12.1% 11.3%
25,000.0 23,583.5 EBITDA Margin % 29.3% 30.6% 28.5% 26.9%
EBITA Margin % 27.5% 28.7% 25.9% 24.1%
20,000.0
INR Mn
EBIT Margin % 18.6% 18.3% 16.4% 15.1%

15,000.0 Return on Assets % 12.6% 10.7% 9.6% 9.0%
Return on Capital % 15.4% 12.6% 11.3% 11.2%
10,000.0
3,635.2 3,404.2 3,071.4 Return on Equity % 25.5% 20.2% 16.2% 14.8%
5,000.0 3,032.3 Return on Common Equity % 25.6% 20.2% 16.3% 14.8%
Liquidity Ratios
0
FY 2016 FY 2017 FY 2018 FY 2019 Current Ratio 0.7x 0.6x 1.0x 1.2x
Quick Ratio 0.4x 0.2x 0.6x 0.7x
Leverage Ratios
Key financial performance indicators Total Debt/Equity 41.6% 26.9% 16.2% 5.3%
Total Debt/Capital 29.4% 21.2% 13.9% 5.0%
Indicators Value (20/2/2019) Interest Coverage 8.1x 7.8x 12.1x 19.0x
Efficiency Ratios
Market capitalization (INR Mn) 1,23,538.5 Total Asset Turnover 1.1x 0.9x 0.9x 1.0x
Fixed Asset Turnover 5.1x 4.2x 3.4x 3.5x
Accounts Receivable Turnover 20.3x 21.8x 20.0x 14.5x
Financial year ending on March 31st 2019 Inventory Turnover 5.9x 5.0x 4.5x 4.6x

Key business segments Key geographical segments
100%
100%
90% Emami Limited has been operating 90% 14.23% 11.53% 12.51% 13.36%
80% solely in the business of manufacturing 80%
personal and healthcare products over 70%
70%
the last four years 60%
60%
50% 100% 50% 87.49% 86.64%
40% 85.77% 88.47%
40%
30% 30%
20% 20%
10% 10%
0% 0%
FY 2019 FY 2016 FY 2017 FY 2018 FY 2019
Personal and healthcare India Overseas

Public: Domestic Company – Hindustan Unilever Limited

• Hindustan Unilever Limited (HUL), established in 1933 and headquartered in Mumbai,
Hindustan Unilever Limited
Maharashtra, operates as a manufacturer and seller of consumer products in India
Unilever House
Corporate address • The company is a subsidiary of Unilever Plc., one of the global leading FMCG companies,
B. D. Sawant Marg Chakala Andheri (East),
offering home care, personal care, refreshment and food products
Mumbai, Maharashtra- 400099
 Unilever operates across 190 countries and holds a share of 67% in HUL
Tel No. +91-22 3983 2285 • HUL offers 35 different brands across various categories like soaps, shampoos,
detergents, toothpastes, deodorants, cosmetics, tea, coffee, packaged foods, ice-creams
Fax No. +91-22 2824 9457 and water purifiers
Website https://www.hul.co.in/ • Axe and Rexona are the brands that sell fragrance products
 Axe offers products like deodorants, body perfumes and cologne talc exclusively for men
Year of incorporation 1933  In 2018, the company launched the pocket sized perfume, Axe Ticket
 Roll on deodorants, and perfumes for both men and women are offered by the company
Stock exchange: Ticker BSE:500696 under Rexona
Products/services
Key people
Category Products/services
Name Designation
Fragrance Deodorants, body perfumes, roll-ons and cologne talc
Sanjiv Mehta Chairman, CEO & MD
Soap, shampoo, conditioner, toothpaste, creams, body
Personal care Srinivas Phatak Executive Director of Finance
lotions
Foods and refreshment Tea, coffee, packaged soup, jam, jelly, sauce, ice cream Devopam Bajpai Executive Director of Legal & Corporate Affairs,
Home care and water Pradeep Jyoti Banerjee Executive Director of Supply Chain
Detergent, water purifier
purifier

Public: Domestic Company – Hindustan Unilever Limited (Continued)

• Hindustan Unilever Limited has 18,000 employees
• The research center of the company, Unilever Research India, is located in Bangalore
• HUL has manufacturing plants across various locations in the country like Uttar Pradesh, West Bengal, Daman and Diu, Dadra and Nagar Haveli, Gujarat, Karnataka, Maharashtra, Telangana,
Kerala, Tamil Nadu, Goa, Madhya Pradesh, Uttaranchal, Himachal Pradesh, Punjab, Assam and Pondicherry

Key ratios

Gross Margin % 50.3% 50.4% 52.6% 52.6%
4,50,000.0
3,93,100.0 Net Income Margin % 12.9% 13.5% 14.7% 15.4%
4,00,000.0 3,55,450.0 EBITDA Margin % 18.6% 19.1% 21.1% 22.6%
3,50,000.0 3,21,860.0 3,31,620.0
EBITA Margin % 17.6% 17.8% 19.6% 21.2%
3,00,000.0
EBIT Margin % 17.6% 17.8% 19.6% 21.1%
INR Mn
2,50,000.0
Return on Assets % 24.2% 24.2% 26.0% 28.4%
2,00,000.0
1,50,000.0
41,390.0 44,760.0 52,140.0 60,540.0 Return on Equity % 78.1% 67.4% 74.3% 79.8%
1,00,000.0
Return on Common Equity % 78.2% 67.4% 74.3% 79.9%
50,000.0
Liquidity Ratios
0
FY 2016 FY 2017 FY 2018 FY 2019 Current Ratio 1.5x 1.3x 1.3x 1.4x
Leverage Ratios
Key financial performance indicators Total Debt/Equity 2.7% 4.2% NA 1.3%
Total Debt/Capital 2.7% 4.0% NA 1.2%
Indicators Value (20/2/2020) Interest Coverage NM NM NM NM
Efficiency Ratios
Market capitalization (INR Mn) 49,64,996.5 Total Asset Turnover 2.2x 2.2x 2.1x 2.2x


100% 4.23% 100% 4.37% 4.01%
12.94% 3.83% 5.51%
13.58% 5.25%
90% 3.17% 17.88% 90%
3.15% 18.14%
80% 5.97% 5.49% 80%
70% 70%
60% 46.02% 45.79% 60%
46.64% 45.28% 95.99%
50% 50% 95.63%
94.75% 94.49%
40% 40%
30% 30%
20% 31.27% 31.77% 32.10% 32.75% 20%
10% 10%
0% 0%
FY 2016 FY 2017 FY 2018 FY 2019 FY 2016 FY 2017 FY 2018 FY 2019
Refreshment
Foods India Outside India
Others (Includes Exports, Infant & Feminine Care Etc.)

Foods & Refreshment
Beauty & Personal Care
Home Care
Hindustan Unilever Limited offers fragrance product under the beauty and personal care
segment in Indian fragrance market

Public: Domestic Company – ITC Limited

• ITC Limited, incorporated in 1910 and headquartered in Kolkata manufactures and sells
ITC Limited
personal care products in India
Virginia House
Corporate address • The company offers products across segments like fragrance, skin care, body care,
37 Jawaharlal Nehru Road
home care, stationary products and apparel
Kolkata-700071
• ITC offers fragrance products for both men and women through its brands, Engage and
Tel No. +91-33-22889371 Essenza Di Wills
• The fragrance products offered by the company include deodorants, cologne sprays,
Fax No. +91-33-22880655
perfume sprays, pocket perfumes and premium perfumes
Website https://www.itcportal.com/  Pocket perfumes include products like Engage ON 2-in-1 Day & Night for Her, Engage ON 2-
in-1 Work & Party for Him, Engage Classic Woody, Engage Cool Marine among others
Year of incorporation 1910  Premium perfumes are offered by Engage L’amante
• In FY 2019, sales of Engage reached INR 3.5 Bn
Stock exchange: Ticker NSEI:ITC
• The company has around 20 manufacturing units across India
Products/services
Key people
Name Designation
Deodorants, perfumes, colognes, fine fragrances,
Fragrance products Sanjiv Puri MD & Chairman
perfume sprays
Shower gel, creams, body wash, hand wash, soaps, Hemant Bhargava Director
Personal care products
shampoo Sumant Bhargavan Wholetime Director
Home care Safety matches, homelites matches, incense sticks Rajiv Tandon Executive Director & CFO
Stationary products Notebooks, diaries, notepads, pen

Public: Domestic Company – ITC Limited (Continued)
Key ratios
6,00,000.0 Gross Margin % 64.1% 61.2% 62.2% 62.6%
Net Income Margin % 23.8% 24.1% 25.9% 26.0%
4,83,526.8
5,00,000.0 EBITDA Margin % 37.0% 36.0% 37.9% 38.2%
4,27,766.1 4,34,489.4
3,91,921.0 EBITA Margin % 34.3% 33.4% 35.1% 35.4%
4,00,000.0 34.3% 33.4% 35.1% 35.4%
EBIT Margin %
INR Mn
1,12,712.0
1,02,894.4
93,444.5
Return on Assets % 17.2% 16.6% 15.9% 15.7%
1,25,923.3
3,00,000.0
2,00,000.0 Return on Equity % 25.4% 23.4% 23.1% 22.9%
Return on Common Equity % 25.1% 23.1% 22.8% 22.6%
1,00,000.0 Liquidity Ratios
Current Ratio 3.7x 3.7x 2.9x 3.2x
0
FY 2016 FY 2017 FY 2018 FY 2019
Leverage Ratios
Indicators Value (20/2/2020) Interest Coverage 251.0x NM 169.7x NM
Efficiency Ratios
Market capitalization (INR Mn) 25,40,804.2 0.8x 0.8x 0.7x 0.7x
Total Asset Turnover

Public: Domestic Company – ITC Limited (Continued)

100% 2.59% 2.40% 3.04% 3.60% 100%
8.94% 8.50% 9.96% 11.14% 13.06% 14.36%
90% 10.74% 90% 11.10%
12.69% 13.29% 80%
80% 15.47% 17.52%
2.28% 2.24%
70% 2.84% 70%
3.20%
60% 16.36% 16.70% 60%
21.55%
50% 22.96% 50%
88.90% 88.86% 86.94% 85.64%
40% 40%
30% 30%
56.87%
57.15% 47.14%
20% 41.98% 20%
10% 10%
0% 0%
FY 2016 FY 2017 FY 2018 FY 2019 FY 2016 FY 2017 FY 2018 FY 2019
FMCG - Cigarettes
FMCG - Others India Outside India
Hotels
Agri Business
Paperboards, Paper & Packaging
Others
ITC Limited offers fragrance product under the FMCG - Others segment

Public: Domestic Company – Marico Limited
Business description
Company information
• Marico Limited, incorporated in 1988 and headquartered in Mumbai, Maharashtra, is
Marico Limited engaged in the manufacturing and selling of personal care products in India
Corporate address Grande Palladium 7th Floor 175, CST Road Kalina,
• The company offers products across various segments like fragrance, hair care, skin
Santacruz (East), Mumbai, Maharashtra-400098
care, health food, edible oils and fabric care
• In India, the brands offered by the company are Set Wet, Studio X, Parachute,
Tel No. +91-22 6648 0480
Parachute Advansed, Hair & Care, Nihar, Nihar Naturals, Livon, Mediker, Saffola and
Fax No. +91-22 2650 0159 Revive
• Fiancée, Caivil, X-Men, Thuan Phat, Hercules, Black Chic, Ingwe, Isoplus, Code 10,
Website https://marico.com
Parachute and HairCode are the brands that operate in international markets
Year of incorporation 1988 • The company offers fragrance products only for men in India under the brand name
Set Wet and Set Wet Studio X
Stock exchange: Ticker BSE:531642
Products/services
Key people
Name Designation
Fragrance products Set Wet, Set Wet Studio X
Parachute, Parachute Advansed, Hair & Care, Nihar, Nihar Harshraj Charandas Mariwala Founder & Chairman
Hair and skin care
Naturals, Livon, Mediker, Parachute Advansed Men Saugata Gupta MD, CEO & Executive Director
products
Aftershower Hair Cream
Vivek Anant Karve Chief Financial Officer
Health foods and Executive VP and Head of Finance & Investor
Edible oil Pawan Agrawal
edible oils Relations
Fabric care product Revive

Public: Domestic Company – Marico Limited (Continued)

• Some of the fragrance products offered by Marico are Set Wet Cool Avatar, Set Wet Charm Avatar, Set Wet Swag Avatar, Set wet Chill Avatar, Set Wet Thrill Avatar, Set Wet Bali Bliss, Set
Wet Brazil Beats and Set Wet Paris Pulse
 The company offers pocket perfumes under the brand name Set Wet Go Perfume Sprays
 The pocket perfumes are available in six variants – Aqua, Cirtus, Icy, Musk, Woody and Beach
• Marico holds a ~45% stake in Zed Lifestyle Private Limited, which is the parent company of Beardo, an online-only male grooming company
• In FY 2018, Marico earned a revenue of approximately INR 63 Bn from its sales in India and abroad
 Nearly 22% of the company’s revenue is generated from its international sales
• The company owns 16 manufacturing units, 9 of them are in India and the rest are located overseas
• Globally, Marico has its presence across 25 countries including Bangladesh, Vietnam, Malaysia, Egypt and South Africa
• In FY 2018, the company sold over 155 Mn products every month in India and abroad

Key ratios
90,000.0 Gross Margin % 48.4% 51.6% 47.0% 44.7%
Net Income Margin % 11.8% 13.5% 12.9% 15.2%
80,000.0 73,340.0
EBITDA Margin % 18.4% 20.1% 18.0% 17.4%
70,000.0 63,220.0
60,173.2 59,177.9 EBITA Margin % 17.0% 18.7% 16.7% 16.2%
60,000.0 17.0% 18.7% 16.7% 16.2%
EBIT Margin %
INR Mn
50,000.0 Return on Assets % 19.7% 19.7% 17.1% 16.8%

7,114.8
40,000.0 Return on Capital % 27.6% 27.8% 24.1% 23.7%

7,985.9
8,140.0
11,180.0
30,000.0 Return on Equity % 37.4% 37.1% 33.8% 40.8%
20,000.0 Return on Common Equity % 37.0% 36.8% 33.4% 40.3%
Liquidity Ratios
10,000.0
Current Ratio 1.6x 1.9x 1.9x 1.9x
0
FY 2016 FY 2017 FY 2018 FY 2019
Leverage Ratios
Indicators Value (20/2/2020) Interest Coverage 65.4x 80.4x 87.8x 69.8x
Efficiency Ratios
Market capitalization (INR Mn) 3,87,218.8 1.8x 1.7x 1.6x 1.7x
Total Asset Turnover


100% 100%
7.45% 6.49% 6.16% 5.96%
90% 90% 5.04% 6.40% 5.65% 5.60%
9.96% 9.73% 9.95%
80% 80% 9.83%
70% 70%
Marico Limited has been operating
60% 100% 60%
solely in the business of manufacturing
50% personal and household care products 50%
78.48%
over the last four years 78.46%
40% 40% 77.68% 77.15%
30% 30%
20% 20%
10% 10%
0% 0%
FY 2018 FY 2016 FY 2017 FY 2018 FY 2019
Manufacturing and sale of consumer products
India Bangladesh Vietnam Others

Private: Domestic Company – CavinKare Private Limited

• CavinKare Private Limited, established in 1990 and headquartered in Chennai,
Cavin Kare Private Limited manufactures and sells personal care products
Corporate address Cavinville, No. 12, Cenotaph Road, • The company offers products in the segments of hair care, skin care, fragrances, food,
Chennai - 600 018 snacks, beverages, dairy and professional care
• CavinKare sells fragrance products through its brand Spinz
Tel No. +91-44-2431-7550  Spinz offers products like deodorants, perfumes, talc and cool talc
 Some of the products offered are Spinz Perfume Mystique, Spinz Deo Thrill seeker, Spinz
Fax No. +91-44-2436-2879
Talc Exotic, Spinz Deo Explorer, Spinz Perfume Escape, Spinz Sun Protection Talc and Spinz
Website cavinkare.com Cool Talc
• The per unit price of the products ranges between INR 100 and INR 500
Year of incorporation 1990 • The company earns a revenue of nearly INR 10 Bn from its personal care business which
includes fragrance products
• In 2018, the company invested INR 320 Mn for R&D
• It has its manufacturing units located in Bhiwandi, Husnabad, Kanchipuram,
Pondicherry, Bhavani and Assam
Products/services
Key people
Name Designation
Fragrance products Deodorants, perfumes, talc, cool talc
Ranganathan Chinnikrishnan Managing Director
Personal care products Cream, hair oil, shampoo, conditioner, hair color
Venkatesh Vijayaraghavan Wholetime Director
Teatime snacks, pickle, chivda, moong daal, flavored and Sudharsan Madhavachari Durairaghavan Wholetime Director
Food and beverages
refreshing beverages

Private: Domestic Company – J.K. Helene Curtis Limited

• J.K. Helene Curtis Limited, founded in 1964 and headquartered in Mumbai,
J.K. Helene Curtis Limited
manufactures and sells personal care products in India
New Hind House, Narottam Morarjee Marg
Corporate address • The company offers products across segments like body care, hair care, fragrances and
Ballard Estate
home care products
Mumbai - 400 001
• Park Avenue, Raymond and Luxury Parfum Collection from the House of Raymond are
Tel No. +91-022062937000 the brands that sell the company’s fragrance products
• Park Avenue sells perfumes and deodorants particularly for men
Fax No. - •The company has its manufacturing plant located in Aurangabad
Website http://www.jkhc.com/ • In FY 2018, the company clocked a revenue of INR 5 Bn
Year of incorporation 1964
Products/services
Key people
Name Designation
Fragrance products Deodorants, perfumes, colognes, room fresheners Gautam Hari Singhania Director
Mahendra Doshi Director
Geeta Mathur Director

Private: Domestic Company – McNROE Consumer Products Private Limited

• McNROE Consumer Products Private Limited, incorporated in 1993 and headquartered
McNROE Consumer Products Private Limited 3rd in Kolkata, manufactures and sells personal care products
Corporate address Floor, 16 Netaji Subhas Road • The company offers fragrance products like perfumes, deodorants, talcum powder, cool
Kolkata-700001 talc, soaps and wet wipes
• It sells personal care products through its brands Wild Stone, Secret Temptation and
Tel No. +91-33-4014-2100 Heaven’s Garden
Fax No. NA  Around 60 different types of products are offered by the company under these brands
 Some of the products offered are Wild Stone deodorants and perfume, Wild Stone cool talc
Website https://mcnroe.com and deodorant talc, Wild Stone soap, Secret Temptation deodorants, Secret Temptation
perfume, Secret Temptation perfume body spray, Secret Temptation deo talc, Secret
Year of incorporation 1993 Temptation face wipes, Secret Temptation perfumed spray, Heaven’s Garden deo talc
• McNROE offers fragrance products for men under the brand name Wild Stone
• The per unit price range of the products offered by the company ranges between INR 60
and INR 500
• The company has partnered with more than 1,200 distributors across the country
Products/services
Key people
Name Designation
Fragrance products Deodorants, perfumes, body spray, deo talc Narendra Kumar Daga Founder and Director
Shyam Kumar Taparia Wholetime Director
R.K. Surana Chief Operations Officer

Private: Domestic Company – McNROE Consumer Products Private Limited
(Continued)
• The company has a strong distribution network consisting of more than 3,20,000 dealers to distribute its products across India
• It exports its products to countries like Bangladesh, Nepal, Pakistan and Sri Lanka
• In FY 2018, the company earned a revenue of INR 4.08 Bn from the sale of its products in India and abroad
• In FY 2018, Wild Stone-Legend and Secret Temptation-Romance, together held a 9.9% share in the fragrance segment in India
 Both Secret Temptation-Romance and Wild Stone-Legend, sold around d 1 Mn cans in India and abroad in FY 2018
• The company has announced plans to invest INR 1.5 Bn in technology, research and development, and for the upgradation of its manufacturing plant in Haridwar
 The company's opened its first manufacturing plant in Bhadrak, Orissa

Private: Domestic Company – Vini Cosmetics Private Limited

• Vini Cosmetics Private Limited, incorporated in 2009 and headquartered in Gujrat, is
Vini Cosmetics Private Limited
engaged in the manufacture and sale of personal care products
1st Floor, Janki House, 2, Sunrise Park Opp.
Corporate address • The company’s brand, Fogg sells fragrance products like deodorants and perfumes
Himalaya Mall, Drive- In Road, Bodakdev
• The brand offers products like deodorants, scents, perfumes and roll-ons
Ahmedabad Gujrat-380054
• In FY 2019, the company earned revenue of INR 11 Bn
Tel No. - • In FY 2019, Vini Cosmetics earned around 80% of its revenue from its deodorant
brand, Fogg
Fax No. -
• Two large private equity firms, Sequoia Capital and West Bridge Capital, are investors of
Website http://www.viniinternational.com/ the company
 Bay Capital holds 9% and Sequoia Capital holds 12% stake in the company
Year of incorporation 2009 • Vini Cosmetics has its manufacturing plants in Ahmedabad and Mumbai
• In FY 2019, the company earned a revenue of INR 65 Bn
• The company’s products are available across countries like Australia, New Zealand,
Thailand, Sri Lanka, Morocco, Kenya, Zambia and Malaysia
Products/services
Key people
Name Designation
Fragrance products Deodorants, scents, roll-ons, body spray, eau de parfum, attar Dipam Kanubhai Patel Managing Director
Darshankumar Naranbhai Patel Managing Director
Sandeep Singhal Director
Anjana Sasidharan Director

Private: Foreign Company – AVON Beauty Products India Private Limited

• AVON Beauty Products India Private Limited, incorporated in 1985 and headquartered
AVON Beauty Products India Private Limited in New Delhi, is engaged in manufacturing and selling of personal care products
Corporate address S. No. 2, C-8 Shopping Centre, Nimri Colony, • Around 320 products are offered by Avon across categories like cosmetics, fragrance,
Bharat Nagar , New Delhi - 110052 skin care, hair care, body care, accessories and jewellery
• The company offers products like perfumes, deodorants, spray fragrances, splash
Tel No. +91- 9205602866 fragrances, roll on deodorants and skin softeners, in the fragrance category
• AVON sells fragrance products under the brand names Feelin Fresh, Scent Essence,
Fax No. -
Sheer Passion, X-Series, Imari, Little Dress and Black Suede
Website https://www.avon.co.in/ • Some of the fragrance products include Avon Luck EDP for Her, Imari Classic, Imari Elixir
Body Spray, Little Body Dress Body spray, X-Series Body Deodorant Body Spray, X-Series
Year of incorporation 1985 Rock Deodorant Body Spray, Sheer Passion Floral Fruity Captivating, Sheer Passion Truly
Mesmerising, Sheer Passion Citrus Floral Tempting and Black Suede Touch
• The company has its manufacturing unit in Dehradun
• In FY 2019, it earned revenue of INR 183.09 Mn
Products/services
Key people
Name Designation
Fragrance products Fine fragrances, spray, splash, roll on deodorants, skin softeners Dronacharya Chakraborty Managing Director
Pankaj Bhatnagar Director
Anshu Aggarwal Director
Bhasvar Aggarwal Director

Private: Foreign Company – Nivea India Private Limited

• Nivea India Private Limited, established in 2005 and headquartered in Mumbai,
Nivea India Private Limited operates as a manufacturer and seller of personal care products
Corporate address 4th Floor, Art Guild House, Phoenix Market City, • Around 189 different products are offered by Nivea across segments like body care,
Kurla (W), Mumbai-400070 face care, skin care, and fragrance for both men and women
• Nivea Men sells fragrance products for men
Tel No. NA  Some of the fragrance products for men include Nivea Men Deep Impact Deodorant, Nivea
Men Body Deodorizer Energy, Nivea Men Fresh Active Roll On, Nivea Men Body Deodorizer
Fax No. NA
and Nivea Men Sport Deodorant
Website https://www.nivea.in/ • Nivea Fresh Rose & Care Deodorizer, Nivea Whitening Talc Touch Deodorant, Nivea
Whitening Smooth Skin Roll On and Nivea Pearl & Beauty Deodorant are a few of the
Year of incorporation 2005 products offered by the company, exclusively for women
• The manufacturing plant of the company is located in the Gujarat Industrial
Development Corporation area in the Sanand district
 The plant, which is spread across 72,000 sq. metres of land, has an annual production
Products/services capacity of 240 Mn products
• In 2018, the company generated a revenue of over INR 5 Bn
Fragrance products Deep Impact Roll-on and Deodorant, Protect & Care Roll-on
Key people
for men and Deodorant, Sport Deodorant, Fresh Power Boost
Name Designation
Deodorant, Cool Kick Roll-on and Deodorant, Silver Protect
Kick Roll-on and Deodorant
Melanie Schrewe Director
Fragrance products Nivea Fresh Petal & Care Deodorizer, Nivea Protect & Care
for women Roll On, Nivea Whitening Sensitive Deodorant, Nivea Fresh Stefan Norbert De Loecker Director
Natural Roll On Neil George Managing Director
Other products Deep Impact Shampoo, Sensitive Shaving Gel, Protect & Care
Shaving Gel, Protect & Care Aftershave Lotion, Shaving Foam,
Beard Oil

Chapter 10: Product Launches

Product Launches
Date Description
• Ripple Fragrance, the fragrance division of NR Group based in Mysore, has launched four exotic deodorant variants
• Glam & Glitz, Blue Suede, Xtreme Sport and Diablo are the four variants of deodorants launched by the company
January 28, 2020
• The deodorants are convenient to use and have been named ‘DNA – Deo on the Go’
• The deodorants are priced at INR 100 for a 75 ml bottle
• Santoor, one of the leading soap brands in India, announced the launch of its pocket-sized perfume, through its brand, Santoor Deo
November 13, 2019 • The pocket perfumes are priced at INR 65 per pack
• CavinKare launched sachet perfumes under its flagship fragrance brand, Spinz
March 7, 2019
• The Spinz sachet perfume is available in the market for INR 3
• The sachet perfumes are one-time-use products and are available in two variants – Purple Blast And Blue Magic

Chapter 11: Appendix

Appendix
Research Methodology
Problem identification Defining objectives Information gathering Analysis Reporting

The analyst identifies key questions The analyst then defines the The next stage of research is The qualitative and quantitative The analyst then creates a report
that he/she would like to address research objectives and conducted utilizing secondary and findings from the previous stages with the support of his findings and
from the market study. methodologies which form the basis primary sources of information. are brought together by specialists analysis, with help from an editorial
of the research. to perform a rigorous analysis. The team.
He/she describes the major They conduct an in-depth study of market trends, drivers, and
challenges that would help clients the Indian market, identifying and opportunities obtained during the
understanding the industry, all over understanding its key stakeholders, analysis are compared with
India, or for a specific region. drivers, trends, challenges, and economic indicators, sector growth
opportunities, covering major rates, population index, among
market segments others, to ensure consistency of the
data. After consistency is ensured,
Primary research complements the these historical and present
secondary research, as and when indicators help to understand how
required, as it helps gain insights the market will perform in the
from the industries directly, by future. The proprietary forecasting
communicating with senior model factors in all these indicators
executives, key opinion leaders, and to predict the future market
independent consultants who are accurately.
experts in their industries, or
specific industry sectors.

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Fragrance Market in India 2020 - Part-II

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Fragrance Market in India 2020 - Part-II

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Fragrance Products

Market in India 2020

EMISPDF in-micaahd from 61.95.254.24 on 2020-09-06 16:59:01 BST. DownloadPDF.

Chapter 1: Chapter 4: Chapter 6:

4.1.2. Current market scenario - Volume-wise

| FRAGRANCE PRODUCTS MARKET IN INDIA 2020 2

Chapter 9: Chapter 9: Chapter 11:

- Business description 9.7. CavinKare Private Limited

- Key people 9.8. J.K. Helene Curtis Limited

- Financial snapshot (INR Bn) 9.9. McEnroe Consumer Private Limited

- Key financial performance indicator 9.10. Nivea India Private Limited

| FRAGRANCE PRODUCTS MARKET IN INDIA 2020 3

EMISPDF in-micaahd from 61.95.254.24 on 2020-09-06 16:59:01 BST. DownloadPDF.

| FRAGRANCE PRODUCTS MARKET IN INDIA 2020 5

EMISPDF in-micaahd from 61.95.254.24 on 2020-09-06 16:59:01 BST. DownloadPDF.

Engage Engage, Essenza Di Wills INR 200 – INR 1500 20

- Spinz INR 100 – INR 500 6

Nivea Men Nivea INR 150 – INR 300 1

Fogg Fogg Women INR 150 – INR 350 2

Park avenue, Raymond - INR 150 – INR 1,500 1

| FRAGRANCE PRODUCTS MARKET IN INDIA 2020 7

Emami Limited http://www.emamiltd.in

Hindustan Unilever Limited https://www.hul.co.in/

ITC Limited https://www.itcportal.com/

Marico Limited https://marico.com

Avon India Private Limited https://www.avon.co.in/

CavinKare Private Limited cavinkare.com

J.K. Helene Curtis Limited http://www.jkhc.com/

Mcnroe Consumer Products Private Limited https://mcnroe.com

Vini Cosmetics Private Limited http://www.viniinternational.com/

Nivea India Private Limited https://www.nivea.in/

| FRAGRANCE PRODUCTS MARKET IN INDIA 2020 8

Company information Business description

Products/services Key people

Fragrance Deodorants Prashant Goenka Wholetime Director

Health supplements and Kashi Nath Memani Director

| FRAGRANCE PRODUCTS MARKET IN INDIA 2020 9

| FRAGRANCE PRODUCTS MARKET IN INDIA 2020 10

Total Income Net profit/loss Profitability Ratios

EBIT Margin % 18.6% 18.3% 16.4% 15.1%

| FRAGRANCE PRODUCTS MARKET IN INDIA 2020 11

Key business segments Key geographical segments

Personal and healthcare India Overseas

| FRAGRANCE PRODUCTS MARKET IN INDIA 2020 12

Company information Business description

| FRAGRANCE PRODUCTS MARKET IN INDIA 2020 13

Business description (continued)

| FRAGRANCE PRODUCTS MARKET IN INDIA 2020 14

Total Income Net profit/loss Profitability Ratios

| FRAGRANCE PRODUCTS MARKET IN INDIA 2020 15

Key business segments Key geographical segments

Others (Includes Exports, Infant & Feminine Care Etc.)

| FRAGRANCE PRODUCTS MARKET IN INDIA 2020 16

Company information Business description

| FRAGRANCE PRODUCTS MARKET IN INDIA 2020 17

Return on Assets % 17.2% 16.6% 15.9% 15.7%

| FRAGRANCE PRODUCTS MARKET IN INDIA 2020 18

Key business segments Key geographical segments

| FRAGRANCE PRODUCTS MARKET IN INDIA 2020 19

| FRAGRANCE PRODUCTS MARKET IN INDIA 2020 20

Business description (continued)

| FRAGRANCE PRODUCTS MARKET IN INDIA 2020 21

50,000.0 Return on Assets % 19.7% 19.7% 17.1% 16.8%

40,000.0 Return on Capital % 27.6% 27.8% 24.1% 23.7%