People have embraced Riya for its unique fragrance and world-class quality in the last 25 years: Aditya Vikram Daga
Mumbai: A leading company in the perfume industry, Riya has become a well-known name in the country today. Established in 1997, Riya’s journey to becoming the No. 1 perfume brand in India has been a unique one. The brand was founded 25 years ago by Mr. NK Daga and Mr. LK Soni in Kolkata, which is currently headed by their son Aditya Vikram Daga. Right from its inception, the brand’s objective was to provide world-class perfumes at affordable prices to every household in India.
Riya is hyper-local. It is not limited to metros and has catered to the needs and sensibility of tier 1, 2, and 3 markets. While Riya is available at an attractive price, the quality is never compromised. This makes Riya different from other brands in the market. Interestingly, it never spent a penny on advertising. People of India have embraced Riya for its unique fragrance and world-class quality in the last 25 years.
Overcoming a disaster that almost shuttered their business, NK Daga and LK Soni reinvented RIYA as a perfume brand. Now, second-generation entrepreneur Aditya Vikram Daga wants to take the brand to new heights with his recently founded company Purpos Planet.
According to Aditya Vikram Daga, Founder & CEO, Purpos Planet, “Perfume is our legacy business and I have been growing up in a house where my father used to talk about perfumes, its processes, and various experimentations with the smell and fragrance. We are familiar with the aroma of various perfumes since our childhood. When I grew up, I also took a keen interest in the sector. Officially I have been with Riya for the last three years, but I have been working on learning various nuances of the business for the last six years. When I passed out from London Business School in 2019, instead of searching for a career in any other MNCs, I opted to join the family business of perfume. Now, I am in the process to restructure, diversify and grow the business.”
Expansion Plans for future
In the year 2019, Purpos Planet was established to restructure, diversify and grow Riya brand with its offices located in New Delhi and Kolkata. Presently, the brand is involved in Perfumes, Deodorants, Room Fresheners, and Air Fresheners. Riya is present in pan-India except Kerala. They intend to intensify business where they arealready present and expand to areas which are yet to be tapped.They are committed to accelerating their business, and are planning to diversify business and foray into different sectors, which will be revealed in due course. There are also some e-commerce plans.
Riya is certified as the Perfume Segment Leader in India by Value Share
Perfume business in India is 790 crore industry excluding E commerce as per Nielson IQ RetailAudit Report, Jan-Dec 2021. The industry is expected to be 1200 cr by 2025 including e- commerce.
In 2000, Riya started distribution from Delhi and achieved a turnover of 5 cr.According to the Nielson IQ Retail Audit Report, Jan-Dec 2021, Riya was certified to be the Perfume Segment Leader in India by Value Share. Riya’s market share by value has consistently grown in the last three years. At MS value of 10.8% in YEC 2021, it is reportedly ahead of other top players. Hinterland, wherein Riya has a strong focus, performed better than urban India according to feedback in the last few quarters. Riya perfumes are quality perfumery products that have been ranked first in value sales in the Perfume segment as per Nielsen IQ which is the industry leader in global measurement and data analytics and the most trusted source for retail and consumer intelligence. The retail index service covers “Grocers, General Stores, Chemists, Cosmetic Stores, Paan Plus Stores and Modern Trade Stores”.