The 25-year-old brand RIYA is the No. 1 perfume brand by value share in India with a 10.8% share: Nielson IQ Retail Audit Report, Jan-Dec 2021
New Delhi: Leading perfume brand RIYA has completed the milestone of 25 years in the perfumes industry with a turnover of INR 80 crore despite pandemic-led market challenges in FY 2021-2022.
Founded in Kolkata in 1997, RIYA has also been certified to be the Perfume Segment Leader in India by Value Share for the third consecutive year by the prestigious Nielson IQ Retail Audit Report, Jan-Dec 2021.
The perfume business in India was INR 790 crore industry excluding the e-commerce revenue as per as the Nielson IQ Retail Audit Report, Jan-Dec 2021. The industry is expected to grow to INR 1200 crore(including e commerce) by 2025.
The homegrownbrand, which has a pan India presence, is targeting a 20% market share in the growing perfume industry by 2025 to achieve INR 240 croreturnover.
“India has a long history of perfumery expertise dating back over 300 years. The familiarity of the average Indian with complex fragrances, coupled with strong cultural factors has given Indian fragrances a unique character. Western idea of perfumes is more evolved on the axis of luxury and exotic, rare fragrances hence highly unaffordable for the mainstream Indian consumer. RIYA has smartly value-positioned itself with powerful Indian concepts and olfactory knowledge to appeal to the sensorial sensibilities of tier I, II, and III markets besides metropolitan cities,” said Mr AdityaVikramDaga, Founder & CEO, Purpos Planet.
“As perfumes are now increasingly becoming a part of everyday personal grooming instead of just for special occasion usage, the brand faces the challenge of widespread unorganised and rip-offs in perfumes market of the tier II and III cities. Genuine global brands remain too expensive for everyday consumption and are beyond mass market consumer reach, so most of them continue to remain special occasion perfumes. We are focusing on this alternative space to global brandsto expand the market,” he added.
PurposPlanet, was established in 2020out of a restructuring exercise to diversify and grow the brand RIYA. The brand is on an expansion spree with plans of expanding its offline presence in the new consumer segments besides its debut on various ecommerce and social commerce platforms.“Currently, RIYA offersa range of perfumes, deodorants, room fresheners, air fresheners. We have a pan-India presence except in Kerala. We will aggressively expand our distributionfurther in the existing markets and foray into new territories. Besides perfumes’ aggressive growth to consolidate our market leadership, we are equally focused on diversifyinginto beauty, grooming and personal careproduct categories to be announced in the near future. Given RIYA’s unique price-value proposition, we have social and eCommerce-specific strategies in advanced stages of finalisation,” added Mr Daga.
Interestingly, the brand has never spent significant funds on marketing. Trust and consistent world-class quality perfumes experienceperformed wonders for the brand.
RIYA is a 25 years’ old Indian perfume brand offering world class fragrances at a popular price. Launched in 1997 by co-founders,Mr. N.K. Daga and Mr. L.K. Soni, in Kolkata, with a humble capital of INR 1 lakh, RIYA was born to cater to the consumers in hyper-local markets of India.
The brand today has pan India presence (except Kerala) and has become the No. 1 perfume brand and market leader in India with 10% market share. With a current turnover of INR 80cr, Riya aspires to be an INR 240 cr company with 20% market share by 2025.
As per Nielson IQ Retail Audit Report, Jan-Dec 2021, Riya is the Perfume Segment Leader in India by Value Share, for the third consecutive year.
Riya’s product line consists of Perfume, Deodorant, Room Freshener & Air freshener with a price range between INR 35 to 625. Some of the recent launches from Riya are Black Rock, Combo- Hipster (Bindas + Bawri), Vogue (Bindas), Duet (Melody).
Riya at a glance:
• 1997 – RIYA was founded
• 1999 – Survived cyclone disaster & Stood at its feet again
• 2000 – Clocked 5 cr turnover & Started Distribution from Delhi
• 2021 – Riya No. 1 Perfume Brand as per NIQ certificate
• 2021 – 80 cr turnover even affected by Covid pandemic
• 2025 – 240 Cr Vision with 20% market share
RIYA has big plans and goals for the future. From growth in revenue & market share to expansion in presence and no. of dealers to diversification into other product categories to foraying into E-commerce. The team is set to mark its 25th anniversary with some landmark achievements.