Funding Alert

Perfume Lounge raise $250,000 in seed funding

• ByStartupStory     |    January 6, 2023

In India, the fragrance market is expected to treble over the next five years, and it is now experiencing spectacular expansion. The culture of careful personal grooming is being driven by the explosion of “Made in India” businesses catering to the varied desires of youthful audiences, with an annual growth rate of 20.03 percent in 2022. 

Perfume Lounge has already debuted two popular product lines, Taboo (for women), and NOWW, to capitalize on this trend (for men). Gin, Tonic (for ladies) and Designer Club are the two new product categories the company is now releasing to expand its line-up (for men). Both their own website and numerous e-commerce platforms carry every product range. For the Indian market, Perfume Lounge creates scents based on the most recent global trends. After Taboo, Gin & Tonic is the second launch in the women’s category. It is designed for today’s modern, independent women and costs Rs. 1199. The new men’s product line Designer Club, priced at Rs. 1299, is aimed at trend-setters and fashion-conscious consumers. 

Industry veterans Parvesh Bareja, Deepak Agrawal, and Shivam Sood created the Delhi-based company. The mission of Perfume Lounge is to provide customers with a wide selection of perfumes at competitive pricing. The company has initial funding and plans to raise more money. It anticipates experiencing tremendous growth by 2025. 

CEO of Perfume Lounge Shivam Sood said on the releases, “ The pandemic has created a new breed of consumers that are comfortable buying fragrances online. Simultaneously social media has created a lot of awareness and aspirations for the young consumers to try new products and brands. Consumers now want products that are on par if not better than what’s available internationally. We want to meet this new demand through our data-driven approach in understanding the choices of young Indians. We will develop multiple product lines targeted specifically at various segments of the market.”

On Nykaa and Amazon, Perfume Lounge sells product lines including NOWW for men and Taboo for women. In the upcoming months, the company will launch new fragrance lines in numerous geographies and across categories at reasonable pricing points.

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