Titan Company Ltd, earlier Titan Industries Ltd, a globally renowned brand of versatile segments, has decided to enlarge its reach, by entering into the fragrances market in India.
According to the plans, the brand will be launched by mid-September.
“The existing brands available in India are very expensive. There is no Indian player and there is an opportunity to bring in quality and an Indian brand name in the space. Every Indian does not want a foreign brand,” Bhaskar Bhat, managing director of Titan Company told Business Standard, a business media organisation.
The fragrance market in India is estimated to be growing at a compound annual growth rate (CAGR) of over 40 per cent and is likely to reach Rs 10,000 crore by 2015, according to The Associated Chambers of Commerce and Industry of India (Assocham). The industry is currently seen at about Rs 4,000 crore.