Rasasi Perfumes, one of the leading perfume brands in the Middle East, has recorded an increase of 4 per cent in sales during the first half of 2017 compared to the previous year, and claims more than a 25 per cent share of all fragrance sales among the GCC-based manufacturers.
Rasasi is forecast to end the year with an 8 per cent increase up on 2016, positively contributing to the overall fragrance market in the region.
With the fragrance market in the region estimated to be valued at Dh5.5 billion ($1.49 billion) to Dh6.5 billion ($1.7 billion), Rasasi owns over 15 per cent market share in the region – further establishing itself as an industry leader, the company said.
Salim Kalsekar, managing director of Rasasi Perfumes, attributes the company’s strong performance to a growing retail footprint across the GCC, as well as continued diversification of the company’s range and growing demand for traditional fragrances, such as oudh, among a new generation of consumers who are keen to celebrate their heritage.
Kalsekar said: “We project that the economic conditions will become increasingly favourable as the year progresses, especially with Eid Al Adha motivating a larger spend dedicated to Arabic perfumes and gifts in the region.”
“We look forward to building on this growth in the GCC as we prepare to open new outlets in targeted locations and introduce fresh, innovative products to market,” he added.
Rasasi is looking to expand its footprint with 10 new outlets in 2017 alone, including stores in Mercato and Ittihad Malls in Dubai.
The kiosk in Bur Juman mall has been closed and a store is being opened as part of our aim to always offer the best and most relevant customer experience while the Mirdif store reopened in May with a new look and a dedicated VIP oudh section.
Ambitious expansion plans starting next year will see the esteemed perfume brand open 15 to 20 stores across the GCC by 2020 with scope to explore further pipeline opportunities, said a statement.
With over 200 products, the standout best-selling sprays are Hawas, Junoon, La Yuqawam and Wisam. The highly anticipated product for 2017 is the recently-launched Sotoor range, which literally means “a line of Arabic script”. This is in line with the rising trend of mixing traditional and modern scents into a fragrance, present in perfumes from both GCC based fragrance companies as well as global perfume houses.
Nevertheless, there are been a consistent growth of bukhoors thanks to well established products such as Raqiya, agarwood, oils and oudh moattars at compound annual growth rate (CAGR) of at least 8 per cent.
In line with the UAE Vision for 2021, Rasasi aims to incorporate a culture of innovation in its approach to upcoming projects while still remaining true to its heritage. The research and development arm is always working with these criteria being a fundamental part of their process in addition to quality.
For example they are working on a bukhoor product that smells like bubblegum, as well as a fragrance that combines two local favourites: honey and dates.
Kalsekar continued: “Through these exciting product launches, we are committed to the national vision as well as our commercial commitment to be at the regional and global forefront as a fragrance and manufacturing hub.”
With almost four decades of experience in blending scents that celebrate the rich tapestry of the Middle East and GCC, Rasasi prides itself on having an unrivalled knowledge of the finest traditions of Oriental perfumery, it stated. – TradeArabia News Service