CPL Aromas extends its footprint into India
The UK-based company, which is also specialised in household fragrances, says that the new purpose built facility will feature full service sales, marketing, as well as a creative centre.
The facility includes a perfumery laboratory with product performance and evaluation facilities, together with an enhanced team of account managers, evaluators and marketing support.
CPL focus on India forms integral part of business strategy
The facility is located in the Lower Parel region of Mumbai, and the company says that the investment forms an integral part of its current business strategy because the India market is a key target for future business expansion plans.
The company has been present in the India market for over 30 years, but is says that a recent change in its ownership structure has proved a catalyst for the new investment in the subcontinent.
This entailed the CPL Group gaining full control of the India branch, which in turn has enabled it to combine group resources with respect to investment to give improved levels of expertise and customer service.
“This major new investment is a significant step forward for the company and provides the modern facilities required for us to deliver world class fragrances to our customers,” says managing director Sheetal Desai.
Indian fragrance market earmarked for strong growth
India has been identified as having enormous growth potential for the cosmetics industry, according to a new report from market researcher Canadean, which suggests that the country’s fragrance market is the fastest growing sector.
According to the latest report, all Health and Beauty categories in India will witness positive growth over the next five years, and fragrance is singled out as one of the fastest growing sectors, showing no sign of slowing down.
“With a value CAGR (Compound Annual Growth Rate) of 20.2 per cent, the Fragrance sector is the second fastest growing sector in the Indian Health and Beauty industry towards 2017, with only the Personal Hygiene sector ahead of it,” says Canadean.
The volume of the Fragrance sector is expected to grow at a CAGR of 16.5 per cent for the same period, and female fragrances are also tipped to grow ahead of the Indian fragrances sector to 2017.