Print Edition - 2018-11-12 | MONEY
Business of smelling nice booms in Nepal
Nov 12, 2018-
The demand for lifestyle products like perfumes and deodorants is on the rise in Nepal, with the country importing Rs335.48 million worth in fiscal year 2017-18 according to data from the Trade and Export Promotion Centre (TEPC).
This figure stood at Rs153.807 million in the previous fiscal year 2016-17.
Data from the TEPC show that the import of perfume has been trending upwards in the last five years. However, imports fell in 2015-16 due to the devastating earthquakes that hit Nepal. It has since recovered.
Perfumes are imported primarily from India and China. Nepal imported perfumes worth Rs227.524 million from India and Rs34.826 million from China in fiscal year 2017-18. The rest of the imports come from France, UAE, Indonesia, US, Spain, UK, Thailand, Italy and more.
According to traders, the perfume business has been posting double digit growth annually in the country. There is an increasing trend of gifting perfumes for birthdays and other occasions which has boosted the sale of perfumes, said traders.
Anup Agrawal, managing director of Access Nepal Trade Link, importer of Fogg deodorant and perfume in Nepal said that perfumes were previously thought of as luxury goods but it has since became a necessity among consumers, with increasing brand awareness. “It has become important to smell good whilst looking good,” he said.
According to him, Fogg holds 25 percent of the deodorant and perfume market in Nepal. Fogg deodorants and scents are imported from India and UAE. Their deodorant products cost anywhere from Rs300 to Rs800 while the price of their perfumes ranges from Rs1,600 to Rs3,000.
INA Center Nepal, a branded perfume shop in Nepal, has been selling perfumes for 25 years. Udhav Bartaula, director of the shop said that the perfume business has increased by around 15 percent annually. The shop sells European perfume brands in the country. The shop has been offering perfume brands such as Calvin Klein, Gucci, Versace, and Bentley among others. “We are selling 100 percent original perfume brands.” Gucci and Armani are some of the best selling brands, he said.
According to him, the sale of perfume goes up during special occasions and festivals like Dashain and Tihar, Valentine’s Day, New Year, Christmas and wedding seasons. Sales double during these periods, he said.
Published: 12-11-2018 09:18