SYMBIOSIS COLLEGE OF ARTS AND COMMERCE

A PROJECT REPORT ON

“STUDY ON THE ROLE AND CHALLENGES OF TRANSFORMING A

PERFUME STARTUP INTO A BUSINESS”

SUBMITTED TO

SYMBIOSIS COLLEGE OF ARTS AND COMMERCE

FOR THE PARTIAL FULFILLMENT OF REQUIREMENT OF MASTERS OF

COMMERCE (M.COM) DEGREE

SUBMITTED BY

ALEN KUNJACHEN BABU

M.COM (PART II)

ROLL NO – 8316

UNDER THE GUIDANCE OF

Dr. NARENDRA PARCHURE

PUNE – 411016

(YEAR: 2018-2020)
 DECLARATION

I, Alen Kunjachen Babu hereby declare that the project work entitled “Study on the role
and challenges of transforming a perfume startup into business”.
Submitted to Symbiosis College of Arts and Commerce, is a record of original work done
by me under the guidance of Dr. Narendra Parchure, Faculty member of Symbiosis College of
Arts and Commerce. This project work is submitted in the partial fulfillment of the requirements
for the award of degree Masters of Commerce (M.com).

Alen Kunjachen Babu

M.com (Part II)
Roll no - 8316
 ACKNOWLEDGEMENT

The research report will not be completed without mentioning the people’s name that
helped me a lot for the completion of this project report. I am expressing my gratitude towards
all those who were engaged in this and they provided me full satisfaction that I have received in
the total time period of the research project.

I would like to extend my heartfelt gratitude to my research guide Dr. Narendra Parchure, who
inspired me a lot and guided me in every direction along the whole journey of my research
project. Without his help and constant support this research project wouldn’t be a successful
completion. And I would you like to thanks Mr Sakharam Ingulkar and Raut Kaka.
I would like to express my gratitude and sincere respect towards Dr. Hrishikesh Soman,
Principal, Symbiosis College of Arts and Commerce, for providing this opportunity to undertake
this research project in my graduation courses.

I would like to thanks my parent and other family members for their constant love and
support. Lastly, I would like to thanks all my friends, for this contribution by sharing their
perceptions and opinions with me.
 INDEX

Chapters Particulars Page

no.
1. Introduction 1 - 18

2. Company Profile 19 - 44

3. Literature Review 45 - 54

4. Research Design 55 - 64

5. Data Analysis and Interpretation 65 - 83

6. Findings and Conclusion 84 - 86

7. Suggestions and Recommendations 87 - 88

Bibliography and Webliography

Annexures
 List of Figures

Figure No. Particulars Page No.

Fig 1.1 Lifecycle of startups 5

Fig 2.1 Ancient Egyptian perfume vase 20

Fig2.2 25
Fragrance wheel perfume
classification chart

Fig 2.3 Tapputi 29

Fig 2.4 The main heartland of the city of Kannauj 33

Fig 2.5 The current deg and bhapka method 35

practiced in Kannauj

Fig 3.1 Khushbu Perfume 46

Fig 3.2 Set of luxury perfume 47

Fig 3.3 Set of natural oud 48

Fig 3.4 Collection of natural and essential oil 49

Fig 3.5 A 100ml bottle of Kashmiri Oud 49

Fig 3.6 Mr. Aseem Sheikh 50

Fig 3.7 Tom Ford Tobacco Vanille perfume 52

Fig 3.8 The same Tom Ford Tobacco Vanille 52

perfume made by Khushbu Perfume

Fig 3.9 Collection of designer perfumes 53

Fig 3.10 The respondent along with the owner of 54

Khushbu Perfumes
CHAPTER 1
INTRODUCTION
 CHAPTER 1
INTRODUCTION
1.1 Introduction
The objectives of a startup are to be one’s own boss and to create employment to others
which warrants lot of endurance and sacrifice. Large population with high percentage of
middle income group, educated youth with technical background, IT domination, high internet
and mobile penetration are some of the drivers that have thrown up opportunities for spreading
startup revolution in India. The ‘Make-in-India’ initiatives and other government schemes have
also given a boost to startups with many individuals entering the fray. Starting a venture is a
well-planned and disciplined exercise with due consideration of both internal and external factors
that may impact the sustainability of the venture. The idea behind the venture, market size,
revenue and profit targets are some of the important factors that need to be clearly defined before
embarking on the journey. Time, team work and tenacity are important elements which
determine entrepreneurial success. Infrastructure, government regulations and availability
of finance at various stages of growth could be some of the challenges for startups. In fact,
history is replete with examples of startups which began with big fanfare but ended as damp
squibs within a short span of time due to various reasons. The paper discusses few issues and
challenges that an Indian startup has to face and the opportunities that the country can provide in
the current ecosystem. The objectives of a startup are to be one’s own boss and to create
employment to others which warrants lot of endurance and sacrifice. Large population with
high percentage of middle income group, educated youth with technical background, IT
domination, high internet and mobile penetration are some of the drivers that have thrown up
opportunities for spreading startup revolution in India. The ‘Make-in-India’ initiatives and
other government schemes have also given a boost to startups with many individuals entering the
fray. Starting a venture is a well-planned and disciplined exercise with due consideration of both
internal and external factors that may impact the sustainability of the venture. The idea behind
the venture, market size, revenue and profit targets are some of the important factors that need to
be clearly defined before embarking on the journey. Time, team work and tenacity are important
elements which determine entrepreneurial success. Infrastructure, government regulations
and availability of finance at various stages of growth could be some of the challenges for

1
startups. In fact, history is replete with examples of startups which began with big fanfare but
ended as damp squibs within a short span of time due to various reasons. The paper discusses
few issues and challenges that an Indian startup has to face and the opportunities that the country
can provide in the current ecosystem. The objectives of a startup are to be one’s own boss
and to create employment to others which warrants lot of endurance and sacrifice. Large
population with high percentage of middle income group, educated youth with technical
background, IT domination, high internet and mobile penetration are some of the drivers that
have thrown up opportunities for spreading startup revolution in India. The ‘Make-in-India’
initiatives and other government schemes have also given a boost to startups with many
individuals entering the fray. Starting a venture is a well-planned and disciplined exercise with
due consideration of both internal and external factors that may impact the sustainability of the
venture. The idea behind the venture, market size, revenue and profit targets are some of the
important factors that need to be clearly defined before embarking on the journey. Time, team
work and tenacity are important elements which determine entrepreneurial success.
Infrastructure, government regulations and availability of finance at various stages of growth
could be some of the challenges for startups. In fact, history is replete with examples of startups
which began with big fanfare but ended as damp squibs within a short span of time due to
various reasons. The paper discusses few issues and challenges that an Indian startup has to face
and the opportunities that the country can provide in the current ecosystem.

The globalization and liberalization prompted high way of life in urban and rural India. It
came about into expanded interest for trendy items particularly among the more youthful age.
The young people adjust new design, style and patterns with a tendency towards body scents to
introduce their one of a kind picture. Scents impact the state of mind and conduct of people and
structure a significant piece of aromas which comprise embodiment, flavors smells in all edibles
and non-edible items. The fragrance based treatment is the best case of aroma influence. The
youthful populace of India between the ages of 15 to 30 is most elevated population on the planet
which is professed to be a high potential market to utilize scents, latrine water, cologne and other
cosmetic products. The youngsters living in urban India are progressively brand cognizant and
are vital to the future India. The new global participants from France, Spain, Italy and China
have additionally built up the techniques and reserved the purchasing thought processes of Indian

2
market. Scents are a component of makeup and the cosmetic market is thriving at a quick pace.
Beautifying agents today have become a piece of life in all age gatherings of people while
aromas are generally utilized everywhere throughout the world. Maharashtra and Uttar Pradesh,
the two most crowded conditions of India, are at 16th and 25th situation in world positioning.

The destinations of a startup are to work for oneself and to make work to others which
warrants parcel of endurance and sacrifice. Huge population with high level of center pay
gathering taught youth with specialized foundation, IT mastery, high web and versatile
infiltration are a portion of the drivers that have hurled open doors for spreading startup
insurgency in India. The 'Make-in-India' activities and other government plans have additionally
given a lift to new businesses with numerous people entering the fight. Beginning an endeavor is
an all-around arranged and restrained exercise with due thought of both inner and outer variables
that may affect the manageability of the endeavor. The thought behind the endeavor, showcase
size, income and benefit targets are a portion of the significant components that should be plainly
characterized before leaving on the excursion. Time, cooperation and steadiness are significant
components which decide enterprising achievement.
Foundation, government guidelines and accessibility of fund at different phases of
development could be a portion of the difficulties for new businesses. Actually, history is packed
with instances of new businesses which started with enormous hype however finished as clammy
squibs inside a limited ability to focus time because of different reasons.
A startup can be defined as a new business that is in the starting or the initial stage of its
operation, which is beginning to grow and is generally financed by individual or small group of
individual. It is a young up and coming, innovative business model built on technology and
innovation.

ENTREPRISE
The word enterprise describes the action of someone who shows some initiative by taking
some risk by setting up, investing in and running a business.
The person who takes initiative is someone who “makes things happen”.

3
 All business elements carry an element of risk – which is the chance or probability that
things will go wrong. At the worst, the risk of an enterprise means the person making the
investment loses his/her money or personally become liable for the debts of the business.

ENTREPRENUSHIP
“Entrepreneurship is much broader than the creation of a new business venture,” said
Bruce Bachenheimer.
An entrepreneur is someone who can take any idea whether it be product and/or service ,
and have the skillset, will and courage to take extreme things to do whatever it takes to change
the concept into reality and only bring it to market, but make it a viable product and/or service
that people want or need.

The life cycle of startups

However, startups are diversified and complex in nature, these entities have their years.
Since the sequence of activities and stages might vary among different startups, a holistic
perspective is presented in this paper to offer a better understanding of the lifecycle of startups.
The stages are as follows

1. Bootstrapping stage
2. Seed stage
3. Creation stage

4
 Figure 1.1 Lifecycle of startups (source: self-elaborated)

Bootstrapping stage
In the initial stage, the business person himself/herself starts a lot of exercises to turn
his/her thought into a beneficial business. In any case, he/she thinks about a higher hazard or
even vulnerability level, keeps dealing with the new pursuit thought, makes a group, utilizes
individual assets, and approaches relatives and companions for their interest in the thought.
Bootstrapping, which is now and then characterized as exceptionally innovative methods for
procuring the utilization of assets without acquiring, is viewed as one of the territories of
business explore that most should be tended to. The purpose of this stage is to situate the
endeavor for development by showing item possibility, cash management capacity, groups
building and the board, and client acknowledgment (Brush et. al., 2006). Besides, holy
messenger financial specialists are bound to put resources into this stage. In entirety, as Harrison

5
et al. (2004) contend: "bootstrapping is a lifestyle in innovative organizations". This contention
uncovers the motivation behind why the greater part of the speculations of new companies is
acquired from business enterprise hypotheses

Seed stage
After the bootstrapping stage, the founder goes into another stage, which is the seed
stage1. This stage is portrayed by collaboration, model advancement, passage into showcase,
valuation of the endeavor, looking for help components, for example, quickening agents and
hatcheries, and normal speculations to develop the startup. To be perfectly honest talking, for
most new businesses the seed arrange is a wreck and is understood as profoundly unsure. The
seed organize is portrayed by the underlying capital that is utilized to do item or potentially
administration .Therefore, originator looks for help components, for example, quickening agents,
hatcheries, private company advancement focuses, and incubation facilities to quicken the
procedure. An extraordinary number of new companies flop right now. Since they couldn't
discover bolster systems and in best case they would go to a low benefit organization with a low
pace of progress. Then again, the individuals who prevail with regards to accepting help would
have a higher possibility of turning out to be productive organizations. It's a given that valuation
is ordinarily done toward the finish of this stage.

Creation stage
Creation stage happens when the organization sells its items, goes into market, and
contracts first workers. A few researchers accept that entrepreneurship stops when the creation
arrange is finished. This backings the contention that a large portion of the speculations which
spread new companies are acquired from entrepreneurship theories and not management and
organization theories. Toward the finish of this stage, association/firm is shaped and corporate
account is considered as the primary decision for financing the firm. Investments could
encourage the creation organize, by financing the endeavor.

6
 THE STARTUP SCENARIO IN INDIA
It is to be noted that every year more than 800 technology startups are being set up in
India. By 2020, it is estimated that around 11,500 tech-startups are going to be
established with employment potential of around 250,000 technical people (NASSCOM, 2015).
It is admirable to note that India is amongst the top five countries in the world in terms of
startups with 10,000+ led by US with 83,000+ comprising 43% tech-based firms with
9% managed by women entrepreneurs. The number of incubators also has crossed 100 in 2014-
15 to give boost to the startup saga (Grant Thornton, 2015).Sector wise, the distribution of Indian
businesses is.
Break-up of Indian Startup Businesses
TECHNOLOGY BASED NON TECHNOLOGY BASE

E-Commerce - 33% Engineering- 17%

B2B - 24% Construction-13%
Internet - 12% Agri- products- 11%
Mobile apps - 10% Textile - 8%
SaaS - 8% Printing & packaging – 8%

Other – 13% Transport & logistics- 6%

Outsourcing & support -5%

Others-32%
Source: Startups India- An Overview, Grant Thornton, 2015

Startup Ecosystem in India

Alongside government activities, there is an unmistakable development in startup field in
India because of infiltration of IT and web. Numerous new companies are coming up in
administration segment including instruction, lawful, retail, protection and wellbeing. With
clients getting mindful of the advantages and comfort, the notoriety and feasibility of new
businesses is not any more a troublesome suggestion for an entrepreneur. A number of financial
speculators and blessed messenger speculators are forceful and gung-ho on Indian new
companies as they see parcel of potential with not many expected to become unicorns (high

7
esteemed organizations) acquiring great returns. Actually, there are instances of not many new
companies that fizzled and in the end shut their organizations because of different issues and
difficulties. India being a huge nation with over 130Cr populace, gloats of high segment profits
because of huge number of youngsters. As indicated by the most recent UN report India with 356
million 10-multi year-olds have the biggest centralization of youth populace who will be the
main impetus behind advancement and creation with proportionate interest and utilization of
products and enterprises (Mittal, 2014). India has a one of a kind arrangement of issues because
of multicultural and multilingual districts that need advancements to discover answers for
wellbeing, training, foundation, sanitation and for populace at the 'base of-the-pyramid' space.
India is the second biggest crowded nation on the planet with 1.2 billion populace quality.
To conceal this enormous populace there exist huge probability of occupation showcase in India.
Yet, According to the most recent Asia Pacific Human Development Report, India is confronting
serious shortage of employment advertise; development in joblessness among youthful alumni
and it will keep going for next 35 years. As indicated by Labor Ministry information, around 1
million individuals enter the workforce in India consistently. To kill this shortage of occupation
advertise, our own Honorable Prime Minister Dr. Narendra Modi, declared on fifteenth August
2015, "Start Up India, Stand Up India" to advance Bank Financing for new companies and
extend to motivations to flaunt enterprise and employment creation.

New businesses have been the kind of the period in the course of the most recent couple
of years for the Indian markets. This has come about into the development of various home
developed unicorns the nation over. One of the significant patrons prompting this improvement
has been the super financing that has been furrowed into the majority of these unicorns between
the period 2007 and 2017. This has been in accordance with the worldwide pattern
overwhelming the space. Indeed, even the hopeful unicorns have had a good run during this
period, where figuring out how to discover financial specialists is generally viewed as an intense
assignment. The patterns of speculations propose that financial specialists need to enter as an
early speculator, even before the beginning of the firm. From a by and large review, India seems
to be a flourishing under-entered purchaser driven market with a scope for exponential
development. Web infiltration and its expanding significance will drive the greater part of the
organizations. By virtue of the customer socioeconomics, with China being beyond the field of

8
play, India offers the biggest pie of speculation opportunity that the world is looking at. This is in
spite of the large number of operational, administrative and tax collection gives that encompass
the business running condition in India.

Every issue gives an exceptional chance to new companies to make a business around it.
India's tele-thickness arrived at 76.55 percent with an endorser base of 95.76Cr acquiring
comfort and reach to purchaser sections including Tier-2 and 3 towns (TRAI,2017).This
expanded versatile infiltration has given a fillip to Indian economy with E-trade accumulating
expanded offer. Further, GoI's computerized push will improve network and information to more
elevated levels getting more programming applications to discover answers for everyday issues.
The decrease in information charges will likewise help new businesses to take advantage of new
markets and even upset customary organizations along with government initiatives; there is a
definite movement in startup arena in India due to penetration of IT and internet. Many
startups are coming up in service sector including education, legal, retail, insurance and
health. With customers becoming aware of the benefits and convenience, the popularity and
viability of startups is no more a difficult proposition for an entrepreneur.

A number of venture capitalists and angel investors are aggressive and gung-ho on
Indian startups as they see lot of potential with few expected to become unicorns (high
valued companies) bringing in good returns. On the contrary, there are examples of few startups
that failed and eventually closed their businesses due to various issues and challenges.

India being a large country with over 130Cr population, boasts of high demographic
dividends due to large number of young people. According to the latest UN report India with 356
million 10-24 year-olds have the largest concentration of youth population who are going to be
the driving force behind innovation and creation with commensurate demand and consumption
of goods and services (Mittal, 2014). India has a unique set of problems due to multicultural and
multilingual regions that need innovations to find solutions to health, education, infrastructure,
sanitation and for population at the ‘bottom-of-the-pyramid’ space. Each problem provides a
unique opportunity for startups to create a business around it. India's tele-density reached 76.55
percent with a subscriber base of 95.76Cr bringing in convenience and reach to consumer

9
segments including Tier-2 and 3 towns (TRAI,2017).This increased mobile penetration has given
a fillip to Indian economy with E-commerce garnering increased share. Further, GoI’s digital
push is going to improve connectivity and data to higher levels bringing in more software
applications to find solutions for day-to-day issues. The reduction in data charges will also help
start-ups to tap into new markets and even disrupt traditional businesses

Alongside government activities, there is an unmistakable development in startup field in

India because of infiltration of IT and web. Numerous new companies are coming up in
administration segment including instruction, lawful, retail, protection and wellbeing. With
clients getting mindful of the advantages and comfort, the notoriety and feasibility of new
businesses is not any more a troublesome suggestion for an entrepreneur. A number of financial
speculators and blessed messenger speculators are forceful and gung-ho on Indian new
companies as they see parcel of potential with not many expected to become unicorns acquiring
great returns. Actually, there are instances of not many new companies that fizzled and in the end
shut their organizations because of different issues and difficulties. India being a huge nation
with over 130Cr populace, gloats of high segment profits because of huge number of youngsters.
As indicated by the most recent UN report India with 356 million 10-multi year-olds have the
biggest centralization of youth populace who will be the main impetus behind advancement and
creation with proportionate interest and utilization of products and enterprises (Mittal, 2014).
India has a one of a kind arrangement of issues because of multicultural and multilingual districts
that need advancements to discover answers for wellbeing, training, foundation, sanitation and
for populace at the 'base of-the-pyramid' space. Every issue gives an exceptional chance to new
companies to make a business around it. India's tele-thickness arrived at 76.55 percent with an
endorser base of 95.76Cr acquiring comfort and reach to purchaser sections including Tier-2 and
3 towns (TRAI,2017).This expanded versatile infiltration has given a fillip to Indian economy
with E-trade accumulating expanded offer. Further, GoI's computerized push will improve
network and information to more elevated levels getting more programming applications to
discover answers for everyday issues.
The decrease in information charges will likewise help new businesses to take advantage
of new markets and even upset customary organizations.

10
 Along with government initiatives, there is a definite movement in startup arena in India
due to penetration of IT and internet. Many startups are coming up in service sector
including education, legal, retail, insurance and health. With customers becoming aware of the
benefits and convenience, the popularity and viability of startups is no more a difficult
proposition for an entrepreneur.
A number of venture capitalists and angel investors are aggressive and gung-ho on
Indian startups as they see lot of potential with few expected to become unicorns (high
valued companies) bringing in good returns. On the contrary, there are examples of few startups
that failed and eventually closed their businesses due to various issues and challenges.

Perfume Business
One of the fundamental difficulties Perfumes industry is confronting today is the steady
need to improve, broaden, update, and make new aromas that intrigue to the various purchaser
sections around the world. Scents as extravagance frill purchases are one of the most famous
must-have things on the optimistic purchasers' rundown also. Scents are a blend of fundamental
oils and smell mixes alongside water as well as liquor and are utilized to upgrade personal
stench. The aromas business has encountered huge item developments throughout the most
recent couple of years. The utilization of normal and inexhaustible fixings is getting acceptable
footing. Apart from conventional scent bundling techniques, fragrances are presently accessible
as movement splashes and rollerballs, which is relied upon to support the worldwide aromas
advertise development over the conjecture time frame. Beginning a fragrance business is an
undertaking that consolidates creative individual articulation and business know-how, and
whenever drew nearer effectively, it can bring about a superb overall revenue. Scent causing
business to can be a gainful endeavor when you know about the fundamental things of the
promoting of the item. Organizations in portions, for example, bread shop, candy parlor, nibble
nourishment and refreshments that have been increase in India, expect their flavor accomplices
to likewise focus in and work close by. The greater part of development for enhance
organizations is originating from developing markets.
Smell is a cultural and social wonder. Individuals (nearby different creatures) bond over
smell and partner scents apparent with specific recollections. In certain societies, smell is critical
to the point that there are a greater number of modifiers to portray smells than there are for sights

11
or sounds. Smell is a frequently underestimated at this point intense enthusiastic energizer.
Patrick Susskind in his book "Fragrance: The Story of a Murderer" enamors with a fascinating
story line as well as with an intensity of smell over a man. The strengthening is all around
portrayed in the accompanying statement: "Scents have an intensity of influence more grounded
than that of words, appearances, feelings, or will. The convincing intensity of a smell can't be
battled off, it goes into us like breath into our lungs, it tops us off, saturates us completely. There
is no solution for it."
Perfumery is the demonstration of joining diverse olfactory ingredients, natural oils and
substance atoms, into an amicable fragrant entire—an aroma. For whatever length of time that
records of perfumery have been kept, the primary going back to Mesopotamian times, crafted by
creating aromas has been a vocation for "the Nose"— a specialist with the information on
pairwise integral fragrance fixings, their volatilities, smell life spans and different perspectives
that assume job in scent making. This skill is regularly obtained over numerous long periods of
preparing and preliminaries of various blends of fixings. .

A fragrance is a careful synthetic equation, created by the Nose utilizing his/hers long
stretches of understanding of experimentation of large numbers of fixing mixes. Each aroma
comprises of a particular mix of fundamental oils, which brings about a one of a kind fragrance
of the scent. It is then weakened with liquor to bring about cologne, eau de fragrance or eau de
toilette.
Aromas are frequently depicted utilizing notes. Notes are descriptors of fragrances that
can be detected upon the utilization of a scent. Structures of a few notes, specifically the famous
organizations that happen in a wide range of aromas are called accords (from the French for a
melodic harmony).
To make a well-adjusted sweet-smelling blend, a wide range of scents are joined, so notes
in a fragrance are frequently changed and different.
Perfume and fragrances have consistently improved the prepping propensities for people
and have become significant results of everyday life. Perfume is a blend of basic oils and smells
mixes and is utilized to improve personal stench. These items are additionally used to
communicate individual style, independence, and fearlessness. Purchasers are inclining toward

12
scent and fragrance items than extravagance things, for example, packs or shoes as they are
progressively moderate.

The worldwide scent and fragrance market can be fragmented based on use, type, item,
dissemination channels, and topography. Based on utilization, the market can be portioned by
female, men, and unisex fragrances. The unisex scent section is foreseen to become essentially
over the figure time frame attributable to the development in the quantity of unisex fragrance
items. Based on type, the market can be fragmented by premium items and mass items. Premium
items are overwhelming the worldwide scent and fragrance advertise attributable to the
accessibility of different brands at moderate expense. Based on item, the scent and aroma market
can be divided by fragrance, antiperspirant, move on, and other.
Based on appropriation channels, the market can be sectioned by on the web, retail,
departmental stores, physical retail, and others. Different corrective and toiletry organizations are
going into associations with the web based business players so as to extend the item portfolio and
henceforth the online retail dissemination channel is foreseen to develop at a noteworthy rate
during the figure time frame. Geologically, the worldwide scent and fragrance showcase is
portioned into North America, Europe, Asia Pacific, Middle East and Africa, and South America.
North America area is relied upon to rule the market during the gauge time frame because of
components, for example, developing economy and development in deals of premium items.

The worldwide aroma and scent advertise is exceptionally immersed with enormous
number of players. A portion of the key players are Coty Inc., Bvlgari, Gucci, Procter and
Gamble, Prestige Beauty, L'Oreal International, Firmenich, LVMH, Elizabeth Arden Inc.,
Perfumania Holdings Inc., Estee Lauder Beautiful, Avon Products Inc. furthermore, Calvin Klein
Inc. Players are putting resources into extension of item portfolio in creating districts, for
example, Asia Pacific and Middle East and Africa.
Perfumes and flavors are an agreeable mix of normal and/or manufactured fixings basic
to loan taste and smell to nourishment, pharmaceutical, individual consideration, texture care and
family care items, satisfying the faculties in totality. Assuming Perfumes and flavors are
dispensed with from utilize our, life will get dull and exhausting, not adequate to live.

13
Fortunately, today Perfumes and flavors are available all through all degrees of item directly
from a costly one to the least expensive and assume a priceless job by its exhibition and sign
ascribes to deal with this passionate need, animating just as quieting or loosening up the client.
The flavor and Perfumes industry in India is divided, with top worldwide players and
neighborhood players of different sizes contending in a similar commercial center.
India has been a land of olfactory indulgence — this is where attar, incense and
aromatherapy have existed for thousands of years, and personal perfumes are part of ancient
royal lore. On the other hand, there is virtually no modern Indian perfume that could stand on its
own against the sophisticated, marketing-driven, branded perfume industry in the West, notably
Europe.

Requirements of Perfumery compounds

If a compound is to serve as a synthetic perfumery compound it has to comply with three
essential requirements and failure of any of these requirements will prevent it being a useful
synthetic perfumery compound.

•One requirement is that the compound has, at low concentrations, a pleasant odour and
can be blended with other perfumery compounds to give pleasant blended odours.
•Another requirement is that it is stable in compositions in which it can be used
commercially, for instance when in soap or shampoo its odour and other properties must not
change on storage.
•The third requirement is that the compound must be capable of being synthesized at low
cost from readily available starting materials. There is little or no commercial interest in
compounds as synthetic perfumery compounds if their synthesis requires expensive and poorly
available starting materials or if it requires expensive process steps, since the reason for
providing synthetic perfumery compounds is to get away from the expense of natural perfumery
compositions.

14
 Most of the thousands or millions of low molecular weight aliphatic compounds have an
odour but, despite this, very few of them are useful as synthetic perfumes since very few have
the required combination of useful odour characteristics (especially when blended), stability to
compositions in which they can be used (e.g. soaps), and low cost.
There is a continuing demand for new synthetic perfumery compounds, especially
compounds that are easy to make economically and that have perfumery properties that render
them very valuable for use in a wide range of perfumery compositions.

Perfume business in India

India has a deep historical connection to the world of fine fragrances. For quite a long
time, the town of Kannauj in the northern territory of Uttar Pradesh has been known as the
nation's aroma capital, creating the customary attar. Furthermore, various fixings from India,
including jasmine oils, sandalwood, and rose water, are utilized by extravagance perfumeries
around the globe.

However, for this rich history, there will never be been an Indian fragrance brand to
contend with any semblance of France's Frederic Malle or Britain's Jo Malone, or even the in
vogue top choices, for example, Chanel N°5. For a long time, all around voyaged Indians utilized
the remote scents found at air terminal obligation free stores, regularly choosing those planned
by style houses or embraced by famous people, while others adhered to deodorants and body
sprays instead.

However, the circumstance is gradually changing, on account of a bunch of home-

developed perfumeries that are mixing India's best fixings with strategies from the experts of fine
aromas in France. Furthermore, behind this blooming development are local people energetic
about persuading individual residents that India can be known for its aromas, as well.
Perfume market is driven by different consumer practices and requests from contrasting
shopper sections. The Indian market is mind boggling and has created throughout the centuries.
The customers of scents are given a huge range of contributions from multinationals, from
renowned brands to free makers, with certain aromas created by conventional formulae spread
out in the old Hindu Ayurvedic writings. Because of the memorable wealth of normal sweet-

15
smelling assets present in the Indian geographic district, there is an excess of characteristic crude
materials from which aromas and fragrances are removed.
Every one of these items are sent out from India to the universal aroma places of the
world, and are additionally being utilized by a wide section of neighborhood sloppy makers.

The scents and attars are customarily made utilizing crude materials like herbs, blossoms,
barks of the tree and so on particularly nagar motha, sandal wood, jasmine and other
fundamental oils of aromas. While fragrances are made with liquor bases, the Indian attars are
made in sandalwood base. In cutting edge strategies even engineered synthetic compounds are
utilized what's more, the mixing assumes an indispensable job in making fragrances and attar.
The requirement of making attars in India incorporate insufficient gracefully of sandal wood and
the assembling procedure includes assortment and extraction, mixing and maturing of fragrance
taking a lot of time

The Indian Fragrance Industry, which is developing at an intensified yearly development

rate (CAGR) of 40 percent, is probably going to arrive at a figure of Rs 10000 crore. Almost 60
percent of the entire scent showcase is ruled by the men's classification which is exceptionally
divided and continues advancing with change in mentalities and way of life.

Indian offer is around 10 % of the globe, which is USD 2000 Million (Rs. 10000 Crores).
Indian population is anyway is 17.8% of the globe which shows potential development.
Additionally, very good quality scents in the male class are doing a lively business, because of
the developing inclination among urbane Indian guys to remain all around prepped, it said.

Some Indian FMCG organizations that use Perfumes and flavors in their items likewise
make their own aroma mixes, by buying singular fragrance synthetic concoctions and blending
them. The Flavor advertises is exceptionally divided. Flavor buyers may go from worldwide
organizations to large Indian modern houses to little scope mechanical units to neighborhood
restaurants to even singular homes. This is particularly evident if there should be an occurrence
of flavorful, bread kitchen and confectionary sections where fabricating process is
straightforward in contrast with different portions, which use progressively perplexing

16
assembling innovation. Indian FMCG is portrayed by extreme rivalry both by worldwide
organizations, composed and sloppy Indian assembling arrangements.

Plus, fragrances are a huge blessing choice and according to a gauge, over portion of
aroma deals represent blessing purchasing. Subsequently, organizations in the area are focusing
on bundling, and re-developing themselves, to bait shoppers and push deals.

India fragrance market is ruled by deodorants though perfumes are likewise getting pace
with the beginning of way of life changes. Deodorants execute the microbes that cause scent
when there is sweat. As it is an increasingly characteristic procedure to permit bodies to perspire,
it bodes well for customers to utilize deodorants. Aluminum underarm deodorants assume an
imperative job in keeping the body perfect and new. For the current age, it is difficult to envision
existence without deodorants. Various sorts of deodorants are accessible in the Indian market
today with various brands and this has given a plenty of decisions to shoppers. India
antiperspirant advertise is required to develop with a CAGR of over 15% over next five years out
of which the vaporized/shower type of antiperspirant is relied upon to proceed with its
predominance more than 2017-2022.

Expanding utilization of scents among the youthful population, expanding online retail
entrance, item push technique by key worldwide players, accessibility of aromas in various cost
extends, and expanding shopper spending on close to home and excellence care items are major
factors expected to drive the development of the worldwide fragrances showcase over the
conjecture time frame. The market for scents has a colossal potential in India with a ton of
players working in multi-brand outlets also, other than boutiques or independent stores.
Individuals are these days progressively slanted towards individual cleanliness and preparing and
fragrances are additionally gradually turning out to be vital pieces of individuals' closets. Every
one of these components presents a mind blowing chance of development for the business.
Scents are viewed as the key development items for the Indian market, with more youthful
buyers being the drivers in these regions. Rivalry is serious in the P and F industry regarding
quality, cost and administrations rendered to the end client.

17
 As indicated by "India Fragrance Market Outlook, 2022', the interest for aroma items has
been driven by rising extra cash, the significance of individual preparing, development of
working ladies in India and the hot, damp and tropical atmosphere states of India. Rising interest
for fragrances from working experts is one of the significant development drivers for aroma
industry as experts need to smell pleasant regularly from the second they go into the workplace
till their exit. The attitude that people feel sure by utilizing scent items has been one of the key
focuses for the organizations to investigate this portion and tap the market however much as
could be expected lifecycle.

Young entrepreneurial, scalable business model built on technology and innovation

wherein the founders develop a product or service for which they foresee demand through
disruption of existing or by creating entirely new markets.
Along with government initiatives, there is a definite movement in startup arena in India
due to penetration of IT and internet. Many startups are coming up in service sector
including education, legal, retail, insurance and health. With customers becoming aware of the
benefits and convenience, the popularity and viability of startups is no more a difficult
proposition for an entrepreneur.
A number of venture capitalists and angel investors are aggressive and gung-ho on
Indian startups as they see lot of potential with few expected to become unicorns (high
valued companies) bringing in good returns. On the contrary, there are examples of few startups
that failed and eventually closed their businesses due to various issues and challenges.
India being a large country with over 130Cr population, boasts of high demographic dividends
due to large number of young people. According to the latest UN report India with 356 million
10-24 year-olds have the largest concentration of youth population who are going to be the
future of the perfume industry.

18
 CHAPTER 2
HISTORICAL DATA
 Chapter 2

Historical data

2.1 PERFUMERY BACKGROUND

The word perfume is utilized today to portray scented blends and is gotten from the Latin
word, "per fumus," which means through smoke. The word Perfumery alludes to the specialty of
making scents. Fragrance was additionally refined by the Romans, the Persians and the Arabs. In
spite of the fact that scent and perfumery likewise existed in East Asia, quite a bit of its aromas
were incense based. The fundamental fixings and strategies for making fragrances are portrayed
by Pliny the Elder in his Naturalis Historia.
Perfume (French: parfum) is a blend of fragrant fundamental oils or smell mixes,
fixatives and solvents, used to give the human body, creatures, nourishment, items, and living-
spaces a pleasant scent. It is for the most part in fluid structure and used to give a lovely
fragrance to an individual's body. Antiquated writings and archeological unearthing’s show the
utilization of aromas in the absolute soonest human civic establishments. The present day
perfumery started in the late nineteenth century with the combination of fragrance mixes, for
example, vanillin or coumarin, which took into consideration the synthesis of scents with smell.

The word perfume gets from the Latin perfumare, signifying "to smoke through".
Perfumery, as the craft of making scents, started in antiquated Mesopotamia, Egypt, the Indus
Valley Civilization and perhaps Ancient China. It was additionally refined by the Romans and
the Arabs.

The world's first-recorded physicist is viewed as a lady named Tapputi, a scent producer
referenced in a cuneiform tablet from the second thousand years BC in Mesopotamia. She
refined flowers, oil, and calamus with different aromatics, at that point separated and set them
back in the still a few times. In India, aroma and perfumery existed in the Indus human
advancement (3300 BC – 1300 BC). A Byzantine alembic used to distil aroma. Old Egyptian

19
fragrance vessel fit as a fiddle of a monkey; 1550-1295 BC; faience; tallness: 6.5 cm, width: 3.3
cm, profundity: 3.8 cm; Metropolitan Museum of Art (New York City)

Fig 2.1 Ancient Egyptian perfume vase in shape of an amphoriskos 664–630 BC

(Source- Wikipedia)

20
 In 2003, archeologists revealed what are believed [by whom?] to be the world's most
established enduring aromas in Pyrgos, Cyprus. The aromas go back over 4,000 years. They
were found in an antiquated perfumery, a 300-square-meter (3,230 sq. ft.) factory lodging at any
rate 60 stills, blending bowls, pipes, and scent bottles. In antiquated occasions individuals
utilized herbs and flavors, for example, almond, coriander, myrtle, conifer sap, and bergamot,
just as flowers. In May 2018, an old aroma "Rodo" (Rose) was reproduced for the Greek
National Archeological Museum's commemoration show "Incalculable Aspects of Beauty",
permitting guests to move toward artifact through their olfaction receptors.

In the ninth century the Arab scientist Al-Kindi (Alkindus) composed the Book of the
Chemistry of Perfume and Distillations, which contained in excess of a hundred plans for
fragrant oils, ointments, sweet-smelling waters, and substitutes or impersonations of expensive
medications. The book likewise portrayed 107 strategies and plans for aroma making and
fragrance making hardware, for example, the alembic (which despite everything bears its Arabic
name.

Between the sixteenth and seventeenth hundreds of years, scents were utilized
fundamentally by the well off to cover personal stenches coming about because of rare washing.
In 1693, Italian stylist Giovanni Paolo Feminis made a fragrance water called Aqua Admirabilis,
today most popular as eau de cologne; his nephew Johann Maria Farina (Giovanni Maria Farina)
assumed control over the business in 1732. By the eighteenth century the Grasse area of France,
Sicily, and Calabria (in
Italy) were developing sweet-smelling plants to furnish the developing scent industry
with crude materials. Indeed, even today, Italy and France remain the focal point of European
scent structure and exchange.

21
 2.2 DILUTION CLASSES
Perfume types reflect the concentration of aromatic compounds in a solvent, which in
fine fragrance is typically ethanol or a mix of water and ethanol. Various sources differ
considerably in the definitions of perfume types. The intensity and longevity of a perfume is
based on the concentration, intensity, and longevity of the aromatic compounds, or perfume oils,
used. As the percentage of aromatic compounds increases, so does the intensity and longevity of
the scent. Specific terms are used to describe a fragrance's approximate concentration by the
percent of perfume oil in the volume of the final product. The most widespread terms are:

 Parfum or extrait, in English known as perfume extract, pure perfume, or simply

perfume: 15–40% aromatic compounds
 Esprit de parfum (ESDP): 15–30% aromatic compounds, a seldom used strength
concentration in between EDP and perfume;
 Eau de parfum (EDP) or parfum de toilette (PDT) (The strength usually sold as
"perfume": 10–20% aromatic compounds (typically ~15%); sometimes called "eau de perfume"
or "millésime"; parfum de toilette is a less common term, most popular in the 1980s, that is
generally analogous to eau de parfum;
 Eau de toilette (EDT): 5–15% aromatic compounds (typically ~10%); this is the staple
for most masculine perfumes.
 Eau de Cologne (EDC): often simply called cologne: 3–8% aromatic compounds
(typically ~5%); see below for more information on the confusing nature of the term
"cologne".

There is a lot of disarray over the expression "cologne", which has three implications.
The first and most seasoned definition alludes to a group of new, citrus-based aromas
refined utilizing extricates from citrus, botanical, and woody fixings. As far as anyone
knows these were first evolved in the mid eighteenth century in Cologne, Germany, thus

22
 the name. This sort of "old style cologne" portrays unisex arrangements "which are
fundamentally citrus mixes and don't have a scent parent.

In the twentieth century, the term took on a subsequent importance. Aroma organizations
started to offer lighter, less focused understandings of their current aromas, making their
items accessible to a more extensive scope of clients. Guerlain, for instance, offered an
Eau de Cologne form of its leader fragrance Shalimar. As opposed to traditional
colognes, this sort of present day cologne is a lighter, weakened, less thought translation
of a progressively focused item, commonly an unadulterated parfum. The cologne
rendition is frequently the lightest focus from a line of scent products.

At last, the expression "cologne" has entered the English language as a conventional,
overall term to indicate an aroma worn by a man, paying little mind to its focus. The real
item worn by a man may in fact be an eau de toilette; however he may even now say that
he "wears cologne". A comparable issue encompasses the expression "scent", which can
be utilized from a conventional perspective to allude to aromas promoted to ladies,
regardless of whether the scent is really an extrait.

Old style colognes originally showed up in Europe in the seventeenth century. The
primary scent marked a "parfum" separate with a high convergence of sweet-smelling
mixes was Guerlain's Jicky in 1889. Eau de Toilette showed up close by parfum when the
new century rolled over. The EDP fixation and phrasing is the latest. Parfum de toilette
and EDP started to show up during the 1970s and picked up notoriety during the 1980s.

Fragrance Notes
Fragrance is portrayed in a melodic allegory as having three arrangements of notes,
making the amicable aroma accord. The notes unfurl after some time, with the prompt
impression of the top note prompting the more profound center notes, and the base notes

23
continuously showing up as the last stage. These notes are made cautiously with information on
the dissipation procedure of the fragrance.

Top notes: Also called the head notes. The aromas that are seen promptly on use of a
fragrance. Top notes comprise of little, light atoms that dissipate rapidly. They structure an
individual's underlying impression of a scent and in this way are significant in the selling of a
fragrance. Instances of top notes incorporate mint, lavender and coriander.

Center notes: Also alluded to as heart notes. The aroma of a scent that develops only
preceding the dispersal of the top note. The center note mixes structure the "heart" or primary
body of a scent and act to veil the regularly horrendous beginning impression of base notes,
which become progressively lovely with time. Instances of center notes incorporate seawater,
sandalwood and jasmine.

Base notes: The aroma of a scent that shows up near the flight of the center notes. The
base and center notes together are the principle subject of an aroma. Base notes carry profundity
and strength to a scent. Mixes of this class of fragrances are ordinarily rich and "profound" and
are normally not seen until 30 minutes after application. Instances of base notes incorporate
tobacco, golden and musk.

The aromas in the top and center notes are affected by the base notes; on the other hand,
the aromas of the base notes will be modified by the kinds of scent materials utilized as center
notes. Makers who distribute aroma notes commonly do as such with the scent parts introduced
as an aroma pyramid, utilizing inventive and dynamic terms for the segments recorded.

24
 Fig2.2 Fragrance wheel perfume classification chart
(Source – Wikipedia)

AROMATIC SOURCES
Plant Source
Plants have for some time been utilized in perfumery as a wellspring of fundamental oils
and fragrance mixes. These aromatics are generally auxiliary metabolites delivered by plants as
insurance against herbivores, contaminations, just as to pull in pollinators. Plants are by a long
shot the biggest wellspring of fragrant mixes utilized in perfumery. The wellsprings of these
mixes might be gotten from different pieces of a plant. A plant can offer more than one
wellspring of aromatics, for example the elevated segments and seeds of coriander have
astoundingly various smells from one another. Orange leaves, blooms, and natural product get-
up-and-go are the particular wellsprings of petitgrain, neroli, and orange oils.

25
 Bark: Commonly utilized barks incorporate cinnamon and cascarilla. The fragrant oil in
sassafras root bark is additionally utilized either straightforwardly or cleaned for its fundamental
constituent, safrole, which is utilized in the amalgamation of other fragrant mixes.

Blossoms and blooms: Undoubtedly the biggest and most normal wellspring of
fragrance aromatics. Incorporates the blossoms of a few types of rose and jasmine, just as
osmanthus, plumeria, mimosa, tuberose, narcissus, scented geranium, cassie, ambrette just as the
blooms of citrus and ylang-ylang trees. In spite of the fact that not customarily thought of as a
bloom, the unopened blossom buds of the clove are likewise regularly utilized. Most orchid
blossoms are not monetarily used to deliver fundamental oils or absolutes, aside from on account
of vanilla, an orchid, which must be pollinated first and made into seed cases before use in
perfumery.

Natural products: Fresh organic products, for example, apples, strawberries, fruits
infrequently yield the normal smells when extricated; if such aroma notes are found in a
fragrance, they are bound to be of engineered beginning. Eminent special cases incorporate
blackcurrant leaf, litsea cubeba, vanilla, and juniper berry. The most regularly utilized natural
products yield their aromatics from the skin; they incorporate citrus, for example, oranges,
lemons, and limes. In spite of the fact that grapefruit skin is as yet utilized for aromatics,
increasingly more financially utilized grapefruit aromatics are misleadingly orchestrated since
the regular sweet-smelling contains sulfur and its debasement item is very disagreeable in smell.

Leaves and twigs: Commonly utilized for perfumery are lavender leaf, patchouli, sage,
violets, rosemary, and citrus leaves. Now and then leaves are esteemed for the "green" smell they
bring to aromas, instances of this incorporate roughage and tomato leaf.

Tars: Valued since artifact, pitches have been generally utilized in incense and
perfumery. Exceptionally fragrant and germicide pitches and sap containing scents have been

26
utilized by numerous societies as prescriptions for a huge assortment of sicknesses. Generally
utilized gums in perfumery incorporate labdanum, frankincense/olibanum, myrrh, resin of Peru,
benzoin. Pine and fir tars are an especially esteemed wellspring of terpenes utilized in the natural
combination of numerous other engineered or normally happening fragrant mixes. Some of what
is called golden and copal in perfumery today is the resinous emission of fossil conifers.

Roots, rhizomes and bulbs: Commonly utilized earthly segments in perfumery

incorporate iris rhizomes, vetiver roots, different rhizomes of the ginger family.

Seeds: Commonly utilized seeds incorporate tonka bean, carrot seed, coriander, caraway,
cocoa, nutmeg, mace, cardamom, and anise.

Woods: Highly significant in giving the base notes to a scent, wood oils and distillates
are fundamental in perfumery. Usually utilized woods incorporate sandalwood, rosewood,
agarwood, birch, cedar, juniper, and pine. These are utilized as macerations or dry-refined
(amended) structures.

Animal Source
Ambergris: Lumps of oxidized greasy intensifies, whose antecedents were discharged
and ousted by the sperm whale. Ambergris ought not be mistaken for yellow golden, which is
utilized in gems. Since the reaping of ambergris includes no mischief to its creature source, it
stays one of only a handful few animalic fragrancing operators around which little contention
presently exists.

Castoreum: Obtained from the smelly sacs of the North American beaver.

Civet: Also called civet musk, this is acquired from the foul sacs of the civets, creatures
in the family Viverridae, identified with the mongoose. World Animal Protection explored
African civets got for this purpose.

27
 Hyraceum: Commonly known as "Africa stone", is the frozen stool of the stone hyrax.

Honeycomb: From the honeycomb of the bumble bee. Both beeswax and nectar can be
dissolvable extricated to deliver a flat out. Beeswax is removed with ethanol and the ethanol
dissipated to deliver beeswax supreme.

Musk: Originally got from an organ (sac or case) situated between the private parts and
the umbilicus of the Himalayan male musk deer Moschus moschiferus, it has now chiefly been
supplanted by the utilization of manufactured musks here and there known as "white musk".

2.2 THE BEGINNING OF PERFUME

IN THE WORLD
Perfume is thousands of years old, with evidence of the first perfumes dating back to
Ancient Egypt, Mesopotamia and Cyprus. The English word "perfume" comes from the Latin
per fume, meaning "through smoke."
The Ancient Egyptians were the first to incorporate perfume into their culture, followed
by the ancient Chinese, Hindus, Israelites, Carthaginians, Arabs, Greeks, and Romans.

Egyptians were responsible for the starting point of perfume. They used aromas in
everything from strict functions to entombment arrangements and even day by day wear. The
rich elites of Egyptian culture, male and female the same would enhance themselves with smells
like lily to indicate their status. The Persians assumed control over the utilization of scent as an
indication of political status, yet it wasn't until the Greeks and Romans got familiar with it that it
started to be seen as a type of workmanship and delivered all at once and in predictable quality.
Archeologists as of late revealed an aroma manufacturing plant from 2,000 BC, situated in

28
Cyprus, which appeared to have represented considerable authority in the creation of fragrances
like coriander, shrub, myrtle, lavender, and rosemary. Aroma gradually spread all through the
globe, and for some time, aromas were saved principally for use in strict functions. Be that as it
may, in 1190, aroma started to be delivered financially in Paris, and from that point, it bloomed
into a huge industry again.

The world's originally recorded chemist is a lady named Tapputi, a perfume producer
whose presence was recorded on a 1200 BC Cuneiform tablet in Babylonian Mesopotamia. She
held a ground-breaking job in the Mesopotamian government and religion, as the regulator of the
Mesopotamian Royal Palace. She created strategies for fragrance extraction procedures that
would lay the reason for scent making. She recorded her systems and strategies and those were
passed on, with her most earth shattering strategy in utilizing solvents.

Fig 2.3 Tapputi, the world’s first perfume maker.

(Source- Wikipedia)

29
 The oldest perfume at any point discovered was found by archaeologists in Cyprus. They
were in excess of 4,000 years of age. A cuneiform tablet from Mesopotamia, going back in
excess of 3,000 years, recognizes a lady named Tapputi as the main recorded aroma creator. Yet,
scents could likewise be found in India at that point.

The soonest utilization of aroma bottles is Egyptian and dates to around 1000 BCE. The
Egyptians created glass and scent bottles were one of the primary regular uses for glass.

Persian and Arab scientists arranged the creation of aroma and its utilization spread all
through the universe of traditional vestige. The ascent of Christianity, be that as it may, saw a
decrease in the utilization of aroma for a significant part of the Dark Ages. It was the Muslim
world that kept the customs of scent alive during this time—and helped trigger its recovery with
the beginning of global exchange.

The sixteenth century saw the prominence of scent detonate in France, particularly
among the high societies and nobles. With assistance from "the scent court," the court of Louis
XV, everything got perfumed: Furniture, gloves, and other garments. The eighteenth century
innovation of eau de cologne helped the aroma business keep on developing.
Knowledge of something perfumery came to Europe as early as the 14th century due
partially to Arabic influences and knowledge. But it was the Hungarians who ultimately
introduced the first modern perfume. The first modern perfume, made of scented oils blended in
an alcohol solution, was made in 1370 at the command of Queen Elizabeth of Hungary and was
known throughout Europe as Hungary Water.
The art of perfumery prospered in Renaissance Italy, and in the 16th century, Italian
refinements were taken to France by Catherine de' Medici's personal perfumer, Rene le
Florentine. His laboratory was connected with her apartments by a secret passageway, so that no
formulas could be stolen en route.

30
 IN INDIA
The term 'perfume' gets from incense utilized in the Egyptian sanctuary (perfumare is to
load up with smoke). In any case, a fragrance might be characterized as any blend of charmingly
smelly substances, joined in a reasonable vehicle. India has been an old home to a rich scent
culture which has flourished and developed through hundreds of years. James McHugh brings up
the rich nearness of a fragrance culture in old India, regarded important in Sanskrit writings and
that flourished in the Sanskrit elegant conventions. Nonetheless, it was uprooted by 'Islamic' and
'Persian' aroma culture and practices (which were themselves arched by the Indian fragrance
culture) and eventually by European or Western scent culture.

In medieval India, especially Mughal India, scent innovation was an 'imaginative

amalgamation's of the previously overall and Islamic customs, realized by the procedure of
shared obtaining and enhancement. A long way from being in social or mechanical confinement,
perfumery culture in Mughal India was one of incredible investigations, borrowings and
amalgamation. Perfumery pulled in significant imperial consideration and venture; it was
available to changes and adjustments. It additionally remained as a declaration to the Mughal
commitment to India's logical custom bringing about a dynamic Indo-Islamic perfumery culture.
The perfumery culture delighted in a proceeding with imperativeness and productive mixing of
logical conventions well into the eighteenth century and more likely than not a short time later
too. For, in spite of the fact that from the mid sixteenth century the Mughal court was an
indispensable wellspring of support for science and innovation, the decay of its capacity in the
eighteenth century didn't totally dive the sciences into indefinite quality, regardless of whether
the creation of original copies delivered in Sanskrit, Persian and Arabic on logical and
specialized subjects gave indications of easing back down. A positive enthusiasm for science
(and, progressively, in accommodating the studies of East and West) thrived under illustrious
support in the provincial courts of India: there were various turns of events, from the galactic

31
observatories worked by Raja Jai Singh somewhere in the range of 1722 and 1739 at Jaipur,
Delhi, Mathura, Ujjain and Benares, to the mixed clinical interests and library of Indian and
Western clinical writings gathered by Serfoji, the last Maratha leader of Tanjore. New focuses of
learning jumped up; the ones in Hyderabad under its Nizams, or in Lucknow, under the Nawabs
of Awadh, gaining practical experience in Islamic science and Unani medication, while other
more established for the most part Hindu, seats of learning, for example, Benares and Nadia in
Bengal kept on prospering. In spite of the shrinking ceaselessly of Mughal power, Delhi stayed a
noteworthy locus for science, craftsmanship and writing, and, until the destructive occasions of
1857, delighted in a nightfall 'renaissance'. This, somewhat, clarifies the tirelessness of the
conventional fragrance innovation in India till date, which has not given route totally toward the
western powers and present-day showcase rivalry.
Perfume and perfumery likewise existed in Indus civilization, which existed from 3300
BC to 1300 BC. One of the most punctual refining of Ittar was referenced in the Hindu
Ayurvedic content Charaka Samhita and Sushruta Samhita. The fragrance references are a piece
of a bigger book called Brihat-Samhita composed by Varāhamihira, an Indian cosmologist,
mathematician, and celestial prophet living in the city of Ujjain. He was one of the 'nine gems' in
the court of the Maharaja of Malwa. The scent divide for the most part manages the production
of aromas to profit 'regal personages and prisoners of collections of mistresses'. The content is
composed as Sanskrit slokas with editorial by a tenth century Indian pundit Utpala.

As indicated by a 1975 report, paleontologist Dr. Paolo Rovesti found an earthenware

refining mechanical assembly in the Indus valley together with oil compartments made of a
similar material, cell based dated to 3000 BCE. The report additionally expresses that
earthenware vessels with stopped holes of woven materials were utilized so when fragrant plant
materials were secured with bubbling water the fumes impregnated the material, which was
along these lines wrung out to separate the oil.

32
 KANNAUJ PERFUME
Kannauj Perfume, otherwise called Kannauj Ittar, is a conventional Indian aroma
produce. The aroma creation is well known in Kannauj, in the Uttar Pradesh state, India.
It has been ensured under the Geographical sign (GI) of the Agreement on Trade-Related
Aspects of Intellectual Property Rights (TRIPS) understanding. It is recorded at thing 157 as
"Kannauj Perfume" of the GI Act 1999 of the Government of India with enlistment affirmed by
the Controller General of Patents Designs and Trademarks.
Kannauj scent has a long chronicled foundation and Kannauj had fragrance exchanging
for a huge number of years. Because of the key job of scent creation in Kannauj, the city is
known as "the fragrance capital of India" and "Kannauj is to India what Grasse is to France”. A
specialist in the area says, "Kannauj has been the perfumery town of the nation for a large
number of years".

Fig 2.4 The main heartland of the city of Kannauj(Source- Wikipedia)

The attar manufacture skill passed through generation to generation. They make from
blossoms and natural resources. Additionally musk, camphor, saffron and other fragrant
substances are utilized for creation. Bloom like white jasmine and plant like vetiver use for
33
summer assortments while soil utilizes for storm assortment, known as Mitti attar that gives the
aroma of wet earth. Henna attar and musk attar are winter varieties.
The refining innovation did for regular, oil-based, liquor free, fluid fragrance (especially
ittar) making at Kannauj is steam refining or hydro-refining. Privately called the deg and bhapka
framework (Kannauj) the assembling procedure is as per the following

The ittar is fabricated customarily through the deg and bhapka framework, which is a
steam refining process. The still is warmed from underneath by lighting a fire with the assistance
of wood or dairy animals manure. The temperature and speed of the refining is constrained by
directing the fire. The refining is overseen by profoundly talented/experienced laborers called
dighaa. He knows when the right amount of fume has consolidated inside the recipient by feeling
the round piece of the beneficiary submerged. The water in the tank is changed persistently to
keep the temperature from ascending excessively high. Dealing with the still is a profoundly
gifted activity, as the administrator must keep the bubbling in the still at a level that coordinates
the buildup in the beneficiary, so as to monitor the weight. At the point when the ideal amount of
fumes has consolidated, the dighaa rubs a wet fabric around the body of the still for a brief
respite in refining and the filled recipient is supplanted by another beneficiary. On the off chance
that fundamental, the second might be supplanted by a third beneficiary. The recipient is then
permitted to cool and may stay inactive for a couple of days relying upon the weight of work.
The blend of oil and water is then isolated either legitimately from the collector through a gap at
the base or pouring the entire blend in an open trough. After the oil and water have isolated into
two layers, the water is expelled from an opening in the base, and the equivalent is cohobated.
The base material (sandalwood oil) stays in the recipient. After the ideal convergence of the attar
has been reached, the equivalent is filled cowhide bottles for sedimentation and evacuation of
dampness. At times fluid paraffin is utilized for the production of the less expensive attars. The
mouth of the collector is fixed by folding coarse fabric over the bamboo channel and it is then
pushed inside the condenser. The collector may contain as much as 5-10 kilos of base material
and is kept in a little water tank.

34
 Fig 2.5 The current deg and bhapka method practiced in Kannauj
(Source- Wikipedia)

The common scent is liberated from liquor and concoction, with the exception of certain
creations. Fragrant attar from rose has more smell while attar that produced using sandalwood oil
has enduring smell. Typically for creation a little container of fragrance, it needs around 15 days.
Kannauj fragrance has neighborhood and global markets and around 20 organizations fare to
outside nations, for example, UK, USA, Australia, UAE, Saudi Arabia, Iran, Iraq, Singapore,
France, Oman, Qatar, etc.

Preserving Perfume
Aroma mixes in fragrances will debase or separate if inappropriately put away within the
sight of warmth, light, oxygen, and unessential natural materials. Appropriate safeguarding of
aromas includes getting them far from wellsprings of warmth and putting away them where they
won't be presented to light. An opened jug will keep its fragrance flawless for quite a while, as
long as it is well stored. However, the nearness of oxygen in the head space of the jug and
natural components will over the long haul change the smell of the scent.

35
 Scents are best safeguarded when kept in light-close aluminum bottles or in their unique
bundling when not being used, and refrigerated to moderately low temperatures: between 3–7 °C
(37–45 °F). In spite of the fact that it is hard to totally expel oxygen from the headspace of a put
away jar of scent, deciding on shower distributors rather than rollers and "open" jugs will limit
oxygen presentation. Splashes likewise have the benefit of segregating aroma inside a jug and
keeping it from blending in with residue, skin, and debris, which would debase and adjust the
nature of a scent.

There exist a few documents and exhibition halls dedicated to the conservation of
recorded scents, in particular the Osmothèque, which stocks more than 3,000 fragrances from the
previous two centuries in their unique plans. All fragrances in their assortment are protected in
non-actinic glass flagons flushed with argon gas, put away in thermally protected compartments
kept up at 12 °C (53.6 °F) in an enormous vault.

2.3 INDIA AND PERFUME MARKET

India has consistently been a place that is known for olfactory extravagance, where
fragrance based treatment; incense and ittar have existed since old occasions, where basic oil
aroma were a piece of the old illustrious legend. The earliest aromas utilized were the
recuperating aromas presented through Ayurveda, which suggested the utilization of sweet-
smelling herbs and fragrant plants for mental prosperity, magnificence, treatment of afflictions,
cleanliness and age-control which are notable even today.
The traditional scent industry in India has seen immense changes in the ongoing years
with the presentation of innovation and more extensive utilization. The Indian scent industry is
one of the biggest as far as creation, utilization and at present, the aroma advertise is set to
develop and offer countless open doors for new contestants to develop right now.
India being the main nation on the planet with rich decent variety in verdure with its 15
Geo-climatic zone. India can deliver natural fragrant crude materials which have extraordinary

36
interest on the planet. Considering its nearby linkages with grass-root financial aspects, it can
reboot Indian economy from ground level.

Worldwide scent and flavor industry is worth $24.10 Billion and India contributes around
$500 million. Be that as it may, development rate in India is roughly 11% over the most recent
couple of years however is anticipated to develop exponentially in the up and coming a long time
because of rising individual consideration, brand mindfulness, expanding extra cash, developing
interest in white collar class individuals and reasonable cost of aroma as mass aromas and
antiperspirants.

Looking into the success of Fragrance & Flavor Development Centre, Kannauj & its self-
sustainability for last six year and increasing demand for its need across the country and
potential, there exists need for opening such kind of center in all states. Different geographical
locations need different approach for different products and technology to work with.

Potential for India:

Around the world, roughly 300 significant common fragrant crude materials are being
used. Out of these, lone half are developed and rest are found in wild home (for example
Nagrarmotha, Kewra and so forth). Out of the developed crude materials, 110 developed normal
fragrant crude material spread 95% of the current worldwide utilization is in aroma and flavor.
Out of these, there are 31 for which India is notable all around and there are about 21 which are
developed yet not to a level for worldwide criticalness. India has had worldwide effect with
fundamental oils of Menthol mint, Sandalwood, Jasmine, Tuberose and flavors.

Menthol Mint was presented in India in 1954 and afterward various variations were
created by CSIR-CIMAP and augmentation work was finished by various associations including
FFDC Kannauj. In 2007 FFDC, Kannauj caused a bind to up with MCX for dissecting the mint
oil for forward exchanging and from that point, the sharp ascent in Mint oil occurred because of
better advantage to ranchers to the degree of 20-30% and henceforth more creation making India
37
a worldwide pioneer with almost 90% of complete worldwide creation with about 40,000 tons of
oil. Uttar Pradesh itself gives 80% of absolute produce of India while Bihar gives 13% and
Madhya Pradesh gives 7%.
Aroma and Flavor Development Center, Kannauj (FFDC) has been set up in 1991 by
Govt. of India with the help of UNDP/UNIDO and Govt. of U.P. UNDP/UNIDO has given
advancements, Govt. of U.P. has given land, building and foundation, while Govt. of India is
contributing for the repetitive, non-repeating and indigenous contraption and types of gear. The
idea driving setting up of the inside is to go about as interface/connect between explore and
businesses of fundamental oils, aroma and flavor.

2.4 CHALLENGES OF PERFUME IN GLOBAL MARKET

1. Too many brands offer the same uninspiring product and experience
"The quantity of scent dispatches is ludicrous: 2,095 new aromas propelled all inclusive
in 2016, contrasted with 581 of every 2003." ImgoenMatthews.com. Brands need to concentrate
on quality over amount – construct the believability of existing reaches, center around
connecting with stories and eventually drive second buys.

Scent - A case of aroma offers

"Clients are in some cases progressively slanted to buy an aroma since it's the most recent
one or accompanies advancement and less in light of the fact that they really like the smell. This
doesn't create the terrifically significant second buy." Fabien Callens, Marketing Director,
Kenneth Green Associates Source.

38
 2. Consumers aren’t engaging with fragrance like they have in the past
Retailers need to keep up in a universe of online life and sharing. How is aroma shared?
What's going on and energizing to discuss? Making critical encounters and better approaches for
interfacing with the client is basic. I especially like Diptique's Soho spring up store that
commended 50 years in aroma making. It welcomed visitors to have one of their drawings
converted into a customized aroma just as take a selfie 'postcard' to send to a companion. The
companion could then get a free example on entering the store with the postcard – pleasant.
Scent - Diptique's spring up gave heaps of web based life amicable minutes.
3. No one’s impressed by celebrity fragrances anymore
The oddity has worn off and individuals are getting increasingly pessimistic of a similar
item, extraordinary big name. "We saw it in 2008 just after the accident, and it's currently a given
in.The US business that the big name showcase has fell. Rihanna and a couple of others have
aromas that are progressing nicely; however it's in no way like previously." Chandler Burr, the
previous fragrance pundit for the New York Times and writer of a few books regarding the
matter, source. Building a valid story around the scent itself without depending on a well-known
name to sell it can change a client's discernment.

4. The retail experience is dull

For an item that is so brimming with excitement, secret and pleasure, the scent retail
experience is to a great extent disappointing – lines and lines of comparative looking and
smelling aromas that are just separated by name. How is somebody expected to slice through
that, not to mention be propelled? Brands ought to reevaluate customary obsolete strategies for
promoting and permitting retailers the opportunity to innovatively sell their item.
Sephora has started to handle this, by moving concentrate away from the divider bayous
of jugs and making a play zone called Insta Scent, and Bloom in Covent Garden has promoted by
smell type. Blossom's attention is on the client venture – inspecting, investing energy and finding
their actual aroma coordinate. Another genuine model is the specialty yet canny store, Floral
Street. It sells a little scope of possess name aromas that are promoted by way of life and
character.

39
 5. Advertising aesthetics and formats are outdated
Regardless of how wonderful and attractive the model is, or how lovely those blossoms
are she's skipping around with, when you see a lot of this kind of symbolism, it loses its intrigue
and charm. That boat cruised quite a while in the past. Is there a chance to burrow somewhat
more profound? Start to expose what's underneath, to recount to your item story and give the
purchaser a story to become tied up with. In the event that somebody comprehends the
provenance, it gives the item quite a lot more worth and profundity.

6. There's an excessive amount of depending on intensely limited items to move

stock
There's an almost negligible difference between limiting an aroma so much that it loses
all value, and evaluating it way out of your objective client's span. "Accomplishes limiting work?
Worth deals development for the all-out aroma showcase has found the middle value of just
+1.5% every year in the course of recent years. Limiting isn't the appropriate response."

2.5 TRENDS OF PREFUMERY IN GLOBAL MARKET

In the most recent year, there has been an ascent of independence, implying that nobody
needs to possess a scent like another person. It is regular among the beautifiers business to offer
customized items, in any case, these days, we can see increasingly more aroma marks that are
beginning to sell customized fragrance.
Then again, there has been a finished obscuring of limits with regards to sex. The present
"unisex" is about subjective nature of sex divisions in scent. Notes ought not to be gendered in
any case, neither as manly nor ladylike. For example, when taking a gander at the most recent
decade's scents, it is conceivable to discover numerous male aromas which incorporate rose or
other flower notes. Additionally, the warm and flighty sandalwood, which was verifiably
connected with male aromas, presently impacts the female perfumery.
40
 The world perfumery patterns for the year 2020 show an association with nature, the
quest for legitimacy and the investigation of tangible joys. Concerning aromas for one year from
now, the pattern will be woody fragrances; the Fougére family will come back with certain
contacts of innovation proposed by the dry golden from the greenery. In any case, the hero will
be the white blossom ladylike, sensual, incredible and enrapturing.
While scents themselves are getting more globalized, it is increasingly more typical to
discover oriental notes in occidental perfumery. For instance, oud, an ingredient almost unknown
in the west a few years ago, now marks the lasts fashion trends in perfumery.

The trend that combines the natural, as well as sustainable in cosmetics and perfumery is
consolidated. Ecological, chemical-free ingredients and sustainable formulations are the basis on
which cosmetic innovation is currently based. In fact, fragrance houses are developing very
strong global programs in sustainability. This approach is not only a way to include natural
ingredients among their perfumes; it also reduces other factors that can harm the environment –
packaging- and health – anti-allergens synthetics ingredients.

This is only some predictions that will hold for next year, however, as the year
progresses, we will see these trends more developed and some others that will appear.

2.6 CHALLENGE TO INDIA AND STEPS NEEDED FOR SUCCESS

Even today, some Indian companies extract essential oils in India, in an unorganized
manner. This industry can grow only by following scientific means and methods of propagation
and extraction. Systematic exploitation of aromatic plants by Indian Industry can bring a great
economic advantage to our country as; we bring more plants that are aromatic under use. Setting
up of small-scale essential oil extraction and processing units can provide ample employment
opportunities for the rural youths. Once these units come into operation, local farmers can be
motivated easily for large-scale cultivation of selected aromatic crops according to the prevalent
agro-climatic conditions. During the initial stages raw material requirement of these industries

41
can be met either through collection from wild habitats or through intercropping cultivation in
agricultural farms. Either way, it will provide employment to millions of youths from farming
communities.
International companies succeed because of strong R & D backup, marketing network
and financial strength. The current position of India in this trade is not at its potential. We need
look into the following aspects with all seriousness for proper development of the Indian
essential oil, fragrance & flavor industry to happen.
• Making substantial investment in Research & Development activities in consultation
with Indian industry.

• Create well-trained human resource at every level right from worker at laboratory, field,
production, sales, & marketing.
• Promote & develop quality products with safety & efficacy.

• Tap on the non-utilized and underutilized natural resources by promoting farmers to

cultivate aromatic crops with proper market interventions.

• Carry out the standardization of number of synthetic & natural aroma products.

• Creating a platform where farmer, producer, trader, user, exporter, R&D organization,
educational organizations, & government can meet and share their views.

• Setting up of technology diffusion centers in different parts of country according to area

specific needs.

• Creating a special task force to gather detail information about Indian natural aromatic
plants and take steps to use them for industry development.

42
 • Setting up a specific university to train students to train Indian students to create exotic
fragrances and flavors for the industry, and establish a talent pool for the Indian and the global
market.
• Making use of Bio and information technology

• Harmonize Indian industry with global safety and regulatory norms.

• Harmonize all chemical classification and communication elements, including labels

and safety data sheets, with global requirements to ensure information on physical hazards and
toxicity from chemicals is available to enhance protection of human health and the environment
during handling, transport, and use at the national, regional, and global level, a very important
factor for trade facilitation.

2.7 The Future of Fragrance in India

The future of fragrance industry in India depends on the consumer. The consumers are
the most important people/person in the fragrance supply chain. There are six key pillars that
encapsulate the new consumer. They are simplicity, purpose, well-being, experience,
empowerment and differentiation.
 Simplicity. Consumers are getting back to the basics. They are looking for
products with less marketing, a clear focus on the scent and a minimalistic approach.
 Purpose. In addition to getting back to the basics, consumers are looking for
products that support a cause or integrate ethical values and promote inclusivity of all genders,
cultures and religions.
 Well-being. Just as people are concerned about their wellbeing and buying beauty
products to address it, they are now looking at fragrance in the same light. Consumers are
focusing on needs and wellness claims.
 Experience. Online brands and alternative distribution models are influencing the
demand of fragrance. Additionally, consumers are looking for novelty and something
memorable.

43
  Empowerment. Consumers also feel more empowered to make their fragrance
decision and are moving away from past trends, including celebrity fragrances. Digital platforms
also help in the discovery of new scents.
 Differentiation. Similar to finding a novel product, consumers are interested in
bespoke services and brands with a story.

There are two big shifts that are changing the perfume consumer and the world at large:
technology and the impact of global warming.
The world is going at a digital speed of light. This is a global phenomenon. There are
more people online in India than there are people in the U.S… The second big shift, and
arguably the more immediate problem, is the issue and impact of global warming. Not only does
this impact the F&F industry greatly, but our world itself.

Perfume has been adaptive to the various political changeovers, socio-economic

developments and consequent technological innovations. The diverse perfume-making formulas
and techniques that were researched, formulated and written down have survived till date in
treatise forms or in forms of practice, comprise a huge corpus of knowledge. However, with the
influence of westernization over Indian society, the advent of supreme mechanization of
technology and the rise of consumerism, the current economic scenario has dramatically altered
the perfume industry, its market and particularly the technology in India. Complex machines,
artificial laboratory-made chemicals and huge engine-run distillation plants have taken over the
current perfume technology. But as tradition always survives in some form or the other, the old
traditional perfume technology has also survived in India in the form of a surviving ittar industry
with the city of Kannauj as its epicenter.

44
CHAPTER 3

COMPANY PROFILE
 CHAPTER 3
COMPANY PROFILE

3.1 KHUSHBU PERFUMES

How does one capture the scent of India? Is it just the heady note of jasmine or rose, or
could it be a whiff of masala tea and the spicy aroma of black pepper? What does a city smell
like, and how different is the smell of Delhi from Goa? How does one capture memories in a
bottle? These are the preoccupations of a new breed of Indian perfumers, who are breaking
stereotypes and trying to raise the bar for Indian fragrances. They are in uncharted territory.

On the one hand, India has been a land of olfactory indulgence — this is where ittar,
incense and aromatherapy have existed for thousands of years, and personal perfumes are part of
ancient royal lore. On the other hand, there is virtually no modern Indian perfume that could
stand on its own against the sophisticated, marketing-driven, branded perfume industry.

A few years ago, some Indians decided to do something about it.

One of them is Aseem Sheikh. Brought up in a family that has been making perfume for a very
long time, he had picked up the intricacies of the industry while growing up. Aseem has been in
the perfume industry for a very long time. Since he comes from a family background that has
been in the perfume industry since his forefather’s time.
Khushbu perfume is a family business which was established in 1990 and in the same
year they established their profession as attarwalas. The Attarwalas are a landless community,
and are still involved in the manufacture of attar, the traditional perfume of North India. In the
year 2000 their first outlet was established in F.C.Road and in the year 2015 they established
their startup or retail outlet in Aundh. Currently it is run by Aseem Sheikh and he is the 3 rd
generation who is in to the perfume business. He completed his Bachelors in International
business from Pune University and Masters in Foreign trade also from Pune University. The
initial investment of the startup was Rs. 5lakhs and they achieved their breakeven point within 5
months of their initial business.
45
 Their main office is located in Mumbai; where the actual process of making perfume
takes place. They mainly manufacture perfumes, attars, and niche and designer perfumes. They
deal in wide varieties of perfumes. But mostly the make designer perfumes, they designers
perfumes in the markets are expensive and not affordable by many people. The Khushbu
perfume make clones of the same perfume without changing the content or fragrance and sells
them at an affordable rate. So the normal people can also experience the fragrance and feel of the
luxury perfumes. They produce alternative designer inspired perfume spray which has luxury
fragrances, minus the luxury prices.
Their carefully developed fragrances are based on some of the world’s most iconic
perfumes and aftershaves. 90% of their ingredients are the same as the big-name brands; in fact,
the only thing that’s not near-identical is the cost. With prices slashed to more affordable levels,
they make your favorite fragrance, without restriction. Their fragrances smell just like the
originals long lasting perfume and are of super quality.

Fig 3.1 Khushbu Perfume, their main outlet in Aundh

46
 They deal in wide variety of niche and designer perfumes and also in attar and natural
oils. Their product price ranges from a minimum of Rs.300 and which can go up to lakhs. The
also deal in natural oud. Oud is natural oil which is extracted from tropical Agar tree. The price
of an oud is Rs.40000/kg that is Rs. 4000 for a 100 ml bottle. Khushbu perfume also produces
bespoke scents based on the customer’s requirements; the price starts from Rs.50000 and goes up
to Lakhs. The perfume is made by many rounds of trial and testing. The process of making
bespoke perfume is lengthy and takes anywhere from 12 to 14 weeks, and the price is based on
theingredientsused.

They mainly focus on designer or luxury perfumes and they prepare clones of various
brands. And make it affordable to people at a reasonable price. They also focus on niche perfume
which is made according to the taste and preference of the consumer and niche perfumes are not
produced in mass. They follow a very strict quality check and quality management. Their
products are all quality checked and ISO certified.

Fig 3.2 Set of luxury perfume which is sold by Khushbu Perfumes

47
 Fig 3.3 Set of natural oud which are prepared and stored in an air tight container to maintain
the freshness and fragrance.

Khushbu perfume doesn’t have any special way of advertising their product. They mostly
follow the traditional type of advertisement that is mass publicity and mouth to mouth
communication. Other than the traditional way they also have their presence in social media
platform like Facebook, Whatsapp and Instagram. Advertising through social media helps in
connecting large numbers of customers and also keeping the current customers up to date about
their various new products in the market.

48
Fig 3.4 Collection of natural and essential oil sold by Khushbu Perfumes

Fig 3.5 A 100ml bottle of Kashmiri Oud which cost around Rs.30, 000

49
 Mr. Aseem sheikh said that as the business grows they also face many threats and
competition both in the domestic and international market. He said that he wants to expand his
market internationally but various government rules and regulations prevent them from moving
forward. The main competitors for his are Ajmal perfumes and Swiss Arabia which have their
markets both in the domestic and international. He also said that the main drawback of home
delivery of perfume is that people are not able to experience the true smell of perfumes.

Fig 3.6 Mr. Aseem Sheikh the founder and owner of Khushbu Perfumes

50
Future plans of Khushbu Perfume

1. Introducing a new brand into the market called Al Areez Fragrance

2. Planning of expand their markets in the other parts of India

3. Planning of expanding their market in the internationally

4. Planning of starting e-commerce and home delivery of products

5. Exporting of products in the international market

6. Introduction of eco-friendly and alcohol free products

7. Introduction of an online app

8. Providing job opportunities for woman in rural area for the manufacturing of
incense sticks

9. Franchising of their products

10. Setting up of more stores in Pune

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 Fig 3.7 This is the luxury perfume Tom Ford Tobacco Vanille perfume which is available in the market for a
price of Rs.17000 for a 50 ml bottle

Fig 3.8 The same Tom Ford Tobacco Vanille perfume made by Khushbu Perfume with 90% of the same
ingridents and the same fragrance. But the retail price of this is just Rs.8000, half the price of the original. They
are mostly prefered by men because they contain a very strong smell and are mostly used in summer

52
Fig 3.9 Collection of designer perfumes made by Khushbu Perfume which are sold at an affordable
price with 90% of the same ingridents and the same lasting fragrance.

53
Fig 3.10 The respondent along with the owner of Khushbu Perfumes Mr. Aseem Sheik at their shop
in Aundh, Pune

54
 CHAPTER 4
RESEARCH METHODLOGY
 CHAPTER 4
RESEARCH METHODLOGY

4.1 MEANING OF RESEARCH

Research in like manner speech alludes to a quest for data. Once can likewise
characterize research a logical and orderly quest for appropriate data on a particular subject.
Truth be told, research is an specialty of logical examination. Research is a scholastic action and
thusly the term ought to be utilized from a specialized perspective. As indicated by Clifford
Woody research includes characterizing and rethinking issues, planning speculation or
recommended arrangements; gathering, sorting out and assessing data; making conclusions and
arriving at resolutions; and finally cautiously testing the ends to decide if they fit the figuring
theory. Research is, in this manner, a unique commitment to the current load of data making for
its progression. It is the pursuit of truth with the assistance of study, perception, examination
furthermore, test. To put it plainly, the quest for data through target and precise technique for
discovering answer for an issue is inquire about. Thus the term 'research' alludes to the orderly
method. Consisting of articulating the issue, defining a speculation, gathering the realities or
data, breaking down the realities and arriving at specific resolutions either as solutions(s)
towards the concerned issue or in specific speculations for some hypothetical definition.

4.2 MEANING OF RESEARCH METHODOLOGY

Research methodology is a precise method to take care of an issue. It is a study of
concentrating how research is to be completed. Basically, the techniques by which analysts
approach their work of portraying, clarifying and foreseeing wonders are called inquire about
methodology. It is likewise characterized as the investigation of strategies by which data is
picked up. Its point is to give the work plan of research. Research methodology can be
quantitative or qualitative.
In a perfect world, complete research should attempt to join both qualitative and
quantitative strategies yet this isn't constantly conceivable, typically because of time and money
related limitations.
55
 A decent structure ought to guarantee the exploration is legitimate, for example it
unmistakably tests the theory and not unessential factors, and that the examination is dependable,
for example it yields steady outcomes each time. In basic terms inquire about technique is
utilized to give an obvious thought on what the scientist is completing their exploration. So as to
design in a correct purpose of time and to propel the examination work, inquire about procedure
makes the correct stage to the analyst to mapping out the exploration work in pertinence to make
strong arrangements. Progressively over research approach controls the specialist to include and
to be dynamic in their specific field of enquiry. More often than not, the point of the exploration
and the examination theme won't be same at unequaled it shifts from its destinations and stream
of the exploration; however by receiving an appropriate strategy this can be accomplished.
Research methodology is the beginning whereas research methods are the end of any
scientific or non-scientific research.

4.3 TYPES OF RESEARCH

 Descriptive vs. Analytical
Descriptive research includes surveys and fact-finding enquiries of different kinds. The
major purpose of descriptive research is description of the state of affairs as it exists at present.
In analytical research, on the other hand, the researcher has to use facts or data already available,
and analyze these to make a critical evaluation of the material.
 Applied vs. Fundamental:
Applied research aims at finding a solution for an immediate problem facing a society or
an industrial/business organization, whereas fundamental research is mainly concerned with
generalizations and with the formulation of a theory.

 Quantitative vs. Qualitative

Quantitative research is based on the measurement of quantity or amount. It is applicable
to phenomena that can be expressed in terms of quantity. Qualitative research, on the other hand,
is concerned with qualitative phenomenon, i.e. Phenomena relating to or involving quality or

56
kind. Qualitative research is especially important in the behavioral sciences where the aim is to
discover the underlying motives of human behavior.

 Conceptual vs. Empirical

Conceptual research is that related to some abstract idea(s) or theory. It is generally used
by philosophers and thinkers to develop new concepts or to reinterpret existing ones. On the
other hand, empirical research relies on experience or observation alone, often without due
regard for system and theory. It is data-based research, coming up with conclusions which are
capable of being verified by observation or experiment.

4.4 PURPOSE OF RESEARCH

There are three purposes of research:

Exploratory: As the name suggests, exploratory research is conducted to explore a group

of questions. The answers and analytics may not offer a final conclusion to the perceived
problem.
It is conducted to handle new problem areas which haven’t been explored before. This
exploratory process lays the foundation for more conclusive research and data collection.

Descriptive: Descriptive research focuses on expanding knowledge on current issues

through a process of data collection. Descriptive studies are used to describe the behavior of a
sample population. In a descriptive study, only one variable is required to conduct the study. The
three main purposes of descriptive research are describing, explaining, and validating the
findings. For example, a study conducted to know if top-level management leaders in the 21st
century possess the moral right to receive a huge sum of money from the company profit.

57
 Explanatory: Explanatory research or causal research is conducted to understand the
impact of certain changes in existing standard procedures. Conducting experiments is the most
popular form of casual research. For example, a study conducted to understand the effect of
rebranding on customer loyalty.

Exploratory Descriptive Explanatory

Research Research Research

Research Highly
Unstructured Structured
approach used structured

Research Asking research Asking By using

conducted through questions research questions research hypotheses.

When is it Early stages of Later stages of Later stages of

conducted? decision making decision making decision making
Table no. 2

4.5 OBJECTIVES OF RESEARCH

By and large, research objective depict what we hope to accomplish by an undertaking.
Research objective are generally communicated in lay terms and are guided as a lot to the client
with regards to the researcher. Research objective might be connected with a theory or utilized as
a mission statement in an examination that doesn't have a speculation. Regardless of whether the
idea of the exploration has not been obvious to the layman from the speculations, s/he ought to
have the option to comprehend the examination from the goals. An announcement of research
objective can serve to direct the exercises of research. Research objectives describe concisely
what the research is trying to achieve. They summarize the accomplishments a researcher wishes
to achieve through the project and provides direction to the study. A research objective must be
achievable, i.e., it must be framed keeping in mind the available time, infrastructure required for
research, and other resources.
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 4.6 OBJECTIVE OF THE STUDY
1. To evaluate the challenges of a perfume startup
2. To find the initial investment of perfume startup
3. Examining the present market scenario of perfume startup
4. To examine all the factors that affect a startup
5. To suggest ways to improve the perfume startup

4.7 NEED OF THE STUDY

1. To identify the important dimensions in perfume buying behavior of consumers.
2. Understanding the role of perfume sector in the Indian economy

4.8 LIMITATION OF THE STUDY

1. The availability of time and limited knowledge of researcher is also to be considered.
2. The study covers only the area of Pune City.
3. Researcher had only used questionnaire as a primary source of data.
4. The amount of investment in research

4.9 HYPOTHESIS
A hypothesis is a particular explanation of forecast. It depicts in concrete (as opposed to
hypothetical) terms what you expect will occur in your investigation. Not all examinations have
hypothesis. Here and there an investigation is intended to be exploratory (see inductive research).
There is no proper theory, and maybe the motivation behind the investigation is to investigate
some region all the more altogether so as to build up some particular hypothesis or expectation
that can be tried in future research. A solitary report may have one or many hypothesis.
Sometimes we use a notation like HA or H1 to represent the alternative hypothesis or your
prediction, and HO or H0 to represent the null case.

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 POPULATION
In look into phrasing the Population can be clarify as a complete gathering of people,
organizations, protests, etc. with have typical qualities that are the enthusiasm of an analyst. The
regular qualities of the gatherings recognize them from other individual, organizations,
questions, etc. The term universe is additionally utilized as equivalent words to population.
At times population can be tallied effectively, which is called limited population.
Population of clinical understudies is a case of limited population. The boundless or obscure
number of population can be called as infinite population.
Any worth which is distinguished or estimated from the qualities of whole population can
be called as Parameter. The way toward directing an overview to gather data from the whole
population is known as census.

SAMPLE AND SAMPLING

A sample can be characterized as the little bit of a population chosen for a particular
study. The sample ought to obviously speak to the qualities of expected gathering. The way
toward leading an overview to gather data from a sample is called sample survey. The worth
which is recognized or estimated from the attributes of the sample can be named as statistic. The
Process of selection or the drawing of the precise portrayal of a unit, gathering or test
from a population of intrigue is called sampling. Sampling can be done through various sampling
techniques in accordance with the nature of the sample as well as the subject matter of the study.

SAMPLE SIZE
As name demonstrates sample size is the total number of sample chosen for the study.
For instance, it is the quantity of educators, understudies or partners from an analyst planned to
gather data in regards to his examination questions. There is no idea about the minimum or
maximum number of sample; rather the sample size ought to be ideal. Normally the sample size
is signified by the letter (n).

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 SAMPLING ERROR
Sampling error is the deviation of the selected sample from the true characteristics, traits,
behaviors, qualities or figures of the entire population. The variation between the means of
sample groups as well as population mean is called sampling error.

SAMPLING TECHNIQUE
Sampling techniques can be divided into two types:
1. Probability or random sampling
2. Non- probability or non- random sampling
Non-Random sampling techniques (Non- Probability Sampling)
Non-random sampling is any examining technique where a few components of the
population get no opportunity of choice (these are now and again alluded to as 'out of
inclusion'/'under secured'), or where the likelihood of determination can't be precisely decided. It
includes the determination of components dependent on suspicions in regards to the number of
inhabitants in intrigue, which shapes the criteria for choice. Consequently, on the grounds that
the choice of components is nonrandom, non-sampling technique doesn’t permit the estimation
of probability mistakes. Non-likelihood examining is a non-arbitrary and abstract strategy for
probability where the determination of the population components including the example relies
upon the individual judgment or the circumspection of the sampler.
Random sampling (Non-Probability Sampling)
Likelihood probability is otherwise called random sampling or chance sampling. Right
now, taken in such a way, that every single unit of the population has an equivalent and positive
possibility of being chosen. Right now, is guaranteed that the example would really speak to the
general population. Likelihood probability can be accomplished by irregular determination of the
example among all the units of the populace.
Random sampling techniques are the strategies which guarantee the likelihood of every
component in the population for being chosen as test unit for the investigation. Here the example
units are not chosen at the watchfulness of the scientist rather it follows certain systems which

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guarantee the likelihood of every unit in the number of inhabitants in 6 being remembered for the
example. Henceforth these methods are additionally called as Probability sampling techniques.

4.10 COLLECTION OF DATA

Data collection is the process of gathering and measuring social occasion and estimating
data on factors of enthusiasm, in a built up precise style that empowers one to respond to
expressed research questions, test speculations, and assess results. The data assortment segment
of research is normal to all fields of study including physical and sociologies, humanities,
business, and so forth. While techniques differ by discipline, the accentuation on guaranteeing
exact and fair assortment continues as before
Despite the field of study or inclination for characterizing data (quantitative, qualitative),
precise data assortment is basic to keeping up the trustworthiness of research. Both the
determination of suitable data assortment instruments (existing, altered, or recently created) and
unmistakably portrayed directions for their right use lessen the probability of blunders
happening.
TYPES OF DATA
Data might be qualitative or quantitative. When you know the distinction between them,
you can realize how to utilize them.
Qualitative Data: They speak to certain qualities or properties. They delineate depictions
that might be watched yet can't be processed or determined. For instance, data on traits, for
example, insight, trustworthiness, intelligence, tidiness, and innovativeness gathered utilizing the
understudies of your group an example would be named qualitative. They are more exploratory
than decisive in nature.
Quantitative Data: These can be estimated and not just watched. They can be
numerically spoken to and estimations can be performed on them. For instance, data on the
quantity of understudies playing various games from your group gives a gauge of what number
of the all-out understudies plays which sport. This data is numerical and can be delegated
quantitative.

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 4.11 METHODS OF DATA COLLECTION

Primary data is data that is collected by a researcher from first-hand sources, using
methods like surveys, interviews, or experiments. It is collected with the research project in
mind, directly from primary sources

SOURCES OF PRIMARY DATA

Observation – It is the most commonly used method of data collection. Observation can
be conducted without the knowledge and awareness of the participant’s even, if the participants
are aware or not aware of the observation the observer should understand the ethics of the
privacy of the participants.
Interviews – It is another important method of primary data collection. Interviews are
expensive as compared to other methods of data collection. In the interview the interviewer
collects information from each respondent independently. Due to this reason it becomes costly as
well as time consuming. Interview as a research tool can only be used if the researcher has plenty
of time and resources, otherwise it will be wastage of time and money to start interviewing.
Interviews are more reliable as compared to observation. To obtain reliable results interview
should be conducted by a single interviewer rather than having many.
Questionnaire - It is one of the most commonly used methods of data collection in
research. Questionnaires are formulated to get to the point information on any subject area. The
questionnaire is an inexpensive method of data collection as compared to other methods of
primary research. To formulate a questionnaire the researcher should formulate questions that do
not contain double meaning. Questions should have to be written in easy language that anyone
can understand.
Experiments - They are the most reliable source of data collection. Experiments consist
of logical series of actions that result in the answer to your query. Experiments can be conducted
in a controlled environment as well as in natural situations. The results of the experiments are
analyzed using suitable statistical tests and on the basis of these results conclusion is drawn.
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 SECONDARY DATA
Secondary data is investigating information that has already been assembled and can be
gotten to by specialists. The term stands out from essential information, which is information
gathered legitimately from its source.
Secondary data is utilized to build the examining size of research contemplates and is
additionally picked for the proficiency and speed that accompanies utilizing a previously existing
asset. Secondary data encourages huge research ventures, in which many research bunches
working couple gather auxiliary information. The principle analyst is then permitted to
concentrate on essential research or specific zones of intrigue. This division of work assists
researcher with learning more in less time. Normal wellsprings of existing secondary data
incorporate information gathered by government open administrations offices, libraries, internet
and censuses. Organizations use statistical surveying to draw on existing data from online life as
a wellspring of optional information. Internet based life is getting vigorously preferred in
statistical surveying, as sentiments are as of now accessible from a large number of clients on
numerous points and items.

The advantage of utilizing secondary data is that a great part of the primer work is
finished. The information may have just been arranged in an electronic organization, distributed
and looked into with contextual investigations previously directed.

4.12 DATA COLLECTION FOR THE STUDY

Primary Data – The data collected for this study is collected through primary data i.e.,
first hand data by the researcher through questionnaire filled by respondent through personal
interview.
Secondary data – collected through various e-magazine, official website, journals,
newspaper etc.

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 CHAPTER 5
DATA ANALYSIS
AND INTERPRETATION
 Chapter 5
Data analysis and Interpretation

5.1 DATA ANALYSIS

Data analysis and interpretation is the way toward allotting significance to the gathered
data and deciding the ends, hugeness and ramifications of the discoveries. It is a significant and
energizing advance during the time spent research. In all examination examines, examination
follows information assortment. According to C.R.Kothari (1989), “The term analysis refers to
the computation of measures along with searching for patterns of relationship that exist among
data-groups”. Analysis involves estimating the values of unknown parameters of the population
and testing of hypotheses for drawing inferences.
As per LeCompte and Schensul, research data analysis is a procedure utilized by
specialists for diminishing information to a story and deciphering it to determine experiences.
The data analysis process helps in lessening an enormous lump of information into little pieces,
which bodes well.
Three basic things happen during the information examination process — the primary
information association. Outline and arrangement together add to turning into the second realized
technique utilized for information decrease. It helps in discovering examples and subjects in the
information for simple recognizable proof and connecting. Third and the last way is information
examination – scientists do it in both top-down or base up design.

Marshall and Rossman, then again, portray information investigation as a muddled,

vague, and tedious, yet an imaginative and interesting procedure through which a mass of
gathered information is being brought to request, structure and significance.

We can say that "data analysis and interpretation is a procedure speaking to the use of
deductive and inductive rationale to the exploration and information investigation."

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 5.2 TYPES OF DATA IN RESEARCH
Each sort of information has an uncommon nature of depicting things subsequent to
doling out a particular incentive to it. For examination, you have to compose these qualities,
handled and introduced in an offered setting, to make it valuable. Information can be in various
structures, here are the essential information types

 Qualitative data: When the information introduced has words and depictions, at
that point we call it subjective information. In spite of the fact that you can watch
this information, it is abstract and, accordingly, harder to investigate information
in inquire about, particularly for examination. Model: Quality information speaks
to everything depicting taste, understanding, surface, or a sentiment is considered
as quality information. This kind of information is generally gathered through
center gatherings, individual meetings, or utilizing open-finished inquiries in
studies.

 Quantitative information: Any information communicated in quantities of

numerical figures is called quantitative information. This sort of information can
be recognized into classes, assembled, estimated, determined, or positioned.
Model: questions, for example, age, rank, cost, length, weight, scores, and so on
everything goes under this kind of information. You can present such information
in graphical configuration, outlines, or you can apply factual examination
strategies to this information. The (Outcomes Measurement Systems) OMS polls
in reviews are a critical wellspring of gathering numeric information.

 Categorical data: It is information introduced in gatherings. Be that as it may, a

thing remembered for the absolute information can't have a place with more than
each gathering in turn. Model: an individual reacting to a review by telling his
living style, conjugal status, smoking propensity, or drinking propensity goes

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 under the downright information. A chi-square test is a standard technique used to
dissect this information.

5.3 DATA INTERPRETATION

Data interpretation alludes to the usage of procedures through which information is
evaluated to come to an educated end result. The understanding of information doles out an
importance to the data broke down and decides its connotation and suggestions.

The significance of information translation is clear and this is the reason it should be
done appropriately. Information is probably going to show up from different sources and tends to
enter the examination procedure with heedless requesting. Information investigation will in
general be very abstract. In other words, the nature and objective of translation will fluctuate
from business to business; likely corresponding to the kind of information being broke down.
While there are a few unique sorts of procedures that are actualized dependent on singular
information nature, the two broadest and most basic classes “quantitative analysis” and
“qualitative analysis”.
However, before any genuine Data interpretation request can start, it ought to be
comprehended that visual introductions of information discoveries are unimportant except if a
quality choice is made with respect to sizes of estimation. Before any genuine information
examination can start, the size of estimation must be chosen for the information as this will have
a drawn out effect on information translation ROI.

Qualitative Data Interpretation

Qualitative data interpretation can be summarized in single word – clear cut. With
subjective examination, information isn't portrayed through numerical qualities or examples, yet
using unmistakable setting (i.e., content). Normally, story information is accumulated by
utilizing a wide assortment of individual to-individual strategies. These procedures include:

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 Observation: itemizing personal conduct standards that happen inside an observation
gathering. These examples could be the measure of time spent in a movement, the sort of action
and the technique for correspondence utilized.
Documents: much like how examples of conduct can be watched, various kinds of
documentation assets can be coded and isolated dependent on the sort of material they contain.

Interviews: a standout amongst other assortment strategies for account information.

Enquiry reactions can be assembled by subject, theme or class. The interview approach takes into
account exceptionally engaged information division.

Quantitative Data Interpretation

On the off chance that quantitative data interpretation could be summarized in single
word (and it truly can't) that word would be "numerical." There are barely any assurances with
regards to information investigation; however you can be certain that if the exploration you are
participating in has no numbers included, it isn't quantitative research. Quantitative investigation
alludes to a lot of procedures by which numerical information is examined. As a rule, it includes
the utilization of measurable displaying, for example, standard deviation, mean and middle. We
should rapidly survey the most widely recognized factual terms:

Mean: a mean speaks to a numerical normal for a lot of reactions. When managing an
informational index (or different informational collections), a mean will speak to a focal
estimation of a particular arrangement of numbers. It is the aggregate of the qualities separated
by the quantity of qualities inside the informational index. Different terms that can be utilized to
portray the idea are number juggling mean, normal and numerical desire.

Standard deviation: this is another factual term regularly showing up in quantitative

examination. Standard deviation uncovers the conveyance of the reactions around the mean. It
portrays the level of consistency inside the reactions; together with the mean, it gives knowledge
into informational collections.

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 Frequency distribution: this is an estimation measuring the pace of a reaction
appearance inside an informational index. When utilizing a review, for instance, recurrence
circulation has the ability of deciding the occasions a particular ordinal scale reaction shows up
(i.e., concur, firmly concur, dissent, and so forth.). Frequency distribution is very sharp in
deciding the level of agreement among information focuses.

5.4 IMPORTANCE OF DATA ANALYSIS AND INTERPRETATION

The motivation behind data collection and interpretation is to secure helpful and usable
data and to settle on the most educated choices conceivable. From organizations, to love birds
investigating their first home, data collection and interpretation gives boundless advantages to a
wide scope of establishments and people.

Data collection and interpretation, paying little heed to strategy and

qualitative/quantitative status, may incorporate the accompanying qualities:

 Information recognizable proof and clarification

 Investigating of information

 Recognizable proof of information exceptions

 Future forecasts

Data collection and interpretation, at long last, improves forms and distinguish issues. It
is hard to develop and make trustworthy upgrades without, at any rate, negligible information
assortment and translation. What is the key word? Dependable. Vague ideas regarding
performance enhancement exist within all institutions and industries. Yet, without proper
research and analysis, an idea is likely to remain in a stagnant state forever (i.e., minimal
growth).

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 5.5 DATA ANALYSIS AND INTERPRETATION OF RESEARCH

1. What all types of perfumes you focus on

a. Chemical perfume
b. Natural oil
c. Attars
d. Designer perfume
e. Niche perfume
f. All of the above

INTERPRETATION
There are different and wide varieties of perfume available in the market. The
types of perfume ranges from natural oil to luxury perfumes. A perfumer may
sometimes focus on one or many types of perfume. In this the respondent chose
the option f. All of the above because the respondent focus on all the types of
perfume but the primary focus is on the niche perfume which are made in limited
quantity and are quite expensive compared to designer perfume which are in mass
production and cheap compared to niche perfumes. The niche perfume are
available as per the needs of the customer because the niche perfumes are made
according to the taste and preference of the customer and niche perfumes are quite
expensive and making one takes about one to 14 weeks.

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2. What do you enjoy more in perfumery?
a. Formulation of perfume
b. Perfumery process
c. Labeling and packaging
d. Product designing
e. Creation of brand
f. Mixing of chemical formulas
g. None

INTERPRETATION
There are various stages in the perfumery. It ranges from making of a perfume. It
ranges from making or formulation of a perfume, distillation process, labeling and
packaging, product designing and creation of a brand etc. various perfumers have
different interest in different field of perfumery. Some are interested in producing
designing while others are interested in making of perfumes when asked the
respondent about his interest in perfumery the respondent chose formulation of
new perfume because the respondent is interested in creating new perfume and
natural oil. The respondent said most of the customers are tired of using the same
products, which prompted him in formulating new perfumes and fragrance to
satisfy and maintain his customer base.

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3. What made you to come up with the idea of perfume startup?
a. Growing perfume industry
b. Creating of a new product line
c. Growing demand of perfumes and incense
d. All of the above
INTERPRETATION
Many perfume startups have different ideas about starting a perfume business.
Some may start for the growing demand of perfume in the perfume industry and
others may start for the production of a new perfume line. The respondent selected
the option d. All of the above. Khushboo perfume started their startup because of the
growing demand for perfume, incense and natural perfume in the economy and for
creation of a new perfume line in the market. Because they believed that consumers
are dynamic in nature and want to explore new and eco-friendly products which are
available at affordable price.

4. What is your experience in the perfume industry?

a. No experience
b. Some experience (< 5 years)
c. Significant experience (>5 years)
d. Minimal experience, but my team is full of experts
e. Other:

INTERPRETATION
When you are into a business you need to have ample and enough knowledge about
the business and the products and also the market you are dealing with. Since the
respondent comes from a family who is dealing with the perfume for a very long
time. The respondent was aware about the market. The respondent chose the option
C. i.e. significant experience, since he has more than 10 years of experience in the
perfume industry.

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5. As a startup what are the struggles you had to face?
a. Lack of finance
b. Market condition
c. Customer base
d. Availability of capital
e. Financial management
f. Poor business planning
g. Lack of proper market strategy

INTERPERTATION
There are many struggles that a startup has to face during his initial stages of
business. It can range from lack of finance or availability of capital to poor
business planning or lack of proper market strategy. The respondent said that he
had to face certain struggles during his initial stages. Those were Market
conditions and Customer base. The respondent said that the perfume industry is
a dynamic industry. Building a strong customer base is hard and difficult and
since dealing with designer perfumes the customers are not aware about it and
penetrating in to the competitive market is difficult. The respondent said that a
Gucci perfume which cost Rs. 4000 in the market can be produced for a cheaper
price without changing the ingredient’s or the quality. But customers or
consumers are not aware about this because luxury perfume brands have a
favorable market and a good customer base.

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6. How have you funded your venture to-date:
a. No funding
b. Self-funded
c. Crowdfunding
d. Friends & Family
e. Love money
f. Bank loan
g. Other:

INTERPERTATION
There are various sources through which capital can be raised for setting up of a
business. It can be raised through bank loans which are given by banks with a
repayment method and with a certain rate of interest. The other way of raising
capital is through love money. Crowdfunding is the use of small amounts of
capital from a large number of individuals to finance a new business venture.
Crowdfunding makes use of the easy accessibility of vast networks of people
through social media and crowdfunding websites to bring investors and
entrepreneurs together. Love money is nothing but the capital given by family
and friends of an individual, usually an entrepreneur, to start a business.
But the respondent said that his source of capital was Self-funded. Since he had
the idea of starting a perfume startup he saved some money for the same purpose.

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7. On which market mix do you imply more?
a. Product Mix
b. Price Mix
c. Place Mix
d. Promotion Mix
e. All of the above

INTERPRETATION
There are various mixes in the market. But the most common and well known mix is
the product, price, place and promotion mix. How each individual apply this mix in
the market varies. When asked the respondent about the types of market mix he
follow, his response was all of them. The respondent believes that product has to be
delivered and made as per the taste and preference of the consumer or customers and
must maintain the quality of the product. For that he came up the idea where
customers can customize their perfume which will suit their taste. In price mix the
respondent believes that that the product has to sold in an affordable and reasonable
price without reducing the quality to attract the customers. The respondent said that in
perfume industry the place matters because the shop has to be set up in a place where
it is easily accessible to the market and also to the customer so as to retain the
customer base and also to increase the number of customers. Promotion plays a very
crucial because when right promotional tools are selected it helps in attracting large
number of customer. The respondent does his promotion through social media
because today almost everyone uses social media and because of this it helps the
respondent in reaching a large number of customers.

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8. What is the age group of your customers?
a. 18 - 20
b. 20 – 40
c. 40 - 50
d. 50 and above
INTERPRETATION
The age group and users of perfume varies from person to person or people to
people or country to country. In a country like India most of the perfume users
are young people between the age of 20 to 30 years. The respondent chose the
option b.20 – 40. Because most of the customers or consumers are in this age
group which consists of college students, IT professionals and working class
people who use perfume on a daily basis and people who prefer to smell good
and feel confident.

9. What does a customer prefer more?

a. Perfume
b. Attars
c. Essential oils
d. Incense sticks
e. If others, specify

INTERPRETATION
In a perfume industry the preference of customers varies and differs. Some may
prefer perfume which has light note and some may prefer hard note like musk or
tobacco and some may prefer attars or natural oils which has a strong and hard
note and whose fragrance last longer compared to that of perfume. As per the
respondent most of the customers prefer perfume because it contains mostly of
light notes and it does not leave a stain behind on clothes as compared to attars or
natural oils which leaves a stain behind because its alcohol free.

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10. What is the price range of your products?
a. 300 – 1000
b. 1000 – 2000
c. 2000 – 4000
d. 4000 and above

INTERPRETATION
The price of perfume varies and changes depending upon the procedure and
ingredients used in the making of a perfume. A normal perfume may start from
anywhere between Rs.300 and go anywhere up to thousands or Lakhs. The
respondent said that most of his products starts from rupees 3oo and goes up to
thousand. The respondent said that the price depends upon the selection of
perfume and the ingredients used in it. The respondent said that the natural
perfume and attars are more expensive or costly compared to designer perfume.
He said that a natural oud would cost up to Rs.40, 000/kg i.e. Rs. 4,000 for
100ml.

11. Who are your current competitors?

a. Luxury perfume makers
b. Local perfume makers
c. Other startups
d. If other, specify

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 INTERPRETATION
The perfume industry is a dynamic and competitive market. It’s a volatile market.
Every day we see new perfume coming up and new brands popping up in the
market. The luxury or well renowned perfumers have already established their
market in the economy so it plays a very difficult role for perfume startups to
come up. But as per the respondent the current competitors for him are the Local
perfume makers. The perfume market provides a huge margin for profit because
of this the local perfume makers procure or make perfume from cheap material
and they sell them at a high price. Its causes a threat for perfume startups like
him who are planning to establish his products in the market.

12. How do you market your products?

a. Online
b. Social media
c. Mouth to mouth publicity
d. Advertisement
e. All of the above

INTERPRETATION
There are various ways through which a product can be sold in the market. It can
be done through the traditional way i.e. mouth to mouth publicity. The modern
way of product selling is through online or social media which is growing and
gaining attention. The respondent sells his product through the online market i.e.
through various social media platform like Facebook, Whatsapp etc. Because it
helps in connecting large number of customers or consumers and helps it saving
cost through eradicating middlemen and saving cost in advertisement. The
respondent also said that even though he markets his products through online and
social media he still relies on the mouth to mouth publicity.

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13. If online , then which site
a. Amazon
b. Flipkart
c. Social media
d. Others
INTERPRETATION
In this modern economy the concept of online selling is gaining fame. There are
various site and platforms through which products can be sold online. The most
well-known sites in India are Amazon and Flipkart. Various products can be sold
and made available in the online market. But the respondent sells his products
social media platform like Facebook, Whatsapp etc. When you sell your products
through social media platform you are able to connect to a whole and large
number of customers and at the same time you can have real time conversation
about the various products and its price and you are able to attain a real time
feedback.

14. Where do you procure your raw materials from?

a. Directly from manufacturers
b. Wholesalers outside pune
c. Wholesalers inside pune
d. Retailers inside pune
e. Retailers outside pune
INTERPERTATION
There are many ways through which raw materials can be procured. The most
traditional way is Manufacturer – Wholesaler – Retailer - Consumers. The other
way Manufacturer – Retailer – Consumers. But the respondent procure his raw
materials Directly from Manufacturers because this helps in eradicating
middlemen or agents which help in obtaining good quality products or goods at
an affordable rate or price.

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15. How much time did it take you to attained the breakeven point?
a. 3-6 months
b. 6-9 months
c. One year
d. One year or more

INTERPRETATION
In simple words, the break-even point can be defined as a point where total
costs (expenses) and total sales (revenue) are equal. Break-even point can be
described as a point where there is no net profit or loss. The attainment of
breakeven point differs from organization to organization. The respondent
chose the option a. 3to6 months because the respondent was able to achieve
the breakeven point within 5 months of his initial business.

16. What was your fund required to start your business?

a. 5 lakhs
b. More than 5 to 10 lakhs
c. More than 15 to 20 lakhs
d. Others, specify

INTERPRETATION
In order for any new business or startups to come up in the market they require a
sufficient fund to set up. The fund can vary from a minimum amount of Rs. 5
lakhs and go up to Crores. But the respondent said that since his startup was
small in the initial stages he had an initial investment of Rs.5 lakhs.

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17. What do you think about the current perfume and startup market?
a. Competitive
b. Growing demand
c. Growing demand for natural perfume
d. Demand for eco-friendly products
e. Others

INTERPRETATION
The perfume industry is a very dynamic and volatile industry. The taste and
preference of consumers keeps changing. As a perfume startup there are various
factors which affect the future of the perfume industry. In today’s world there is a
growing demand for natural perfume and eco-friendly products. Because people
have become more cautions and aware about of their health and well-being. But
the respondent said that the problem that the perfume market is facing today is
the growing demand. The perfume market is a big and vast market and catering
to the needs of the growing demand of the consumers is difficult. As mentioned
earlier since the respondent deals in natural and eco-friendly perfumes, the
growing demand of these categories is increasing day by day and currently
meeting the growing demand is a struggle

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18. What is your business model:
a. B2B
b. B2C
c. B2B2C
d. Government
e. Nonprofit
f. I don’t know
g. Other

INTERPRETATION
There are various business models in a business. The most common are B2B and
B2C. The B2B means business to business, all the transaction take place with one
business to another business. The second is the B2C i.e. business to
consumers/customers. The other business models are B2B2C; in this the transaction
takes place with one business to another business and finally consumers. In this
model it consists of agents or middlemen. The other one is the Government or
Nonprofit model. The business model that the respondent follows is B2C i.e. business
to consumers because it helps in removal of middlemen or agents which help in direct
dealing with customers/consumers while helps in proving quality product at an
affordable rate.

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19. What are your future plans of expansion?
a. Opening up of a new store
b. Franchising of product
c. Launching a new product
d. Introducing a new brand
e. Exporting of perfume to foreign countries
f. All of the above
INTERPRETATION
When a business sees growth they have future plans of expansion. When asked
the respondent about his future plans. He chose the option f. Since he has been in
the market for quite a while he is planning of opening up of new stores in Pune
and also in different parts of India. He is also planning of launching a new
perfumery line in the market and also coming up with a new brand name called
Al Areez Fragrance. Since the government introduced Make in India scheme and
also promoting the export of products to other countries. The respondent has
future plans of exporting his products to the foreign market.

20. Do you think the perfume industry is more gender based?

a. Yes (specify)
b. No (specify)

INTERPRETATION
When asked the respondent whether the perfume industry is gender based or not
the response was NO. The respondent said that both men and women purchase
perfume for their day to day use. But the respondent also mention that most the
purchasers are men compared to women because India has a hot and humid
climate and in this climate people tend to sweat more. Because of this men
precipitate more than women and because of this men’s tend to use more
perfume as compared to women.

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 CHAPTER 6
FINDINGS AND CONCLUSION
 Chapter 6
Findings and Conclusion

Findings
1. In people’s minds, the expertise in perfumes lies only with established foreign
brands. The same foreign perfume brands are very expensive, used only for
occasions and not on a daily basis. For the Indian consumers a perfume is a
luxury, an aspirational product to own, which only comes at a premium price.
Deodorants and body sprays were used extensively instead, as substitutes for
perfume.

2. The factors of perfume buying have major impact on ratings of perfume. The
usage of perfume is more in the age group of 18-30 years. The age group of 18-30
years is more aware of perfumes. The improvement suggested by respondent is on
the quality aspect on perfume ranges.

3. Price is a major factor in deciding the success of a perfume in the Indian market.
Since the Indian customers or consumer are price conscious, they prefer good
quality products at an affordable or lesser price. So perfumes have to be made
keeping in mind the price and quality to attract the target customers.

4. Because of their innovative packaging, quality and pricing they were able to
attract more customers and making their presence in the online market helped in
expanding their market

84
5. They focused on all the aspect of the market mix i.e. product, place, price and
promotion mix which helped them in attaining better profit and in retaining their
customer base.

6. The respondent said that the perfume is not a gender based industry but he pointed
out that men prefer perfume more than women because of the precipitation issue
and to feel good and confident.

7. The B2C business model i.e. business to consumer or customer model helped in
building trust in customers because the model helped in dealing with customer
directly rather than engagement of a middlemen or an agent.

8. The procurement of raw materials is Directly from Manufacturers because this

method helps in eradicating middlemen or agents which helped in obtaining good
quality products or goods at an affordable rate or price.

9. The respondent chose the social media platform for online selling because
establishing a page or market in platforms like Amazon and Flipkart is quite
expensive compared to social media platform like Facebook, Whatsapp and
Instagram which are free and also helps in connecting large number of people and
customers because of the social connectivity.

10. Even though the respondent relies on the social media platform for selling his
products. He also heavily relies on the mass communication and mouth to mouth
publicity.

11. The rather obvious hurdle was dealing with the Indian consumer, their ever-so-
suspicion of the online seller. This skepticism only multiplied exponentially with
his product – as perfumes are sold solely after sampling.

85
 Conclusion
The hot weather temperature and humid conditions in India cause an unpleasant body
odour, and Indians are of the opinion that perfume usage enhances self confidence in their day-
to-day lifestyle. Although Indians give importance to self-grooming (public appearance), there is
less market penetration in Asia, particularly in India, for manufacturing perfumes. Based on the
present primary survey results, to increase the marketability of perfume products, the respondent
should give more importance to the message framing, perfume quality, and also the scheme
characteristics to attract consumers. Interestingly, the study results reveal that there is no
difference between genders in the usage of perfumes. Majority of the Indian consumers consider
choosing a perfume with quality and give priority to affordable niche and luxury perfumes. The
habit of using perfume mediates the relationship between message framing and purchase
decision of perfumes. In the prevailing market conditions, consumers expect high quality of any
perfume but with lesser price, but it also matters on the attractive labeling of the perfume
products. Besides, the consumers give high importance to the quality of the perfume, irrespective
of the brand. The periodical variation in perfume flavors is highly important to cater to the
different choices and preferences of the consumers. The packaging of perfumes plays a vital role
in the consumers' preference and attraction and there is no discrimination between branded and
non-branded perfumes as long as the quality is maintained. Furthermore, according to the
respondents, the name of the branded or non-branded perfumes needs to be more recognized and
popular to attract the target consumers.

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 CHAPTER 7
SUGGESTIONS
AND RECOMMENDATIONS
 CHAPTER 7
SUGGESTIONS AND RECOMMENDATIONS

This is the concluding chapter of a researcher thesis and it will bring out some relevant
and appropriate suggestions or recommendations that can be fruitful for the entrepreneur through
a researcher case study.

 Khushbu perfumes must spend time, money and scientific manpower to isolate
and synthesize molecules present in unique natural oils for making better
perfumes. This will enable to offer new unique odors to global F&F industry. This
should be the priority for future cutting edge-technology.

 Amidst various International perfume brands, Indian perfumes have got immense
challenge and have to come out with innovations in packaging, quality and price
also. India has more prominence of this industry in Uttar Pradesh and
Maharashtra, and Government must make measures to expand the business in
other states also. India has cutting edge competition in perfume industry but
innovative changes in perfume ranges can bring drastic revolution in the Indian
perfume market. The perfume companies must work considerably on significant
factors which influence the perfumes buying behavior of consumers.

 Lack of Infrastructure is one of the problems of Indian Perfumers and Khushbu

Perfume is one of them. Due to the poor infrastructure startups have to face a lot
of hurdles which even lead them to not showcasing their real strength. It is
suggested that perfume startups should raise their budget to overcome the
problem of infrastructure. They can take help or tie up with the local perfumers to
remove the disparities and enhance the distribution process.

87
 The government must support startups like Khushbu perfume through their
NSME scheme and provide the required loans and machines without any interest.
The government must make scheme for exporting of these products into the
foreign market and regulate policies and framework for them.

 In order for Khushbu perfume to gain the top position in the perfume segment, it
needs to deal with various stringent policies and have to lay down some important
strategies. Khushbu perfume has the potential to become one of the successful
perfume startup in India which can be succeed with taking aggressive steps in
pricing and placing strategies.

88
 REFERENCES

1. https://www.slideshare.net/meghasahu14/startup-theory

2. https://scroll.in/article/832440/smell-of-success-indian-perfumers-are-conjuring-up-
an-innovative-range-of-designer-fragrances

3. https://www.indianretailer.com/article/sector-watch/luxury/Homegrown-perfume-
brands-get-ready-to-take-India-by-storm.a5937/

4. https://www.researchandmarkets.com/reports/4315376/india-perfume-market-
overview-2016-2022

5. https://yourstory.com/2018/08/startups-common-challenges-tools-solutions

6. https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0218664

7. https://en.wikipedia.org/wiki/Perfume

8. https://en.wikipedia.org/wiki/Kannauj_Perfume

9. https://www.researchgate.net/publication/299512847_A_Study_of_Perfumes_Buying_Beh
aviour_of_Consumers_in_India

10. https://yourstory.com/2015/09/rajiv-sheths-all-good-scents

11. https://www.thoughtco.com/history-of-perfume-1991657

12. https://www.researchandmarkets.com/reports/4315376/india-perfume-market-
overview-2016-2022

13. https://insightalpha.com/news_details.php?cid=81&sid=81&nid=511

14. https://www.allassignmenthelp.com/blog/types-of-research/

15. https://www.questionpro.com/blog/what-is-research/

16. https://www.soas.ac.uk/cedep-demos/000_P506_RM_3736-Demo/unit1/page_26.htm

17. https://socialresearchmethods.net/kb/hypotheses-explained/

18. https://www.researchandmarkets.com/reports/4244552/india-fragrance-market-
outlook-2022
19. https://www.datapine.com/blog/data-interpretation-methods-benefits-problems/

20. https://www.sahapedia.org/technologies-of-perfumery-india-overview-and-the-case-of-
kannauj

21. https://www.researchgate.net/publication/323855305_INDIAN_STARTUPS-
_ISSUES_CHALLENGES_AND_OPPORTUNITIES

22. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2835322

23. https://www.transparencymarketresearch.com/fragrance-perfume-market.html

24. https://www.bbc.com/news/business-50585558

25. https://www.liveabout.com/what-is-oud-oudh-346101

26. https://economictimes.indiatimes.com/magazines/panache/how-indian-perfume-makers-
are-stepping-up-to-compete-with-global-fragrance-
giants/articleshow/62224997.cms?from=mdr

27. https://en.wikipedia.org/wiki/Attarwala

28. https://en.wikipedia.org/wiki/Oud
 ANNEXURE

Questionnaire

Name:
Age:
Educational qualification:
Website:

1. What all types of perfumes you focus on

g. Chemical perfume
h. Natural oil
i. Attars
j. Designer perfume
k. Niche perfume
l. All of the above

2. What do you enjoy more in perfumery?

h. Formulation of perfume
i. Perfumery process
j. Labeling and packaging
k. Product designing
l. Creation of brand
m. Mixing of chemical formulas
n. None
3. What made you to come up with the idea of perfume startup?
e. Growing perfume industry
f. Creating of a new product line
g. Growing demand of perfumes and incense
h. All of the above

4. What is your experience in the perfume industry?

f. No experience
g. Some experience (< 5 years)
h. Significant experience (>5 years)
i. Minimal experience, but my team is full of experts
j. Other:

5. As a startup what are the struggles you had to face?

h. Lack of finance
i. Market condition
j. Customer base
k. Availability of capital
l. Financial management
m. Poor business planning
n. Lack of proper market strategy
6. How have you funded your venture to-date:
h. No funding
i. Self-funded
j. Crowdfunding
k. Friends & Family
l. Love money
m. Bank loan
n. Other:
7. On which market mix do you imply more?
f. Product Mix
g. Price Mix
h. Place Mix
i. Promotion Mix
j. All of the above
8. What is the age group of your customers?
e. 18 - 20
f. 20 – 40
g. 40 - 50
h. 50 and above

9. What does a customer prefer more?

f. Perfume
g. Attars
h. Essential oils
i. Incense sticks
j. If others, specify

10. What is the price range of your products?

e. 300 – 1000
f. 1000 – 2000
g. 2000 – 4000
h. 4000 and above

11. Who are your current competitors?

e. Luxury perfume makers
f. Local perfume makers
g. Other startups
h. If other, specify
12. How do you market your products?
f. Online
g. Social media
h. Mouth to mouth publicity
i. Advertisement
j. All of the above
13. If online , then which site
e. Amazon
f. Flipkart
g. Social media
h. Others

14. Where do you procure your raw materials from?

f. Directly from manufacturers
g. Wholesalers outside pune
h. Wholesalers inside pune
i. Retailers inside pune
j. Retailers outside pune

15. How much time did it take you to attained the breakeven point?
e. 3-6 months
f. 6-9 months
g. One year
h. One year or more

16. What was your fund required to start your business?

e. 5 lakhs
f. More than 5 to 10 lakhs
g. More than 15 to 20 lakhs
h. Others, specify
17. What do you think about the current perfume and startup market?
a. Competitive
b. Growing demand
c. Growing demand for natural perfume
d. Demand for eco-friendly products
e. Others
18. What is your business model:
h. B2B
i. B2C
j. B2B2C
k. Government
l. Nonprofit
m. I don’t know
n. Other

19. What are your future plans of expansion?

g. Opening up of a new store
h. Franchising of product
i. Launching a new product
j. Introducing a new brand
k. Exporting of perfume to foreign countries
l. All of the above

20. Do you think the perfume industry is more gender based?

c. Yes (specify)
d. No (specify)