For young Indians who work who juggle on deadlines and responsibilities, mental well -being is becoming a priority. They are willing to spend for soothing experiences, for request, something accessible like fragrances. This is the market opportunity on which it is betting ITC. The company has silently offended in the space of aromatherapy (aromas of the house) with the launch of a new brand, Pranah, which will offer consumers a range of premium incense sticks, cones and fragrant candles.The market of home aromas in India (with mass actors such as Odonil, Ambi Pur) is anchored to some 5,500 RS, but ITC is playing at the premium end still emerging, where some digital brands currently operate.
The premium market of aromatherapy is currently about 500 crores, but it could touch 5,000 crores in a decade, given its rapid growth, Gaurav Tayal, Division CEO, matches and activities of Agarbatti at ITC in Toi. “Post Covid, there has been a wave in consumer demand for wellness choices. The new generation concerns experiences,” said Tayal. The market opportunity also lies in the fact that there are no major actors in space starting now and that the products on the shelves are not supported by science, explained Tayal.For now, Pranah has been launched in pilot mode in Delhi and Bengaluru through quick commerce channels.
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