AdilQadri, a direct-to-consumer perfume brand, has set its sights on achieving INR 250 crore in revenues for the fiscal year 2025. Additionally, it intends to secure $4-5 million in funding from venture capitalists.
In FY23, the company achieved about INR 20 crore in revenue and is projected to conclude the current fiscal year with sales totaling INR 90 crore.
“We are looking to open online stores in the US, Canada. And we are planning offline and online stores in Saudi and we are expanding to D2C in Dubai which previously only had a retail store,” said Qadri who started the firm in 2018.
With 15 stores already established in Gujarat and Maharashtra, expansion plans are underway to reach regions such as Telangana, Kerala, and Delhi. The company aims to build a network of 111 stores across India and overseas within the next five years.
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From a modest 20 orders in 2019, AdilQadri Perfumes has surged to over 80,000 orders monthly across various channels. According to a Technavio report, the perfume market in India is projected to expand to $1328 million between 2022 and 2027, with a compound annual growth rate (CAGR) of 15.23%. This growth hinges on several factors, including rising demand from millennials, impactful endorsements by celebrities and on social media platforms, and a growing emphasis on personal grooming.
The Gujarat-based firm has emphasized its collaboration with multiple tech enablers to cater to various functions and business needs. For example, it utilizes Shopify as a platform, Shiprocket for logistics, and GoKwik for checkout, return to origin, and prepaid shares. The company has reported that GoKwik contributed to a 40-45% increase in prepaid transactions.
“Over the past two years, this strategic collaboration has proven immensely successful, with checkout conversions soaring from 18% to an impressive 30%. The prepaid orders also experienced a significant uplift of 40%, while the RTO rate has come down from 35% to 27%, showcasing the brand’s commitment to building solutions that optimised shopper experience, thereby unlocking growth for the brand,” said Qadri
Roughly one-third of the orders are received for gifting purposes, and the company intends to enhance the gifting experience by focusing on packaging and expanding its product line. Additionally, the company is gearing up to introduce its incense sticks on its website, thereby broadening its offerings in the fragrance category.
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