Iris Aroma plans to open 12- 15 stores in two years

Iris Aroma products of Ripple Fragrances, offshoot of Cycle Pure Agarbathi-famed NR Group, which has 2500 touchpoints at retail plans to expand its presence across the country and open around 15 Iris Aroma stores in the coming two years. Sharing their expansion plan with Retail4Growth, Kiran V Ranga, MD, Ripple Fragrances said, "This is not a category where penetration is going to be very high. So, we don’t want to be present in all the major markets. At present we are in Chennai, Pune, Bangalore and we are looking to have our presence in other prominent markets, which may not be only in Tier 1 cities. It may be others like Goa and Chandigarh where spend on our category and product accessories is high. The home improvement/décor stores are big avenue for us and we are present there. So if it's a mall, it has lot of formats and we would be present in any of those formats."

Kiran adds that the market for feel good products, in the overall fragrance market, would be around Rs 80-90 crores with growth of around 25-30%. "Here again the market is not very organized. Whereas in the functional space, car fresheners, room fresheners and toilet deodorizers are the 3 major categories." With a sizeable portion of their business coming in from overseas, Kiran adds, "We’re already in Nepal for the functional products and for the feel good products, we’re present in Russia, Poland, Spain, Portugal, UK, US and Middle East is one of the significant regions for our business."