Rasasi Perfumes, a Middle East perfume brand, has recorded strong sales growth in the first half of 2017, according to a statement released by the company on Tuesday.
Compared to the same period last year, Rasasi has achieved a four per cent rise in sales in the first six months of 2017.
Salim Kalsekar, Managing Director of Rasasi Perfumes, said in a statement that the company’s growing retail footprint across the GCC (Gulf Cooperation Council), as well as the continued diversification of the company’s range of products, and a growing demand for traditional fragrances had all contributed to its positive results.
The fragrance market in the region is estimated to be valued at approximately Dh5.5 billion to Dh6.5 billion.
“We project that the economic conditions will become increasingly favourable as the year progresses, especially with Eid Al Adha motivating a larger spend dedicated to Arabic perfumes and gifts in the region. We look forward to building on this growth in the GCC as we prepare to open new outlets in targeted locations and introduce fresh, innovative products to market,” Kalsekar said.
Rasasi is looking to expand its footprint with 10 new outlets in 2017, including stores in Mercato and Ittihad Mall in Dubai.
Expansion plans starting next year will see the esteemed perfume brand open 15-20 stores across the GCC by 2020 with scope to explore further pipeline opportunities.