Liberty has forayed into lifestyle retail with the launch of a new business venture, Liberty Lifestyle, to expand its portfolio and attract shoppers from small cities.
To kickstart its new venture, Liberty has unveiled its first range of perfumes to tap into the increasing demand of perfumes by the Indian audience. The range consists of twelve fragrances with six for men and six for women. Liberty Lifestyle is further launching an e-commerce website to boost its sale.
According to Adesh Kumar Gupta, CEO, Liberty Shoes, the fragrance segment currently occupies 5% share of the total lifestyle market in India, which could give them a huge window for growth as they aim to establish the brand as the most preferred and recognized luxury perfume brands by 2020.
He said: "Also, we are hoping to get a tremendous response from the millennial and are targeting sales of over two lakh bottles by the end of next year. This launch is only the beginning for us and we are also looking at expanding our product portfolio by the end of next year.
“We want to establish a brand that is for confident yet rooted young millennial. Our thought behind this new launch was not just restricted to increasing the turnover but also steering shoppers from smaller cities by giving them access to a classy range of fragrances at affordable prices and expanding our footprints further.”