Tata group's fragrance brand Skinn, part of the listed Titan Company, is eyeing a Rs 500-crore turnover and more than doubling market share by 2022-23.
In an investors' presentation, Titan said, currently Skinn is a Rs 120 crore brand with a market share of 9 per cent. "By 2023, target is Rs 500 crore (turnover) and 20 per cent market share," Titan added.
The market is largely unpenetrated and expected to grow from current Rs 1,350 crore to over Rs 2,500 crore by 2022-23.
"Focus to rapidly build scale and deepen category expertise...establish a strong retail network in top 20 towns over next 5 years," Investors presentation added.
Titan, which presently operates five stores across Delhi, Bangalore, Hyderabad, is targeting to open 15 stores in the current fiscal.
For 2018-19, Titan posted a net profit of Rs 1,388.65 crore and total income of Rs 19,961.46 crore.
Titan forayed into the fragrances segment in 2013.
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