Investors catch a big whiff of money in D2C fragrance firms

Initial signs of India’s direct-to-consumer fragrance and deodorants segment attracting risk capital are emerging, with several early-stage brands in talks to raise funds.

DSG Consumer Partners is in discussions to invest Rs 18-20 crore in Phitku, which sells alum-based underarm roll-ons and is doing monthly sales of Rs 1.5-2.0 crore, said people in the know. Verlinvest-backed V3 Ventures is negotiating a Rs 20-25 crore investment in Fraganote, which currently posts Rs 2.0-2.5 crore in monthly revenue.