Honasa Consumer, the parent company of Mamaearth, The Derma Co, BBlunt, and Dr. Sheth’s, has announced its entry into the fragrance category with a new brand called FIKN. The company revealed this move during its June quarter earnings call and in its Q1 FY27 investor presentation, highlighting fragrance as the fastest-growing segment in India’s beauty and personal care market over the next decade, according to medianama.com.
Founder and CEO Varun Alagh explained that Honasa is targeting the underpenetrated Indian fragrance market, which currently accounts for just 3% of the beauty and personal care segment compared to 11% globally. Citing data from market research firm Circana, Alagh noted that 37% of prestige retail beauty growth in the US is driven by fragrance. Additionally, a November 2025 YouGov report showed only 6% of Indians use fragrance, compared to 37% in the US, underscoring the growth potential for FIKN.
The company is also capitalizing on the shift of the perfume category towards e-commerce. A report by Wazir Advisors titled ‘The Scent of Opportunity’ highlighted that fragrance retail value on e-commerce platforms has grown to 28%, a 30-fold increase since 2011. This shift challenges the previous notion that perfumes require in-person experiences, positioning digital channels as key to expanding fragrance sales in India.
Honasa Consumer’s launch of FIKN marks its strategic expansion beyond skincare and personal care into fragrances, aiming to capture a growing segment. The company’s Q1 FY27 investor presentation emphasized fragrance as a key growth driver, aligning with broader market trends and digital adoption in India’s beauty industry.