India’s direct-to-consumer (D2C) ecosystem has seen explosive growth over the past five years, driven by rising digital adoption, improved logistics, and a new generation of brand-first entrepreneurs. Among the most intriguing segments within this ecosystem is the fragrance and personal care category—an industry where tradition, aspiration, and identity intersect. Today, investors and founders alike are asking a compelling question: where will India’s next breakout D2C brand emerge from—and could it be in scent?
The Rise of Fragrance-Led D2C Brands
Historically, India’s fragrance market has been dominated by legacy players, unorganized attar sellers, and global luxury imports. However, the
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