The Dua Brand's Reports Uplift in profit for 2021
The Dua Brand, an independent niche fragrance house in Los Angeles, California, reports boost in profits in 2021. The brand is well known for having a broad collection of handcrafted perfumes, using natural oils that allow scents to last for more than 12 hours.
When the company was founded in 2016, their mission was simple. "We wanted to bring a collection of fragrances inspired by the most expensive brands out there and make them affordable for people across the world," says Masham Raza, the CEO and founder of The Dua Brand.
Since then, they have invested in learning more about the art of perfumery, gathering certified chemists, and creating original scents. This is what triggered the growth in growth the company experienced throughout 2021 and into 2022.
The Dua Brand has expanded to have five main divisions of their ever-growing collection. These consist of four brands, the Originals, the Inspirations, the Hybrids, the Tribrids, and the Quadrids. The latter two focus on taking three or four existing keynotes from different perfumes to craft new blends, adding a unique touch to each scent.
The Dua Brand is pioneering is having no specific fragrance line, which is a rare strategy within in the perfume industry.
"The Dua Brand has the biggest fragrance collection worldwide," says Syed Ali, the company's CMO. "We have achieved this by releasing about 8-10 fragrances every week, which is either an Original, Inspiration, or a Hybrid."
The team continues to garner praise and positive reactions from consumers despite this seemingly strenuous practice. That is because each of these perfumes, bottles, packaging, and branding go through a rigorous quality control system headed by Mahsam Raza and Syed Ali. Aside from that, all their raw materials are procured through certified vendors and processed under the supervision of IFRA chemists before being imported into the US.
With a library of more than 1000 fragrances the company has established a business model and approach to the market is fueling growth. "The key is consistency," the team says. "We are focused on consistently creating new fragrances, blending unique scents, and making sure that the products are of the highest quality before we put them out."
The Dua Brand seems set on taking advantage of the reported market growth for the years. According to the Perfumes and Fragrances Market report, the global market is expected to be worth $1.95 billion in 2022, reaching $2.52 billion by 2028. This has also taken into account the significant economic changes brought on by the health crisis. Demand for these products continues to increase, meaning higher online sales of fragrances and perfumes are expected to skyrocket the market's growth prospects over the forecast period.
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