Each month we look at a standout client an ICAEW member has recommended. This month Key Business Consultants explain why they chose Thameen Fragrance.
Thameen Fragrance is a niche British brand that creates luxury fragrances, combining Eastern opulence with Western refinement. These unique perfumes include ingredients that have been painstakingly sourced to ensure the upmost quality and highest concentration.
Key Business Consultants provide up-to-date bookkeeping for Thameen Fragrance such as bank reconciliations on a weekly basis to deliver high quality accounts in a timely manner. Additionally, we analyse the business performance and offers valuable advice.
More information can be found here.
Thameen Fragrance operates in a highly competitive market. The fragrance industry is heavily crowded with international and designer brands, and there are nearly 4000 new launches annually. In order maintain their market share, they must continue to create innovative products, such as hair and baby fragrances, whilst guarding their exclusivity to appeal to the niche customer.
Owing to the quality of the ingredients used in these fragrances, which are often found in far-flung locations, it is difficult to source them in bulk, so their products are only produced in limited batches. However they have so far turned this to their advantage, as the limited availability contributes to their exclusivity.
As well as the quality of the ingredients used in their fragrances, Thameen is known for its quality customer experience across their sales outlets. They also put a huge amount of effort and training into their sales staff, building enthusiasm and loyalty that translates into strong, consistent sales. This combined strategy has already yielded dividends as they have become the number 1 best-selling fragrance brand in Selfridges Oxford Street.
They were ahead of the curve by employing cost effective social media marketing strategies to build their brand awareness with different target markets, whilst guarding their exclusivity to a handful of points of sale.
While Thameen’s products are competitively priced, they are marked out by the consistently high oil concentration, which guarantees the longevity of the scent on skin. Equally, the structure of their fragrances is complex and unique, combining both Eastern and Western flavours, which changes over the course of the day and from person to person. Using their Carved Oud fragrance as an example, one wearer may smell the oud straight away, while another will pick out the cedar.
They are also different by their insistence on hiring, training, and nurturing all their own sales staff, instead of relying on agency stand-ins as so many of their competitors do. They have created their own talent pipeline through this system, regularly promoting shop floor sales staff into management positions.
Thameen has expanded its existing fragrance range with The Cora, a lighter and fresher scent containing wisteria and lily of the valley, complimenting the heavier fragrances in the range. They have built on the huge success of their 2016 fragrance, Rivière, by releasing this as a Hair Fragrance. The hair fragrance range, containing Keratin, Argan oil, and pro-vitamin B, is designed to nourish the hair as well as scenting it.
The brand is also launching is first globally exclusive fragrance for Selfridges in the UK called Kiani, which again provides a fresher twist on the existing range, with sandalwood, green pepper, and vetiver.