ONE Drop Sdn Bhd, an importer and distributor of alcohol-free fine perfumes, is aggressively looking towards expanding its overseas market, particularly Europe, hoping this would push up its revenue to reach RM8 million in the next 24 months.
Its managing director Josafri Johari said the company has chalked up a revenue of RM3 million since it began business operations in April last year.
"We plan to set up a marketing office in London, which will serve as the company's distribution base for our perfumes in Europe by the end of this year.
"We are looking at allocating half a million ringgit to recruit staff, and run a public relations exercise. We want to penetrate the European market through online marketing," he told Business Times.
Josafri foresees potential for its perfumes in the UK market because they will be sold in British currency.
"We can make high (profit) margins and I am familiar with the market as I was studying there (previously)," he said.
One Drop's perfumes are currently sold in Singapore, Brunei, Vietnam and Indonesia, and will include Australia soon.
Its lawyers are also working on an agreement to sell its fragrance in South Africa and Belgium.
Josafri was studying banking and business in the UK, before taking up a post in Bank Negara in 2001 where his last post was in the foreign exchange division. He resigned in 2006 to help his mother in the perfume business.
"It was a big risk, but I think so far it has been worthwhile. Today, we have established a market here, capturing an 85 per cent share of the local fine perfumes market and have 1,300 distributors," he said.
With aggressive campaigning and attractive packaging, Josafri expects overseas contribution to increase from the current 25 per cent of the company's total revenue.
"We aim to see overseas contribution grow to 40 per cent in the next two years," he said.
In this regard, he said the company is spending between RM50,000 and RM80,000 a year to promote the fine perfumes or popularly known as "minyak attar".
"We are trying to promote these perfumes to the non-Muslims as our perfumes are actually inspired by international brands such as Escape of Calvin Klein, Romance of Ralph Lauren and Pleasure of Estee Lauder. These fine perfumes are not solely for the Muslims," he said.
One Drop also plans to set up a manufacturing facility in Malaysia.
"We are looking at having our own factory in the next two or three years. We are targeting at least RM5 million to set up the factory, including buying of machines, advertisements and promotions. We are taking it one step at a time," he said.
At present, One Drop engages a partner in Egypt to produce the perfumes based on the company's formulation and imports them into the country for repackaging in Penang before selling them to the local and overseas markets.
Its managing director Josafri Johari said the company has chalked up a revenue of RM3 million since it began business operations in April last year.
"We plan to set up a marketing office in London, which will serve as the company's distribution base for our perfumes in Europe by the end of this year.
"We are looking at allocating half a million ringgit to recruit staff, and run a public relations exercise. We want to penetrate the European market through online marketing," he told Business Times.
Josafri foresees potential for its perfumes in the UK market because they will be sold in British currency.
"We can make high (profit) margins and I am familiar with the market as I was studying there (previously)," he said.
One Drop's perfumes are currently sold in Singapore, Brunei, Vietnam and Indonesia, and will include Australia soon.
Its lawyers are also working on an agreement to sell its fragrance in South Africa and Belgium.
Josafri was studying banking and business in the UK, before taking up a post in Bank Negara in 2001 where his last post was in the foreign exchange division. He resigned in 2006 to help his mother in the perfume business.
"It was a big risk, but I think so far it has been worthwhile. Today, we have established a market here, capturing an 85 per cent share of the local fine perfumes market and have 1,300 distributors," he said.
With aggressive campaigning and attractive packaging, Josafri expects overseas contribution to increase from the current 25 per cent of the company's total revenue.
"We aim to see overseas contribution grow to 40 per cent in the next two years," he said.
In this regard, he said the company is spending between RM50,000 and RM80,000 a year to promote the fine perfumes or popularly known as "minyak attar".
"We are trying to promote these perfumes to the non-Muslims as our perfumes are actually inspired by international brands such as Escape of Calvin Klein, Romance of Ralph Lauren and Pleasure of Estee Lauder. These fine perfumes are not solely for the Muslims," he said.
One Drop also plans to set up a manufacturing facility in Malaysia.
"We are looking at having our own factory in the next two or three years. We are targeting at least RM5 million to set up the factory, including buying of machines, advertisements and promotions. We are taking it one step at a time," he said.
At present, One Drop engages a partner in Egypt to produce the perfumes based on the company's formulation and imports them into the country for repackaging in Penang before selling them to the local and overseas markets.
Source : Business Times Online
