The perfume market in Georgia expanded by 28% in 2024, according to financial reports from the country’s leading companies. Combined sales of the three largest players - ICI Paris, Lutecia, and Voulez-Vous, reached 159 million GEL, up 35.1 million GEL from the previous year. Including duty-free sales at airports, the total market volume exceeded 200 million GEL.
ICI Paris remains the largest market player, operating 20 stores nationwide. In 2024, it recorded 70.2 million GEL in sales (19% growth), with a profit of 10.5 million GEL. Lutecia followed with 68.1 million GEL in sales, a 39% increase, generating 9.3 million GEL in profit across 13 stores. Voulez-Vous achieved 20.9 million GEL in sales (30% growth) and 1.3 million GEL in profit from its 10 stores.
Duty-free terminals are another key segment of the market. ATU Georgia, the operator of duty-free trade at international airports, reported total sales of 121.7 million GEL, with 42.5 million GEL coming from perfumes and cosmetics - a 44% annual increase. Duty-free outlets contribute significantly to overall market growth and consumer access.
Including both retail and duty-free channels, the perfume market in Georgia reached 202 million GEL in 2024. The growth reflects rising consumer demand for fragrances and cosmetics, as well as the expansion of retail and airport-based outlets across the country.
