It is said that perfume is the art that makes the memory speak. ExoticScent Fragrances aims to provide the best fragrances to their customers so that these fragrances will accompany them in their most beautiful moments in life to make them unforgettable. We interview the shop's owner Mr. Malcolm and he shared with us his way to the business.
Can you briefly describe your business?
I own two fragrance and cosmetics stores in Zimbabwe. We offer original fragrances and cosmetics from famous brands such as Versace, BVLGARI, Givenchy, and so on. I began this business eleven years ago. I just had a passion for perfumes. My father was a diplomat and so he used to travel around a lot and come home with many types of fragrances. I just fell in love with fragrances at a very tender age and I developed a dream to open a shop of my own and sell these fragrances to other people and that is what I did.
Do you have many competitors in your sector?
Yes, many competitors are there, like more established department stores that offer the same products and have way more money than I do so it’s a bit of tough business. But I was able to offer the clients some other services or some other brands that they don’t offer cause I also stock fairy high and runs like De Marly, Maison Francis Kurkdjian, etc. My competitors don’t offer these brands. So I have the advantage of offering niche fragrances that are not offered elsewhere.
Are these niche fragrances some of your favorite perfumes or have you included them in your store to stand out from the competitors?
Zimbabwe is a really poor country but there is that 1% that is very very rich and while speaking to them I learned that they mostly import things or buy them while they travel to other capital cities of foreign countries. This is how I decided that I would provide them with whatever they wanted locally. I really wanted the brands to be there but also I wanted to create my own niche market to take advantage of.
Do you have a favorite perfume?
Yes, I do have favorite brands. I am a fanatic, I own a lot of perfumes. Most recently I like Maison Crivelli. It is a quite new house but has very nice fragrances such as Hibiscus Mahajád, and Patchouli Magnetik. To move on, I like Maison Francis Kurkdjian Baccarat Rouge 540, Tygar Bvlgari and many others.
What is your philosophy in business?
I believe in offering the base products at the base prices and being transparent with my clients. I don’t want to take advantage of my customers by charging them higher prices for products that cannot be found locally. I believe in the efficiency of service. The customer should have the right perfume at the right price at the right time. This is basically how I work, this is my philosophy. And always keep up with what is happening in the western capitals even though my shops are located in Zimbabwe, a very poor African country, I always try to make my shop look nice and modern and try to stock the latest brands.
How did you first learn about Loyverse?
To be honest I was using another POS system which was very disappointing. I just went on Google and searched for the Best POS systems for small businesses and Loyverse appeared. I tried it out and I have been using it since then.
What features of Loyverse have been most helpful in your business?
Mainly the Inventory management system. I like that I can view the retail inventory value of all my stock in both of my stores and for each store separately. I like that I can check the sales that I made for a specific period of time. My favorite feature is the Low stock notification because that reminds me of the products I have low in stock automatically without me having to check all the items one by one. I am also using Employee Management. I have 6 employees and with Employee Management I can track their activities and restrict their access rights.
What message would you give to young entrepreneurs?
Do whatever you have passion for, you should take risks and make sure to have a very strong team. Don’t look for cheap labor, pay your workers well and I am sure the business will work out. Last but not less important you need to advertise as well, advertise as coca-cola, your business must appear everywhere. For example, I use Instagram, Facebook, TikTok, and Twitter. I also use paid partnerships with influencers here in my country as well.