# GoldenScent

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/goldenscent

- Industry: Consumer Products
- Headquarters: Riyadh, Saudi Arabia
- Website: www.goldenscent.com
- Latest round: Series A (Dec 21, 2017)
- Investors on record: 6

## About

GoldenScent, based in Saudi Arabia, is a prominent online retailer specializing in a diverse selection of fragrances and beauty products, including luxury perfumes and home fragrances for discerning customers.Founded in 2014 in Riyadh, Saudi Arabia, GoldenScent operates as an online retailer of fragrances and beauty products, catering to the growing demand for luxury items in the region. The company was co-founded by Malik Al-Shehab and Ronny Froehlich, with Malik also serving as the CEO. Over its operational years, GoldenScent has successfully completed three funding deals, with the most recent funding round occurring on August 8, 2023.GoldenScent specializes in the retail of a wide variety of fragrances and beauty products, prominently featuring international and niche perfume brands. Their core offerings include a diverse range of luxury perfumes, home fragrances, and beauty items, tailored to cater to the preferences of a sophisticated clientele. The company provides a seamless online shopping experience, allowing customers to browse and purchase products such as scented candles, room diffusers, and exclusive fragrance collections. Targeting customers in Saudi Arabia, Kuwait, the United Arab Emirates, and Oman, GoldenScent appeals to both individual consumers seeking personal fragrances and gift buyers looking for high-quality, branded products. Established within the competitive online retail landscape, GoldenScent's products are designed to meet the desires of fragrance enthusiasts and connoisseurs alike.GoldenScent operates on a direct-to-consumer model, facilitating sales through their online platform. The company structures its revenue primarily through individual sales transactions, where customers can purchase items at set prices. These transactions include a variety of fragrance collections, such as the "Classic Collection" and "Elite Collection," which feature multiple items offered at discounted prices. This model allows GoldenScent to engage with a diverse consumer base, generating revenue through direct sales of perfumes, home fragrance products, and beauty items. The company’s straightforward pricing and exclusive product offerings contribute to its position in the fragrance retail market.In August 2023, GoldenScent raised an undisclosed amount of venture funding from new investor Tenami Capital. The company plans to utilize this funding to expand its market reach and enhance product development. Upcoming initiatives include the launch of new fragrance lines and potential expansion into additional markets within the Gulf region, aiming to capture a broader audience of fragrance consumers.

## Funding rounds

- Series A, Dec 21, 2017 — NordCapital, Entrepreneur Invest, Wamda Capital, Saudi Aramco, RAED Ventures, Saudi Aramco Entrepreneurship Ventures

## Investors

- NordCapital (https://capitalatlas.ai/funds/nordcapital) — Series A
- Entrepreneur Invest (https://capitalatlas.ai/funds/entrepreneur-invest) — Series A
- Wamda Capital (https://capitalatlas.ai/funds/wamda-capital) — Series A
- Saudi Aramco — Series A
- RAED Ventures (https://capitalatlas.ai/funds/raed-ventures) — Series A
- Saudi Aramco Entrepreneurship Ventures (https://capitalatlas.ai/funds/saudi-aramco-entrepreneurship-ventures) — Series A