Parfum d'image renamed to reflect global identity
changed its name to MAESA, reflecting its more global scope
following a recent business acquisition in the US.
The change of name reflects both the fact that the group has altered its focus from being France-based to developing a European-wide client-base that has now given way to a North American base. "Ten years since it was founded, the group has adopted a name that reflects its international dimension and vast product range," the company said in a statement. "MAESA is easy to pronounce in all languages, while its Latin and feminine sound fits well with the group's global positioning within the beauty world." MAESA is actually a plant species, the company points out, that is particularly resistant to extremes of climate and develops in different ways, according to where it grows. The name change also reflects its philosophy and the way in which it envisages the company growing its made-to-measure services for fragrance and cosmetic products on a global basis. The company has been enjoying double-digit growth of late, having posted full year sales up 27 per cent to €25.99m as of September 2007 and net profits for the period up 26 per cent to €3.2m. This growth is expected to be further boosted in the financial year ahead following the company's purchase of the US-based Latitudes International Fragrance business in November last year. Although MAESA's sales in the US amounted to little more than €1m in 2006, the acquisition is expected to boost global revenues and scope during the course of the 2008 financial year. Latitudes had total sales of $22m (€14.8m) in the financial year ending in September 2007, a figure that should significantly swell next years results for MAESA. Indeed, CEO Julien Saada has recently outlined his belief that the company should achieve total sales of €41.5m in the financial year ahead, backed up by EBIT of €7.3m.
