Givaudan opens creative fragrance center
The company says that construction of the facility was finished at the end of last year and the center is now fully operational, including a three-floor creation and science wing, adjoining a two-floor commercial hub.
The facility underlines Givaudan’s aim to tap into the latest technologies for fragrance development, which many see as being the way to get ahead in this ultra competitive market.
Increasingly sophisticated consumer
In recent years innovations in fragrance development have been helping to attract an increasingly sophisticated and demanding consumer.
This has led to a number of high tech innovations, including the development of fragrances that include nanotechnology – allowing fragrances to be time-released – as well as fragrances that include biotech pheremones for added sex appeal.
The construction is said to have complied with the highest eco-friendly standards and houses what the company claims is some of the most technologically advanced fragrance research and development facilities in North America.
Investment of $62m
This is achieved through state-of-the-art odor booth technology, fabric and personal wash labs, as well as air care technology capabilities, which in total amounted to an investment of $62m for the project.
Ultimately the company says that the facility should help make a significant contribution towards its goal of making further gains in market share for all the consumer goods categories it represents within the fragrance market.
For the first nine months of the financial year to October 2008 the company reported that sales were up 2.1 per cent to CHF3.15bn ($2.78bn), a figure that was mainly buoyed by the flavors market.
Five-year plan
The company said that fragrance sales for the period only rose by 1.5 percent to CHF 1.46bn.
Over the next five years the company expects to create CHF620m in incremental sales above and beyond the market growth.
To achieve this target, Givaudan plans to increase the share of its turnover stemming from developing countries and make a strategic move towards regional and smaller clients.
