Eurofragance enters the United States market by acquiring Fragrance Design
The announcement from Eurofragance comes hot on the heels of its appointment of a new CEO in Laurent Mercier, and all points to an ambitious year ahead for the fragrance company.
It has acquired a majority shareholding in Atlanta-based Fragrance Design LLC, a company that specializes in body care and household fragrance products.
“This acquisition has given Eurofragance a firmer foothold on the American continent and strengthened its position in the Body Care and Household sectors, the new company’s specialist areas,” the Barcelona-headquartered company asserts.
Eurofragance already operates in the American market through a plant and creative centre in Mexico, and is now entering the United States.
The plan for Fragrance Design
Fragrance Design by Eurofragance will keep its existing workforce, and add new members of staff. Eurofragance will provide the necessary financing and human resources to ensure growth and development, it says.
The acquisition includes 1,200 square metres of facilities equipped with modern technologies and an extensive fragrance library, which will join Eurofragance’s current range.
“The team at Fragrance Design and its founder, William L. Hamilton, are extremely experienced in the Body Care and Household sector,” explains Eurofragance. “Mr Hamilton is staying on as a minority shareholder and general manager.”
The company indicate that it is now putting into place a five-year strategy for its presence in North America, noting that Hamilton “will work with the Eurofragance management team to implement a five-year expansion plan in the United States.”
New CEO
Mercier took on the reigns of the CEO role at the start of this year, with the company stating that the appointment means the company will push ahead to meet its 2020 strategic vision on a global scale.
“Mercier has been the main driving force behind the transformation of Eurofragance, and in his new position he will implement the 2020 strategic plan to boost the company's growth and profitability,” the company states.
Mercier joined Eurofragance as global business director in 2013, and has played a key role in its business diversification and international expansion strategy.
