“It is critical that in our quest for innovation, we find products and technologies that align with and support our purpose – to redefine and transform how we live in and care for the resources of our world,” Nicolas Mirzayantz, CEO of IFF’s scent division tells the press.
“With Speximo’s focus on sustainability,” he says, “this acquisition fills that need and helps us support our customers’ efforts and consumer desire for products with a greener profile.”
Green beauty technology
The Speximo stabilization and encapsulation ingredients are derived from quinoa and make sense in a variety of formulation formats, including powers, creams, and spray products.
IFF-Lucas Meyer Cosmetics purchased the company and its tech as a move toward providing customers with greener and more ethical ingredient options. “Speximo’s unique technology strives to align with the UN sustainable development goals (SDGs) and considers the ethical aspects of raw materials, production, and consumption,” according to IFF’s media release.
Antonio Lara, president and CEO, IFF-Lucas Meyer Cosmetics, highlighted the importance of sustainability in his remarks about the acquisition: “Bringing Speximo’s highly regarded technologies and intellectual property in-house will give IFF-LMC a competitive advantage in the marketplace with their sustainable multifunctional emulsifiers and texturing ingredients,” he says, adding that “both are derived from nature and biodegradable, allowing our customers to formulate environmentally friendly transformative textures that can have a great impact on the consumer experience. We look forward to welcoming Speximo to the IFF family.”
In mid-2018, IFF introduced a next phase of corporate sustainability. The EcoEffective+ initiative set “new targets for company water use, waste to landfill, and greenhouse gas emissions,” as Cosmetics Design reported at the time.
“We developed these goals by reviewing what is essential to IFF, our stakeholders, and most importantly, the planet,” company chairman Andrea Fibig told the press when the EcoEffective+ goals were announced. “We have an unyielding commitment to the Earth and I believe that excellent environmental stewardship is both good business and absolutely the right thing to do.”
But even before that the company was strategically focused on eco-friendly business, by for instance investing in Bio ForeXtra (a company making ingredients from forest biomass) in 2016.
Deanna Utroske, CosmeticsDesign.com Editor, covers beauty business news in the Americas region and publishes the weekly Indie Beauty Profile column, showcasing the inspiring work of entrepreneurs and innovative brands.