The beauty industry has lots of background powerhouses with little name recognition for most people. Firmenich is a good case in point. The Swiss-based multinational is the largest privately owned fragrance and flavours supplier in the world and its client list includes L’Oréal, Coty and Procter & Gamble.
The company employs some of the world’s most successful and renowned perfumers, whose names are well-known to any journalist writing about past and current global perfume bestsellers. We’re talking Alberto Morillas, Honorine Blanc, Olivier Cresp, Nathalie Lorson, Fabrice Pellegrin and more.
The creative geniuses behind such worldwide hits as Gucci Bloom, Acqua di Gio, YSL Mon Paris, Boss Bottled, Coach Wild Rose and Valentino Voce Vita.
The fragrance industry climbed back strongly in 2022 following the lifting of Covid-19 restrictions worldwide. Firmenich’s sales reflected the upswing with a 10.5 per cent rise in revenues for the first half of its financial year to US$2.65 billion (AUD$3.84 billion).
This is the second consecutive calendar year that Firmenich is growing its business organically in double digits, says Gilbert Ghostine, CEO of Firmenich.
In the six months to December 31st, sales at Firmenich’s perfumes and ingredients division rose 9.1 per cent, largely fueled by fine fragrance revenues which jumped 20.2 per cent.
The 127-year-old company is also a leader in raising the bar concerning sustainability and environmental practices in the perfume and flavours industry. Together with L’Oréal and LVMH, Firmenich is one of only 12 companies out of 15,000 scored to be awarded a Triple A rating by the CPD, the largest environmental data base in the world.
This latest round of financial results from Firmenich are the last before the company merges with DSM, the Dutch-based health and nutrition company. A team-up that will leverage Firmenich’s expertise and world-class science in the fragrances and flavours sector with DSM’s leadership in health and nutrition across 50 countries worldwide.
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