The fragrance industry is highly fragmented and there remain numerous information gaps regarding its current state. And so, Marcum LLP, an independent public accounting and advisory services firm,* has partnered with The Johnson School at Cornell University and Perfumer & Flavorist Magazine to conduct a survey that will become a central source of information relating to business trends and financial benchmarks for fragrance manufacturers.
Benefits of paticipation:
- Privacy and anonymity of respondents will be maintained
- Participants will receive collected data before the rest of the industry
- A select number of survey respondents will receive a $50 gift card to Amazon as a token of gratitude in supporting Cornell University research
This survey will collect information relevant to executives engaged in fragrance manufacturing, supply chain and distribution channels; analysts seeking a comprehensive source of data on the industry; and investors looking to enter the industry. Results will be published exclusively in the August 2011 edition of Perfumer & Flavorist magazine.
Marcum and Cornell are developing this survey with help from executives at key fragrance companies. The scope of the survey will include:
- Revenue by product group
- Research and development as a percentage of sales
- Customer concentration
- Number of perfumers employed
- And much more
Beginning in mid March, the survey will be sent to a select group of individuals in the industry; participant identification will be kept strictly confidential. (To be added to the distribution list, please send relevant contact information to Jeb Gleason-Allured; firstname.lastname@example.org.) Data submission will come due in mid April. The university’s role will be to provide objective thoughts on the project and to host the survey electronically, collect and tabulate data, and create a report that will be published in Perfumer & Flavorist magazine.
“We are very excited to embark on this journey with Cornell University,” says Kevin McGann, assurance partner at Marcum’s New York headquarters. “Cornell has a group of students who are willing and able to make this a success, and we hope to get the cooperation from many of the companies in the fragrance industry.”
*Marcum LLP is ranked amongst the top 15 firms in the nation by Inside Public Accounting, with more than 1,100 professionals, including more than 150 partners, in 23 offices through New York, New Jersey, Massachusetts, Connecticut, Pennsylvania, California, Florida, Grand Cayman, China and Hong Kong.