Most Popular in:
Frutarom’s Aggressive Strategy; Belmay Focuses on Fragrance
Posted: April 3, 2007
page 3 of 3
Back to basics: A part of Belmay’s plan to refocus and reinvigorate the fragrance business is to invest in the basics, such as the computer systems and employees. “We are trying to really update our computers and automations, in order to allow our global perfumers and evaluators to become faster and more efficient through these systems,” says Son. “This will free up time for them [perfumers] to focus on more experimental projects and become more creative. Also, Ted promised that he is going to invest in human resources. This isn’t just in more people but in people with more experience.”
In addition, Belmay continues to focus on its proprietary technology—the key to its success when going head-to-head with major fragrance players such as IFF or Firmenich. The company has put money into Hong Kong University to investigate nanotechnology and works with scientists at Columbia University to help figure out the next big thing in fragrance technology.
Future strategies: So, with this new solid foundation, what is in store for Belmay’s future? As a privately-held company, Belmay has the luxury of focusing on long-term strategy and not necessarily worrying about the quarter’s profits. Acquisitions are looked at as a means to grow the company long term. The acquisition of the Independent Fragrance Co. in 2003 gave Belmay a presence in Asia, where they now have a manufacturing facility and offices. When it comes down to it, “our strategy has been very simple,” explains Son. “We really pay attention to our legacy business—that’s the business that we currently have…and we aim to grow above average organically.”