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Leading up to the start of the 8th World Perfumery Congress in Cannes, France, which is now in full swing, P&Fnow spoke to industry experts presenting at the event. Here, P&Fnow chats with Gilles Andrier, CEO of Givaudan, who spoke this morning (June 6) at the WPC about “The Noses of Tomorrow.”
P&Fnow: In your opinion, where does the fragrance industry stand in 2007?
Andrier: For Givaudan, the past two years have shown strong growth in our fragrance business. In 2006, our fragrance business unit showed the best growth in the history of Givaudan, with sales advancing 8.2% in Swiss Francs. However, this has not been the case for the underlying market, which we estimated grew 2–3% in the same period. Thus, in 2007 the overall fragrance industry continues to face very different markets, with fast growth stemming from the emerging markets and more stagnant sales momentum in some of the more mature markets.
This means that we have to understand what the consumer wants and to deliver products that are successful with end consumers. This will be as important for the fragrance industry in 2007 as it has been in the past.
Innovation continues to play a key role and is the driver for the fragrance industry going forward. To be successful in these diverse markets and to be successful with the more educated and savvier consumer, you really need to be a leader in this industry. This is not only meant in terms of size, but more importantly, by being able to develop and deliver the innovative and unique products that will be successful in the end.