We're taking a look back at what consumers were most interested in reading throughout July 2024 in the fragrance headlines. The top 5 fragrance headlines ranged from corporate restructuring and sales reports to interactive scent exhibits and consumer trends in home care and purchasing.
1. Eurofragance CEO Restructures Management Team to Achieve 2024-2027 Goals
Eurofragance has announced a restructuring of its management team by appointing Clara Mena to the position of chief operations officer (COO) and creating two new positions: chief market officer (CMO), held by Joan Pere Jiménez, and chief business development officer, held by Olegario Monegal.
Mena’s role as the new COO is said to be crucial in strengthening the supply chain and operations to meet growing global demand and maintaining the high level of customer service for which Eurofragance is renowned.
"Over her ten years at Eurofragance, she has acquired extensive experience across Supply Chain Management and Operations, making her the natural choice for this strategic position," explained CEO Laurent Mercier.
2. TikTok is Driving Gen Z Consumers to Become More Engaged in Fragrance
Gen Z consumers are becoming more engaged in fragrance, with TikTok driving 66% of their fragrance purchases, according to Circana.
There has reportedly been a spike in fragrance-related content on the social media platform, which has driven interest in the segment by Gen Z users.
Jacquelyn Wenskus, director, fragrance category analyst at Circana, said, "Gen Z is more inclined to try new scents and mix and match depending on their mood or vibe. To capture this younger consumer, brands must fully encapsulate a mood, going beyond the scent itself and extending into how the brand is positioned, the imagery, the bottle or packaging, etc. All of these components must be very cohesive and strong to effectively evoke the desired feeling."
According to Circana's 2023 Consumer Fragrance Study, 73% of Gen Z wear fragrance at least three times per week, which is up +5 percentage points compared to the prior year.
3. Givaudan 2024 Half Year Sales Results Show 12.5% Increase
Givaudan reported CHF 3,737 million in sales for the first six months of 2024, an increase of 12.5% on a like-for-like (LFL) basis and 5.7% in Swiss francs. The company states that strong growth was achieved across all product segments, geographies and customer groups, with the high-growth markets growing at 20.5% on a LFL basis and the mature markets growing at 6.0% LFL. Givaudan also reported a net income of CHF 588 million, an increase of 30.9% over 2023.
4. My Interactive, Multi-sensorial Experience at dsm-firmenich's Mind Nose + Matter Exhibition
In mid-May 2024, I hopped on the PATH train to travel from New Jersey to New York City to visit the offices of dsm-firmenich for its Mind Nose + Matter 'Momentum' exhibition. The immersive, interactive exhibit explored new scents created by dsm-firmenich perfumers through consumer insights from the company's study on "Magic Moments" and socio-cultural trends.
Magic Moments is a proprietary model that explores and crystallizes cultural and personal differences regarding perfume within different moments of life. The study is said to reveal untapped life moments where fragrance can play a significant role. According to the study, 82% of fragrance buyers prioritize scent, its quality and uniqueness, over packaging, branding or merchandising activities.
5. Neostalgia Leads Top 3 Home Care Trends for Summer 2024 According to Scentmate by dsm-firmenich
Scentmate by dsm-firmenich, an AI-enabled platform designed to streamline and simplify fragrance co-creation for entrepreneurs and independent brands, revealed three home care trends for this summer 2024. These trends are based on global consumer preferences, with the concept of "neostalgia" topping the charts. Take a look at the top three trending concepts for home care and the matching scents.
