Eurofragrance reports 9% growth on the back of expansion initiatives

By

Elena Campos Valladares

Published
Feb 10, 2017

Eurofragrance, the Spanish company specialising in fragrance creation and design, increased revenue by 9% to €68.8 million in 2016, supported by significant growth in sales in its areas of expansion such as Asia Pacific and the Americas.

Last year Eurofragrance made a significant investment, including €3.5 million capex in a new factory in Singapore and extra production capacity at an existing centre in Mexico to enable its international expansion and boost sales.

In terms of categories, Household was the star performer achieving growth of 56% in 2016. The ‘Home Care’ category is seen by the company as an opportunity for growth, while the Fine Fragrances segment, Eurofragrance’s core business, rose 15% year-on-year.

The perfume company placed last year a particular focus on the development of new formats and products, a strategy it said it plans to maintain as it offers added value to customers. As part of this innovation drive, it recruited more staff for its four creative centres and three production plants, increasing the total workforce by 14.4% to 254 employees worldwide.

The family-owned business was founded in Spain in 1990. In addition to fragrances, it designs and produces personal and home care products.

Eurofragrance has a presence in more than 60 countries, with affiliates in Turkey, Mexico, Dubai and Singapore.  The manufacturing and distribution plans are located in Barcelona, Mexico, Singapore and the Philippines,