AFP
Nicola Mira
Jun 4, 2021
Swiss fragrance group Givaudan partners with Alibaba's Tmall
AFP
Nicola Mira
Jun 4, 2021
Swiss group Givaudan, the world's number one fragrance and aroma manufacturer, announced on Thursday a new partnership with Chinese e-commerce site Tmall, whose goal is to accelerate the perfume creation process by analysing consumer behaviour data.
In a press release, Givaudan said that this fine perfumery partnership with Tmall, which is owned by Chinese e-commerce giant Alibaba, involves the setting up of an innovation laboratory. The Swiss group underlined the high consumer demand for locally designed fragrances on the Chinese market.
“Access to Tmall's consumer data will allow us to stay ahead of trends and to design products for both existing and emerging brands very rapidly,” said Maurizio Volpi, president of Givaudan's Fragrance and Beauty Division, cited in the press release.
Through this partnership, the group is aiming to shorten its product development process. Givaudan indicated that the new laboratory will make it possible to cut the duration of the design process for fine perfumery products from 40 weeks to four.
“We have been monitoring the perfumery market’s development in China for 30 years,” said Yaling Li, in charge of fragrances for China and Korea, pointing out that “there is strong demand today for locally designed products.” Behavioural analysis allows for quick and easy development of trend-based products.
According to Givaudan, this “one of a kind” collaboration has already led to the creation of a new fragrance line inspired by a classic work of Chinese literature, ‘Journey the West’, including two eaux de parfum, a room fragrance and a series of hand and body creams.
Geneva-based Givaudan designs and produces fragrances for leading perfumery brands, as well as scents for personal care products and detergents, and also cosmetics ingredients. It is active in the aromas sector too, with US group IFF and German company Symrise among its major competitors.
Last year, Givaudan generated a revenue of CHF6.3 billion (€5.7 billion at current exchange rates). China is one of the group’s main growth drivers.
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