Firmenich expects continued strong demand for the rest of 2021 after the Swiss maker of scents including Ariana Grande's R.E.M, Calvin Klein's CK One and Yves Saint Laurent Black Opium reported accelerating sales growth.
Fragrance and flavor maker Givaudan said it was confident of delivering like-for-like sales growth of between 4% and 5% this year, within its mid-term target range, implying a slowdown from 5.8% growth last year.
Fragrance and flavour maker Givaudan said it was on track to deliver on its 2020 guidance after net profit rose 2.3% in the first half of 2019, with recent acquisitions boosting growth across its product segments.
The Austin, Texas-based fragrance company announced on Tuesday that it has closed its Series A with a total of $7 million in funding and completed the acquisition of clean beauty manufacturer Texas Beauty Labs.
According to an IBM project studying how to use AI for product – specifically perfume – composition, the skill that takes perfumers ten or more years to develop may be learned quicker and more precisely by AI.
International Flavors & Fragrances Inc agreed to buy Israeli flavours and ingredients maker Frutarom for $7.1 billion in cash and stock on Monday, vying for the industry's top spot with market leader Givaudan.