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Thursday, May 30, 2024

Eurofragance’s gross sales elevated by greater than 20% in 2023

The Barcelona-headquartered perfume maker closed 2023 with gross sales of EUR 146 million, up greater than 20% over 2022 on a like-for-like foundation. All classes — positive perfume, private care, air care and residential care — and all areas the place the corporate operates skilled wholesome progress. Robust progress was achieved in prime international locations such because the UAE, Saudi Arabia and Europe, which helped Eurofragance efficiently attain its 2023 targets. India and Indonesia additionally contributed to those constructive outcomes.

Every of our 4 predominant areas, IMEA, Asia Pacific, Europe and Turkey, together with Latam, performed a big position in achieving distinctive outcomes by the top of 2023. Notably, elevated gross sales within the strategically essential Gulf area space had a considerable affect on our outcomes,” stated Juan Ramón López Gil, CFO of Eurofragance.

Laurent Mercier, CEO, Eurofragance

On the finish of 2022, the perfume home had introduced the acquisition of PT Euronindo Perfume in Indonesia. After having reassessed its operational presence in key strategic markets, Eurofragance stated they aimed to bolster their presence within the APAC area. In parallel, the corporate had divested itself from the U.S. market.

AI and Cybersecurity

The nice outcomes of 2023 come from a technique carried by way of over a number of years, which has allowed us to focus each regionally and regionally to find out the place to wager and compete in new product classes, which symbolize new alternatives for us. And at the moment, as we embark on a brand new strategic plan, we’re emboldened to make organizational changes and reinvest a few of our positive factors in strategic tasks that may guarantee the corporate’s continued progress,” provides Eurofragance’s CEO Laurent Mercier.

Eurofragance thus intends to proceed its dedication to innovation and to maintain on strengthening alliances with strategic AI companions to help processes, programs, fragrance-related applied sciences and new methods of working.

At present, the corporate has two main initiatives in Synthetic Intelligence to innovate in perfume improvement, each of which require a big stage of assets. The primary one, introduced final yr, is the collaboration with the French green-bio-deep-tech firm Alphanosos with the goal to uncover new unique applied sciences to handle disagreeable odors. And the second main venture is to be revealed later in 2024.

As well as, the perfume home has strengthened its group when it comes to cybersecurity to mitigate dangers and has developed a cybersecurity tradition plan to lift worker consciousness on this matter.

Ultimately, Eurofragance has simply been acknowledged with EcoVadis’ Platinum medal, the best potential recognition from the supplier of enterprise sustainability rankings. “This current accomplishment encourages the corporate to push forwards with its sustainability agenda,” concluded Eurofragance in a press release.

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