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Industry overview Insight: Fragrance creation credit: istock n n n fashion. Consumers in countries we are seeing in the Middle East and Swiss fragrance house Firmenich signed like China relate to fragrance in a very Latin America,” he tells BW Confdential. a joint venture with Indian foral extract personal way that we no longer see in Givaudan’s Carlos adds: ”I think usage supplier Jasmine Concrete Exports, which Western markets,” comments Symrise among Chinese consumers is still very low specializes in natural ingredients such as senior vice president global fne fragrance and consumers are more attracted to brand jasmine and tuberose, in a move to further Béatrice Mouleyre. names than to the true value of fragrance.” strengthen its naturals’ offer. Others are less optimistic, at least in the He also points out that while there are local Industry watchers say the market is poised short-term. “Asia isn’t taking off simply brands in the market, they account for a to see more such ventures or outright because there isn’t a love of fragrance in small fraction of the category. acquisitions, as fragrance houses move to the region. Chanel may be selling in China, secure their supply of natural ingredients. but there are no local brands. Asia is still a Niche is seen as a last ”Controlling supply will be very important region that is predominately dedicated to in the years to come. If you want to be household and personal care,” comments reserve of creativity in strong in naturals, you have to invest in one industry executive. However, this an increasingly me-too creating strong partnerships with growers. differs slightly when it comes to markets fragrance market A lot of fragrance houses are now looking like India, which is known for its strong at this aspect of the business,” notes fragrance heritage. Givaudan’s Carlos. Olivier de Lisle, senior vice president Givaudan signed a joint venture with fne fragrance worldwide Firmenich, says Chinese aroma-chemical manufacturer New markets, new inspirations consumers in southeast Asia and in China Xinhua Chemical Company to reinforce its Developing markets are impacting are at the “starting point” when it comes presence in the market and meet growing fragrance houses’ creative output, as to fne fragrance consumption. “There demand in Asia, but this business is perfumers work more with their colleagues is still a lot of copying going on from focused on chemicals for the household abroad, thanks to technology that allows local players and while some brands are care industry. them to share and collaborate on formulas. starting to dabble in fne fragrance, it’s Also in terms of deals with local “There is an interesting interconnectedness a far cry from the levels of development companies in the region, earlier this year, between the more traditional markets 30 September-October 2014 - N°19 - BW Confidential