Keep pulling the thread on Gilles Andrier.
Givaudan's fine fragrance business has experienced double-digit growth over the last five years, largely fueled by demand from Gen Z and Gen Alpha consumers.
Givaudan is currently growing at an average of 15% in fine fragrances, with a 10% erosion rate and a 25% newness rate.
An estimated 40% of all perfumes sold globally were created by perfumers who trained at the Givaudan Perfumery School.
On average, Givaudan's fragrances account for 4-5% of a client's cost of goods sold, while its flavors account for only 0.5-0.6%.
Givaudan's Active Beauty division, which it entered eight to ten years ago, has grown into a 300 million [currency not specified] business.
Givaudan is the world leader in the flavors and fragrances industry.
According to Givaudan's clients, taste and smell are the key differentiating attributes that drive consumer repurchase decisions, ranking higher than packaging, advertising, or pricing.
The fragrance Angel by Mugler was a disruptive product that initially polarized consumers but became a long-term success, establishing the "gourmand" trend in perfumery.
Givaudan's proprietary molecule, Aki Gala Wood, has been the basis for numerous successful fine fragrances and has created a new market trend on its own.
In a typical fine fragrance market growing at 5%, there is approximately 25% new product introduction and 20% product erosion annually.
Givaudan develops taste modulators that mimic sweetness and saltiness or reduce bitterness, enabling clients to create healthier food products by reducing sugar, salt, and fat.
Givaudan retains the intellectual property for the flavor and fragrance formulas it develops for clients, as the initial development work is done for free.