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Eurofragance enjoys strong 2016 performance

By Lucy Whitehouse + , 14-Feb-2017

Eurofragance enjoys strong 2016 performance

The Spain-based fragrance player has enjoyed growth of 9%, reaching a turnover of EUR 68.8 million in 2016.

The company specialises in fragrance design and manufacture, and states that it achieved its growth through its strategy of expansion in key regions.

The company boosted sales in Asia Pacific and in America, geographical areas where it is making heavy investments,” the company states.

Eurofragance has just opened a new factory in Singapore and ramped up production capacity at its plant in Mexico, and notes that to facilitate this, it has made ‘large-scale investments’, with a total CAPEX amounting to EUR 3.5 million.

Eurofragance has local presence in more than 60 countries and retails on five continents, with affiliates in Turkey, Mexico, Dubai and Singapore.

Fine fragrance and home care

According to Eurofragance, its core business of fine fragrances is performing well, having enjoyed growth of 15% in 2016.

It also has its operations in the household market to thank for good performance, with that division growing by 56% and the company noting that looking ahead, home care offers an opportunity for growth.

Innovation in focus

The fragrance player notes that, going forward, it will maintain an emphasis on R&D, and look to build on its expansion in this area.

“R&D continues to have an essential role in the development of Eurofragance. That is why the firm has been working on new formats and products that offer higher added value to customers, a strategy the company intends to maintain,” it confirmed in a statement.

“In this regard, Eurofragance has increased the workforce by 14.4% to 254 employees, recruiting qualified staff for its four Creative Centres and its three production plants.”

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