Eurofragance names Laurent Mercier its new CEO
Effective from early January, Mercier has taken on the role of general manager and CEO, taking a place on the Barcelona-headquartered company’s board of directors.
Mercier replaces Eurofragance Founding Partner and CEO Santiago Sabatés, who led company since it was created in 1990.
Sabatés is now President of Eurofragance, and will focus on strategic functions, representing the company and chairing meetings of the Board of Directors.
“Mercier has been the main driving force behind the transformation of Eurofragance, and in his new position he will implement the 2020 strategic plan to boost the company's growth and profitability,” the company states.
Mercier joined Eurofragance as global business director in 2013, and has played a key role in its business diversification and international expansion strategy.
Fragrance market: the latest
According to recent data from market research provider Euromonitor International, across Western Europe, the fragrance market shrunk slightly in retail value RSP from 13,318.2 million USD in 2015 to 13,233.1 million USD in 2016.
Chanel remains the market leader when it comes to individual brand names, with 6.4% market share, followed by Christian Dior, Paco Rabanne, Hugo Boss and Calvin Klein (the top five position holders in descending order).
As far as companies, Coty Inc takes first position in the league table, followed by L’Oréal Group, LVMH, Puig SL and Chanel SA (again, top five in descending order).
Eurofragance: a profile
The European fragrance player, a key company in the space, is active in perfumery, personal care and home care.
Operational since 1990, it creates and supplies fragrances to these industries. It has a local presence in over 60 countries, selling its products across five continents.
Its operations include affiliates in Turkey, Mexico, Dubai and Singapore, and production plants in Barcelona, Singapore and Mexico City.
In 2016, the company invoiced 68.8 million euros and currently employs 254 professionals.
