Eurofragance ended its most recent financial year with a EUR 72 million turnover, which is 5% up year on year.
The Spain-headquartered company is set to continue its ongoing investment plan as a result of these figures, according to its new CEO, Laurent Mercier.
“The goal is to continue with the 2020 strategic plan, focused on Eurofragance's growth and profitability,” he confirms.
In its Personal Care segments, Eurofragance grew by 22% in the last financial year.
Optimising plants, investment in Mexico
According to Eurofragance, the company’s CAPEX for 2017 was almost €3 million.
This was used to optimising the Singapore and Barcelona plants, SAP implementation in Mexico and new warehouse coding systems.
The company enjoyed 27% higher sales in the Asian Pacific area and 32% in Turkey.
It also achieved growth in mature markets like Europe and Spain, where figures are up by 17% and 18%, respectively.
“Eurofragance has opted for the geographical and business segment diversification as its main road to growth,” the company states.
“These figures confirm that the company is on the right track with a growth strategy that will include further strong investments.”
Eurofragance has started expanding in new markets, and is set to continue in this vein.
One key example from the last financial year was its move into the United States market, where it acquired a majority stake in Fragrance Design LLC, an Atlanta-based company, a transaction that will be complete in 2018.
The company suggests its “innovative, creative products designed to appeal specifically to each client, providing great added value” is a key factor in its successes so far.