In spite of Covid-19’s impact on businesses in 2021, the fragrance and flavour company reported solid growth in every beauty market
Swiss fragrance and flavour business Givaudan has made a strong start to trading in 2021, with Fragrance and Beauty outperforming its Taste and Wellbeing category.
Beauty sales, including its health, personal care and Active Beauty segments, were up 9.9% on results from January to March the previous year.
Despite fine fragrance being heavily affected by the Covid-19 pandemic, the group reported a rebound of the category in the early months of 2021 with a 6.6% increase on 2020s results.
Meanwhile, consumer products sales saw an 11.4% surge with growth seen across all customer groups and markets worldwide.
Givaudan’s Taste and Wellbeing segments saw an uptick of almost 6% for the three months.
“I am very pleased with the strong start we have made to 2021, in what continues to be a very uncertain environment related to the Covid-19 pandemic,” said Givaudan’s CEO Gilles Andrier.
“We have seen continued strong demand across the parts of our business which are less impacted by the Covid-19 pandemic and improving conditions in the parts of our portfolio which have been more affected.
“Across the Givaudan organisation, I am proud of the way we have been able to adapt to the rapidly changing conditions, supporting our employees and our customers, and seizing opportunities to extend our market leadership.”
While Covid-19 continues to affect many countries across the world, particularly in areas of Europe, Givaudan has set its sights on a strategy beyond navigating coronavirus.
By 2025, the group intends to drive growth in its portfolio, extend customer reach and tailored market strategies.
As part of this approach and on the back of its strong start to 2021, Givaudan has completed the takeover of scent tech firm Myrissi.Announced in February, the acquisition will expand Givaudan’s capabilities in artificial intelligence, aiding in the supplier’s plan to expand its portfolio.