Perfume maker Firmenich smells success for fine fragrance in 2021

By Becky Bargh | 9-Aug-2021

Fine fragrance was the privately-held business’ best performing category, outdoing all other divisions

Swiss fragrance manufacturer Firmenich is basking in the throes of success after a positive start to 2021.

The maker of Calvin Klein’s CK One and Yves Saint Laurent’s Black Opium perfumes saw a significant rebound in sales during the second half of its full year results ended 30 June 2021.

The privately-held flavours and fragrance firm, which counts Givaudan and Symrise among its competitors, reported revenues of CHF4.2bn, representing an almost 5% year-on-year increase.

Including acquisitions, the maker of Bulgari and Valentino scents recorded an almost 17% boost in revenue.

Fine fragrance was the group’s most successful category in the second half of the year, which saw 39% sales growth.

“Firmenich achieved solid performance in a challenging year, demonstrating the strength of our business,” said Patrick Firmenich, Chairman of the family-owned company’s Board.

“I am proud and thankful for the dedication and commitment of our people that delivered these results.

“Throughout the year, we have continued to invest to position ourselves for the future, and I believe we are well placed to capture the opportunities that will arise after the crisis.”

He continued: “We delivered strong revenue growth and cash generation across the business, with double-digit growth in the key geographies of North America, China and India.

“We continued to make progress on the integration of our acquisitions and accelerated our innovation to help our customers win bigger in the post-pandemic world.”

During the financial year, Firmenich adjusted earnings were down 5% compared with last year to 816m francs, excluding the impact of acquisitions.

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