Firmenich Invests in China’s Fragrance Evolution

by swisschambei in Hospitality / Tourism / Retail

Swiss fragrance giant sets up workshop in Shanghai as the industry’s ‘under-exploited’ market scale approaches USD 3.28 billion. he world’s largest privately-owned fragrance and taste company, Firmenich, has launched a fine fragrance workshop in downtown Shanghai by offering dedicated models that provide easy access to all fragrance capabilities under one roof, China Daily reported. The firm expects the workshop to bring it closer to the world’s fastest growing but under exploited fragrance market. As the world’s second largest economy, China saw the fine fragrance market increase 15% last year, according to data from Euromonitor International. “Fragrance consumers in China are expanding rapidly from women to both men and women, and the market scale is projected to reach 23.3 billion yuan (USD 3.28 billion),” said Cai Zhihao, a researcher with the Shenzhen-based Qianzhan Industry Research Institute, the report said.

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