PARIS— Givaudan reported its third-quarter sales declined 1.1 percent to 1.09 billion Swiss francs, or $1.17 billion.
The Vernier, Switzerland-based fragrance and flavors supplier’s revenues gained 3.7 percent on a like-for-like basis in the period ended Sept. 30.
Givaudan said that in the third quarter volume growth in all markets was consistent with levels during the first half of the year and that pricing effects were negligible.
Its fragrance division’s sales retreated 1.3 percent to 532 million Swiss francs, or $570.9 million. Meanwhile, its flavors division’s revenues dipped 0.9 percent to 561 million euros, or $602.1 million.
Dollar figures are converted at average exchange for the period to which they refer.
In the first nine months of the year, Givaudan’s sales rose 2.7 percent to 3.318 billion Swiss francs, or $3.55 billion. On a like-for-like basis, they gained 5 percent.
The fragrance business was up 3 percent to 1.58 billion Swiss francs, or $1.69 billion. And the flavors segment registered sales of 1.739 billion Swiss francs, or $1.86 billion, an increase of 2.4 percent.
The firm reiterated its mid-term objectives of growing organically between 4.5 percent and 5.5 percent annually, assuming market growth of 2 percent to 3 percent, and continuing market-share gains.
“Givaudan expects to outgrow the underlying market and to continue to achieve its industry-leading EBITDA margin while improving its annual free cash flow to between 14 percent and 16 percent of sales by 2015,” the company said in a statement, adding it intends to return more than 60 percent of its free cash flow to shareholders while keeping a medium-term leverage ratio target under 25 percent.
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)
@heriethpaul and @gracebol have a moment on the @victoriassecret fashion show 2017. See every look from the runway on WWD.com. Link in bio. (📷: @giovanni_giannoni_photo) #wwdfashion #victoriassecret #VSFashionShow
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia