Givaudan’s Sales Dip 3.9 Percent

Revenues at Swiss firm rose 0.4 percent in local currencies.

PARIS — Givaudan SA said sales in the first nine months of 2009 dipped 3.9 percent year-over-year to 3.03 billion Swiss francs, or $2.74 billion at average exchange for the period.

This story first appeared in the October 12, 2009 issue of WWD.  Subscribe Today.

In local currencies, the Swiss flavors and fragrances firm’s revenues rose 0.4 percent. Minus the effects of a divested business in its flavors division, Givaudan’s gain in local currencies was 0.6 percent.

The company’s fragrance division posted nine-month revenues of 1.39 billion Swiss francs, or $1.26 billion, down 5.1 percent. All of the division’s businesses registered positive growth in the third quarter, the company said.

Givaudan added its fine fragrance sales continued picking up, “slightly above a strong comparable for the third quarter of 2008.” Activity in Latin America and the Asia-Pacific region continued generating double-digit gains, while sales in Europe and North America “improved,” according to the firm.

Givaudan’s consumer products activities maintained a double-digit revenue increase in developing markets and had a decrease in sales in mature markets during the first nine months of 2009.

Fragrance ingredients’ revenues declined in the period, although the business’ revenues rose in the single digits in the third quarter, thanks to the end of destocking and a recovery of sales, particularly of specialty ingredients.

Givaudan’s flavor division, meanwhile, in the nine months rang up revenues of 1.64 billion euros, or $1.48 billion, down 2.9 percent on-year.

The company reiterated its goal of saving 200 million Swiss francs, or $193.9 million at current exchange, and reaching an earnings before interest, taxes, depreciation and amortization margin level of 22.7 percent by 2010.

PARIS — Parfums Issey Miyake has created 2,000 fragrance bottles whose design was inspired by a drawing Ettore Sottsass made in 1997.

Miyake himself had asked the Italian designer to create a flaçon for the brand — which is part of Shiseido’s Beauté Prestige International — but the dream could not become reality due to technical difficulties. Then, Sottsass passed away in December 2007. In homage to him and in keeping with his original design, the limited edition L’Issey Miyake bottles are made primarily of handblown glass.

Only a few sales points will sell the flaçons. In France, for instance, 50 pieces will be carried starting on Oct. 15 in Galeries Lafayette’s flagship in Paris and Issey Miyake’s store on the city’s Rue Royale. Each 100-ml. eau de parfum bottle will retail for approximately 300 euros, or $436.40 at current exchange.