SAVORY SALES: Swiss flavors and fragrances supplier Givaudan posted nine-month sales of $1.38 billion, up 16.4 percent in local currencies and 10.1 percent in Swiss Francs year-on-year. Dollar figures were converted from the Swiss franc at current exchange rates. Since May, Givaudan has consolidated sales from its FIS flavors business, which was acquired from Nestle. By division, Givaudan’s fragrance sales were $579.1 million, down 1 percent in Swiss francs and up 3.4 percent in local currencies. The firm’s flavors division posted volume of $802 million, up 19.8 percent in Swiss francs and 27.7 percent in local currencies. "Barring unforeseen events, Givaudan expects good results for the full-year 2002," the company said in a statement.

MARIONNAUD GROWTH: Marionnaud Parfumeries, France’s largest perfumery chain, announced third-quarter sales of $251.8 million, up 40.7 percent over the same period in 2001. Dollar figures were converted from the euro at current exchange rates. At similar group structure and constant exchange rates, growth would have been 10.5 percent. For the nine-month period ended at the end of September, the perfumery chain’s sales were up 33.1 percent to $727 million. "Our European expansion strategy is a success, and we are proving that our model can be replicated outside France," said Marcel Frydman, the group’s chief executive officer, in a statement. Marionnaud’s stock closed Thursday at $34.50, down 5.38 percent. The chain has 1,152 perfumery doors, with 548 in France, 154 in Spain, 132 in Italy, 115 in Switzerland, 108 in Eastern Europe, 87 in Austria, seven in Portugal and one in Tunisia.

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus