PARIS — Swiss fragrance supplier Firmenich and Indian floral extracts maker Jasmine Concrete Exports PVT Ltd. have signed a joint-venture agreement.
Jasmine Concrete Exports, based in Chennai, has two manufacturing units in Tamil Nadu. The company has for more than 15 years extracted Indian flowers, especially jasmine, sambac and tuberose.
“This joint venture is a major achievement for our integrated sourcing model and is the perfect compliment to the capabilities and strategy of our natural innovation center in Grasse, [France],” said Patrick Firmenich, chief executive officer of Firmenich, in a statement. “This partnership significantly increases our leadership in naturals for the fragrance, flavors and cosmetics industry.”
“Within the fine fragrance category, which is always looking for beauty, quality and authenticity, naturals are more important than ever,” stated Armand de Villoutreys, president of Firmenich’s perfumery division. “With more Indian ingredients in our portfolio, we are looking forward to inspiring our perfumers and, in turn, positively impacting our clients, who are continuously seeking value-adding materials with great stories and genuine sustainability.”
The partnership will allow Jasmine Concrete Exports to develop new areas of natural products in India, according to Raja Palaniswamy, the company’s director.