Givaudan Expands Perfumery School
PARIS — Vernier, Switzerland-based Givaudan has expanded its 60-year-old perfumery school, called the Ecole de Parfumerie.
Based in the firm’s Argenteuil, France, offices, the facility now spreads over 5,380 square feet, compared with the previous 2,150-square-foot space.
Givaudan chief executive officer Gilles Andrier, who succeeded Juerg Witmer in the post in April, claims the firm is the only fragrance supplier with its own school.
One in three of the world’s perfumers have been trained on the campus, according to Givaudan, including grands nez (great nose) Jacques Polge of Chanel and Pierre Bourdon of Fragrance Resources.
Givaudan’s school annually admits two or three students from a pool of more than 200 applicants. The three-year training program includes memorizing more than 1,200 olfactive ingredients. And, at the end of the course, students create a men’s and a women’s fragrance, and are trained how to market those scents to prospective brands.
Graduates then either join Givaudan’s 5,000-strong workforce, which comprises 70 perfumers, or go on to become perfumers elsewhere. In addition to training future noses, the perfumery school offers workshops for its clients.
Givaudan also opened a training center in New York early this year. Jean Guichard, director of the company’s French perfumery school, regularly visits the New York center to provide similar workshops there.
— Ellen Groves
Beiersdorf Earnings Rise
BERLIN — Beiersdorf had another strong quarter.
Operating earnings for the Hamburg, Germany-based group’s branded consumer division rose 11.9 percent for the third quarter to 113 million euros, or $135.4 million at average exchange rates. Sales for the division rose 5.5 percent to 964 million euros, or $1.16 billion, for the quarter ended Sept. 30.
The branded consumer division includes the skin care brands Nivea, Eucerin, La Prairie, Juvena, Marlies Möller, Labello, Florena and others, as well as bandages under the Hansaplast, Curad, Curitas and Elastoplast names.
Third-quarter net profit for the group, which also includes the Tesa adhesives division, rose to 87 million euros, or $104.3 million, up from 79 million euros, or $94.7 million, in the same period last year.
Beiersdorf is looking to close the year at record levels. For 2005, the group is projecting sales of the consumer division to exceed 4 billion euros, or $4.7 billion at current exchange, for the first time. This would represent a sales increase of about 4 percent.
Earnings before interest and taxes for the group also is expected to reach a new watermark of over 500 million euros, or $588.5 million, for the first time, with the EBIT margin increasing to about 11 percent, up from 10.6 percent last year.
Return on sales after tax is forecast at around 7 percent, up from 6.6 percent. However, group sales, adjusted for currency effects, are now expected to grow between 3.5 and 4 percent. The previous forecast called for currency adjusted sales growth of 4.5 percent.
Regarding the lower forecast, a company spokesman said, “The markets are very stagnant, and we want to maintain our margins rather than just generate turnover. We earned more than planned, and as a company, we prefer to be cautious.”
— Melissa Drier
Levy Named Global Sephora Head
PARIS — Jacques Levy has been appointed president of Sephora Worldwide. He replaces Pierre Letzelter, who has retired but remains an adviser to Bernard Arnault, chief of LVMH Moët Hennessy Louis Vuitton, which owns the Sephora perfumery chain. Since 2003, Levy has held the position of president of Sephora Europe, a job in which he also oversaw the perfumery chain’s operations in Asia.