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MAY
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EUROFRAGANCE ENDS 2018 WITH €78M TURNOVER AND A STRONG PRESENCE IN ASIA-PACIFIC AND THE GULF OF MEXICO
EUROFRAGANCE ENDS 2018 WITH €78M TURNOVER AND A STRONG PRESENCE IN ASIA-PACIFIC AND THE GULF OF MEXICO

In Corporate
by Eurofragance

Eurofragance
 
Eurofragance ended 2018 with a turnover of €78 million, eight per cent more than the previous year. These figures confirm the success of the company’s growth strategy that includes strong, ongoing investment. In the last three years, the company has invested more than €10 million in improvements and modernisations to its installations and processes, as well as in geographic expansion. Among the most significant is the commissioning of the plant in Singapore, implementation of ERP-SAP in affiliates and investment in project management systems. According to CEO Laurent Mercier, “2018 has been essential for strengthening and optimising our processes in all affiliates to improve our customer services worldwide”.
Eurofragance has opted for geographical and business segment diversification as its main road to growth and has secured a strong position in the main markets: Gulf of Mexico and Asia-Pacific. Eurofragance has grown not only in mature markets like Spain, where earnings increased by 6%, but also in newer markets like the United States, where it has gained a foothold by acquiring a majority shareholding in Fragrance Design LLC (Atlanta) in 2017, where it also grew by 29%.
In the Household and Oriental segments, earnings increased by 74% and 22%, respectively, with innovative, creative products designed to appeal specifically to each client, offering great added value. Mercier, the main driving force behind the transformation of Eurofragance, says that "the goal is to continue with the 2020 strategic plan, focused on Eurofragance's growth and profitability".
At the same time, Eurofragance continues to invest in talent, with a workforce of 24 nationalities that increased from 280 to 340 employees in 2018.