Givaudan’s new fragrance and flavour site is focussing on Muslim customers
Givaudan’s new fragrance and flavour centre in Jakarta will be more focussed on Islamic preferences, the company has confirmed. According to a 2010 study, more than 22% of the world’s population is Muslim (at the time: 1.5 billion people). A Pew Research Centre study added, five years later, that there are 50 countries in the world that are Muslim-majority. The Islamic world, then, cannot be ignored by anyone with a grasp of demographics or geography. The new centre is a 2,600 square-metre complex which will build on Givaudan’s existing premises in Jakarta.
Givaudan’s share price has risen by 8% year to date
Source: Yahoo Finance
Reggie Costillas, Givaudan’s commercial director for fragrance in Indonesia, said: “Prior to the recent opening of the new commercial and development centre in Jakarta, the fragrance division had limited facilities. Now, with more space and outfitted with the most modern and state-of-the-art fragrance capabilities, such as evaluation booths and a hair salon, our teams and customers are able to develop and test perfumes for consumers to enjoy.”
Speaking to the advantage of having the centre in Muslim-centric Jakarta (around 90% of Indonesians are Muslim), Costillas said: “We use these learnings in the development process to create winning consumer-preferred fragrances. These interactions with consumers help us to jointly craft holistic solutions and concepts to answer specific needs such as shampoos for hijab users.”
Givaudan said that almost half its growth stems from Asia, and Indonesia is a particularly important market, given that it is one of the region’s fastest growing markets.
Dominion holds Givaudan in its Global Trends Managed Fund.
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