Givaudan: Splashing Out on Scents
Users of Paco Rabanne, Prada and Opium aftershave and perfumes may now pause for thought as they splash on the latest scents.
Thanks to the ongoing surge in ingredients like orange oil and turpentine, the price is probably going up.
Givaudan S.A, the world’s largest producer of fragrance in addition to being a food flavoring manufacturer, said Friday it is responding by increasing the prices for the products it makes—including the perfumes mentioned above.
Ingredients like geranium and patchouli are spiraling up in price as climate change plays havoc with their growing patterns and harvest, and political unrest tightens some of the supply.
With prices of some expected to double this year, Swiss-based Givaudan says it is being forced to take action to protect its margins.
But will this affect orders?
Not really on the fragrance front, as these are luxury products after all. Givaudan said it is confident in its ability to pass on the price increases.
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