Eurofragance grows unprecedentedly in 2024. With a 27% increase in sales, amounting to 180 million euros in comparable terms to the previous year, the company continues to consolidate its firm upward trajectory year after year.
This performance highlights Eurofragance's strategic approach and its commitment to excellence in all regions and across all product categories. "Reaching 180 million euros in sales is a result of our initiatives and the dedication of our teams. The contribution of each region has been fundamental in achieving these results, and our budgetary discipline, along with focused strategies, will continue to drive our success," says Juan Ramón López Gil, the company's financial director.
Widespread Expansion Across All Categories and Regions
Eurofragance's results were stimulated by a solid performance in key regions and product categories. All regions experienced significant growth, with an increase ranging from 19% in the EAT region to 30% in the EMEA region. Joan Pere Jiménez, the company's market director, adds in this regard: "We are capitalizing on the rapid development of dynamic markets such as the United Arab Emirates and Saudi Arabia. The latter continues to expand with substantial investments in beauty retail. We also benefit from positive market trends in India, Indonesia, and Turkey, where the increase in personal income is stimulating demand."
The multinational's diverse range of products has also contributed to consolidating significant gains. The fine perfumery category experienced a 28% boom, while the home care and personal care sectors registered a 20% increase. This cross-cutting development among categories underscores Eurofragance's ability to meet the demand of its customers in their expansion, offering them the right fragrances to enhance the growth of their brands.
Expansion Driven by Strategic Investments and Innovations
In 2024, Eurofragance continued to invest in strategic initiatives to foster its growth. The company inaugurated a new creative center in Bombay, which reinforces its position in the rapidly growing Indian market. The expansion of the fragrance house and its optimism for the future are also reflected in its commitment to talent. Thanks to new hires in all its subsidiaries and substantial investments in its professional development academies and its talent management program, Eurofragance's staff grew by 15% in 2024.
The Spanish fragrance house also launched Euphorion™, its first synthetic addition to the ICON program's collection of captives. It is a perfumery ingredient that offers a new interpretation of freshness in the perfumer's palette. Laurent Mercier, CEO of Eurofragance for seven years, has played a fundamental role in the company's rapid development and its foray into the design of patented perfumery ingredients. "Our disciplined approach to growth and strategic investments in key areas have allowed us to maintain our reputation as leaders in the perfume industry. The strategies we implement will ensure continued expansion, and our commitment to innovation will continue to be the engine of our success for years to come," declares Mercier.
Unwavering Commitment to People and the Planet
Eurofragance remained firm in its commitment to sustainability, which led the company to achieve the highest recognition from EcoVadis, the platinum medal. The company's contribution to society was and continues to be evident thanks to its participation in programs such as "Empowering Women's Talent" and "Diversity Leading Company", both organized by Equipos&Talento, the reference media in Spain for human resources. Likewise, Eurofragance collaborated with the Hospital Sant Joan de Déu Barcelona and the dermocosmetic laboratory MartiDerm in a solution for fish odor syndrome, which received the silver medal at the VPC Green Beauty Awards.
Eurofragance's performance in 2024 reflects its strategic vision, its innovative spirit, and its commitment to people, sustainability, and society. With its sights set on the future, the company remains committed to driving its growth and delivering value to its customers and shareholders.