Each group is to leverage its respective capabilities to bolster developments of new fragrance brands, concepts, experiences and models.
“China is projected to be the new frontier of the global fine fragrance market, with many local brands emerging and a significant increasing usage among consumers, especially with Gen Z,” said Jason Ju, a cofounder of Harmony.And that market is burgeoning. Over the next five years Mintel predicts China’s fragrance industry will grow at a compound annual rate of 17 percent, with market sales reaching 15.44 billion renminbi, or $2.43 billion, by 2025.
“We are honored to play a key role in propelling this growth with the synergies between Harmay and Firmenich,” continued Ju. “We hope this inspires even greater innovations and creations for the industry.” “Thanks to this strategic partnership with Harmay we are joining forces to incubate brands of tomorrow and leverage our mutual capabilities in consumer insights, digital, creativity and art of perfumery,” said Olivier Viejo, head of fine fragrance at Firmenich China. “This will pave the way for more growth in the fine fragrance industry both within China and globally.”
Firmenich in 2019 established an atelier in China that offered a business model specifically giving access to fine fragrance capabilities in one place for local and international customers. Then in September 2021, the supplier debuted its new Studio Guangzhou, which enables it to deliver a diverse range of benefits to a wider consumer base.
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