Firmenich signs a strategic partnership agreement with HARMAY in China

Collaboration Brings Increased Value to Fine Fragrance Category

GENEVA, January 18, 2022 /PRNewswire/ — Firmenich, the world’s largest privately held fragrance and flavor company, is proud to announce a new strategic partnership with HARMAY, a new leading retail brand in China. As part of this agreement, Firmenich and HARMAY will join forces to contribute to the development of the Fine Fragrance category by China, drawing on their respective capabilities to support the development of new brands, concepts, experiences and fragrance models.

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“As a global leader in fine fragrance, Firmenich is focused on transforming this industry and creating trends to future-proof the business,” said Ilaria Resta, President, Global Perfumery, Firmenich. “After more than 30 years of successful operations in China, this partnership with HARMAY represents a significant improvement in our capabilities in China and reinforces our ambitions as a partner of choice in the Chinese market.”

Founded in 2008, HARMAY is China world’s leading beauty collections store, a new aesthetic warehouse-based retail brand with a strong Gen Z customer base. The brand has become synonymous with art and culture in China by offering premium beauty, skincare, fragrance and lifestyle products through its online and offline stores. All of its offline stores feature innovative designs and have won a loyal following for their unique consumer experience.

China is expected to be the new frontier of the global fine fragrance market, with many local brands emerging and a significant increase in usage among consumers, especially with Gen Z. We are honored to play a key role in propelling of this growth thanks to the synergies between HARMAY and Firmenich”, added Jason Ju, Co-founder, HARMAY. “We hope this will inspire even more innovation and creation for the industry.”

“Through this strategic partnership with HARMAY, we are joining forces to incubate the brands of tomorrow and leverage our mutual capabilities in consumer insights, digital, creativity and the art of perfumery,” added Olivier Viejo, Head of Fine Fragrance, Firmenich China. “This will pave the way for greater growth in the fine fragrance industry, both within China and globally.”

As part of his China expansion strategy, Firmenich brings additional value to customers by creating highly localized, first-hand customer journeys. In 2019, the company became the first global perfume house to establish a fine perfumery workshop in China and was the first to offer a dedicated business model that provides easy access to all fine fragrance capabilities under one roof, serving all local customers in China and global customers around the world. The company also opened its new Guangzhou Studio in September 2021, allowing it to offer a diverse range of benefits to an even wider base of consumers.

About Firmenich

Firmenich is the world’s largest privately held fragrance and flavor company, founded in Geneva, Switzerland, in 1895 and has been a family business for 125 years. Firmenich is a leading business-to-business company operating primarily in the fragrance and taste market, specializing in the research, creation, manufacture and sale of fragrances, flavors and ingredients. Renowned for its world-class research and creativity, as well as its leadership in sustainable development, Firmenich offers its customers superior innovation in formulation, a wide palette of high-quality ingredients and exclusive technologies such as biotechnology, encapsulation, olfactory science and taste modulation. . Firmenich had an annual turnover of 4.3 billion Swiss francs at the end June 2021. More information about Firmenich is available at www.firmenich.com.

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SOURCE Firmenich

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