IFF opens Shanghai creative center to target China market growth
After reporting particularly good results in Greater Asia, International Flavors and Fragrance (IFF) is attempting to strengthen its presence in the region.
The center is located in the Putuo district of Shanghai and includes both creation facilities and a consumer insights center designed to help the company keep track of the consumer preferences in the region.
Commenting on the new center CEO Rovert M. Amen said: “IFF is dedicated to helping our customers grow their brands. To deliver on this, we must invest in material science, creativity and consumer insights. The new Shanghai Creative Center is a wonderful demonstration of this commitment.”
Strong regional results in 2008
The Greater Asia region was the best performing for the company in 2008 and the only one to report a sales increase of above 10 percent.
According to the company, the new center will help the company capitalize on the strategic growth to be found in the region.
For the fragrance sector, which in recent years has lagged behind the company’s flavors business, the region was particularly profitable reporting a 12 percent increase in sales in local currency.
These strong results are in stark contrast to the company’s US fragrance sales which took a hit of 10 percent during the year.
IFF is not the only global flavors and fragrance supplier to focus their regional efforts in the city – competitor Symrise opened a creative center in Shanghai earlier this summer.
The Germany-based company opened the center, which will house all functions and creative resources of the scent and care division for the Chinese market, on June 18 2008.