It comes as the fourth of the Barcelona-headquartered company’s creative centres in the country, and Eurofragrance has invested EUR 2 million in the latest plant, which it says will be “strategic to its development and to the creation of new fragrances.”
The innovation facility will be used for the design, evaluation and development of applications and fragrances, according to the company, and “will streamline projects and will drive categories for which there is great demand in Asian markets, such as Home Care Fragrances.”
Asia: smelling sweet
The opening comes ahead of the launch of a new production plant for Eurofragrance in Singapore later this year too, with both facilities suggesting the company is banking on Asia as a key region for growth up ahead in the fragrance category.
“Eurofragance sales in Asia are showing one of the highest rates of growth,” the company says, and notes that the opening of the two facilities this year plays part of its wider expansion strategy through which it aims to generate EUR 77 million by the end of this year, and EUR 100 million by 2018.
Speaking of the new plant specifically, Eurofragrance confirmed the region is a leading priority within this strategy.
“The mission of this plant, which will be equipped with a state-of-the-art robot, is to localise and increase production in what is a strategic geographic area for the company.”
Eurofragrance is not the only western fragrance player looking to corner the rising fragrance market in Asia: last year, rival Givaudan also invested in opening a creative centre and production hub in Singapore.
Further, the move to focus a company’s Asia innovation and R&D capacity in Singapore is one with which multinational P&G has led the way.
The company owns a USD 250 million research centre in the country, which it says is strategically positioned as hub for the wider Asian region - the company’s largest hub for innovation.