F lavours and fragrances
R&D -intense sector
Flavours and fragrances is proving to be a vibrant sector with strong growth. Its top players have been based in Geneva for decades.
G eneva is a world reference in flavours and fragrances. The two top players of the industry, Givaudan and Firmenich, were established in Geneva in 1985. Together, they generated in 2017 a turnover of nearly CHF 8 billions. They also invest 10 per cent of their income in research and development every year. It is said that Givaudan and Firmenich are reaching more than 3 billion consumers every day, whether through their flavours contained in food and drinks, or the fragrances included in cosmetics and household detergents. As pioneers in organic chemistry, Givaudan and Firmenich are the cornerstones of a strong flavours and fragrances ecosystem in Geneva and its region, with more than 400 companies active in the sector, representing around 10,000 jobs. Both Givaudan and Firmenich see Geneva as the ideal location for this R&D-intense sector, providing not only a highly educated workforce, but privileged
access to their best customers: the world's number one multinational manufacturers of beauty, household and fabric-care products, pharmaceuticals, food and drinks. Close proximity to clients such as Geneva-based Procter & Gamble, Elisabeth Arden, Shiseido and Coty allows for ongoing consultation and close business relationships. Firmenich is a family-owned company that employs some 7,000 people worldwide, broken down into approximately 63 sites, including more than 30 dedicated to production. With an annual growth of 7.5 per cent per year since 1989, the group covers around 14 per cent of world market share, against approximately 20 per cent for Givaudan, which ranks among the top 30 stock market valuations in Switzerland and has a workforce of around 8,900 employees, distributed in a network of more than 80 factories.
XII geneva 2018
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