SWITZERLAND – Global flavour and fragrances company, Givaudan has renamed its flavour divisions to Taste & Wellbeing, reflecting its expanded product offering to its customers.
The name change according to the company is highlighting its global leadership position in flavour and taste, while signalling the expansion of the business into adjacent spaces.
“Over the past five years, we have expanded our portfolio in a significant way, complementing our industry-leading flavour and taste capabilities with an outstanding offer of natural functional and nutritional solutions.
“The new name captures this expanded portfolio and the value we bring to customers by going beyond great taste, to create more complete future-facing food experiences,” Louie D’Amico, President Taste & Wellbeing said.
In the same vein, the Swiss company has renamed its fragrance division to become fragrance & beauty highlighting its global leadership in fragrances whilst signalling the expansion into beauty.
Maurizio Volpi, President Fragrance & Beauty said, “By reinforcing our leadership in fragrances we want to become the creative partner of choice not only in personal, fabric, hygiene and home care but also in fine fragrance and beauty overall.”
The new names reflect Givaudan’s purpose of creating for healthier and happier lives, with love for nature, and are aligned with the divisions’ 2025 strategic ambitions to shape the future of food, fragrances, and beauty by becoming the innovation and co-creation partner of choice to its customers, indicated the company.
Givaudan’s 2025 strategy is driven by portfolio expansion, investments in high growth markets like China and the trend for smaller and more local brands.
The roadmap also comprises major financial targets for the next five years.
The company aims to deliver an average organic sales growth of 4 to 5 percent on a like-for-like basis. In addition, it targets an average free cash flow of at least 12 percent.
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