Published Jun 23,
Eurofragance Expects Significant Growth Through its Brand Repositioning
Barcelona, June 23, 2021 – Behind every rebranding exercise lies a bigger story. The recent overhaul of Eurofragance’s brand is no exception. The Barcelona-based company recently presented their strategic refocus and fresh ambitions to grow their share of the fragrance creation and manufacturing sector. Now, more than ever, Eurofragance plans to push forwards in the Home Care and Personal Care categories, while simultaneously expanding its client base and geographic scope in all categories including Fine Fragrance. In order to meet their objectives, the mid-size company strengthened its current team of Eurofragancers (as they are known inside the organization) with new hires with extensive perfumery experience.
Expanding from a Solid Fine Fragrance Base
Founded in 1990 by Santiago Sabatés, Eurofragance has since cut out for itself a position of choice in the fine perfumery categories and in particular in the high-end niche brands and the growing oriental fragrances segments. Along with the creation of fine fragrances, the company has also been creating and producing scents for virtually all types of Home Care and Personal Care products. Nonetheless, their stated goal is now to meaningfully accelerate their market penetration of FMCG products, while continuing to leverage their position of strength to gain Fine Fragrance business.
To better their chances in of speeding up their growth in functional perfumery (non-Fine Fragrance), Eurofragance recently hired Olegario Monegal who joins the organization as Global Business Unit Director, Home & Personal Care with over twenty years of perfumery experience, and who will be responsible for the expansion of these two categories. Considering the current situation, with a view on the future, Monegal says: “Like many boutique fragrance houses, Eurofragance started in fine perfumery—and has done exceptionally well over a short timeframe in this competitive environment. The time has come, however, to rebalance our share of sales so that Fine Fragrance, Home Care and Personal Care are more evenly split. Not only will this afford us greater stability in challenging times—the pandemic is just one example—but it will also serve as a springboard to penetrate new segments, markets and brands.”
A Brand Makeover in Order to Reflect the Company’s Strategic Shift
With a refocus of the company’s strategy, Eurofragance realized that it needed more than a facelift in order to fulfill the company’s vision. With the help of Summa, a brand and design agency with headquarters in Barcelona, Eurofragance undertook to revisit their brand and all their communication tools from top to bottom.
Following over a year of work (and introspection), Eurofragance unveiled, this June 10th, to all its employees worldwide and key customers their new strategic direction, visual identity, and website. When asked why it was necessary to rebrand, Stéphanie Marze, Global Head of Marketing and Corporate Communication at Eurofragance, responds: “If our wish is to grow vertically, into new categories, and horizontally, in terms of our scope of influence, we must align our corporate messages to reflect this growth strategy. This has now been done; our communication reflects the company’s objectives and vision.” Such a project required Eurofragance to fine tune their positioning, refresh their message and clearly state their purpose. While the Spanish multinational company won’t share, what they consider to be their winning formula, Eurofragancers throughout the network, now have the necessary tools to compete for business with larger fragrance houses.
A Desire to Positively Surprise Customers
Eurofragance has always prided itself on their high quality fragrances and client service. When probed, the company’s employees are quick to say that nurturing their business partnerships and being customer-centric are part of Eurofragance’s corporate culture and historical heritage. Laurent Mercier, Chief Executive Officer at Eurofragance, is well aware of the challenge of balancing continued growth while maintaining customer intimacy. He says: “Our experience and know-how combined with a `healthy appetite’ allow us to quickly scale up our fragrance creation and manufacturing model in new markets. In so doing however, it is paramount that we continue to nurture our partners and reward them for their loyalty.”
But Eurofragance’s goals are not just geographical expansion. At their internal repositioning event, on June 10th, Mercier also spoke about the company’s legitimacy to design fragrances for new clients with brands with even more business potential. Mercier adds: “We have the capabilities, network, palette and talent of our larger competitors—we are well poised for growth."