Barcelona, December 14, 2022
- The fragrance house is to acquire PT Euronindo Fragrance in Indonesia to reinforce its presence in the APAC region.
- Eurofragance plans to expand its Development and Sales capabilities in a market representing significant growth potential.
- The Spanish multinational has divested itself from the United States market and sold its business to OnScent, owned by The Riverside Company.
– Effective January 17, 2023, fragrance house Eurofragance is to acquire its longstanding business partner PT Euronindo Fragrance in Indonesia. This strategic acquisition reinforces the Spanish multinational’s presence in the Asia Pacific region. Unto itself, Indonesia’s dynamic economy and youthful population is the largest economy in Southeast Asia and represents important growth potential for Eurofragance.
Present in Indonesia for the official signature ceremony, Santiago Sabateés, Founder and Chairman of Eurofragance, declares: “Indonesia is a fast-moving country, this is the right time to invest further in a market which we entered over 20 years ago.” PT Euronindo Fragrance to Become Eurofragance Indonesia
Seven years ago, Eurofragance entered into a partnership with PT Euronindo Fragrance, formerly known as Kemikaroma, importing finished goods from Singapore into Indonesia. New Sales, Marketing, Development and Manufacturing capabilities in Djakarta will put Eurofragance on par with local competitors. “To date, the company has sustained unparalleled growth and puts us in a comfortable position to go head-to-head with some of the largest competitors in the sector,” underlines Laurent Mercier, CEO of Eurofragance.
On the official closing date of the purchase, Edy Chandra, the actual Sales Manager will be promoted to Country Manager for the newly founded Eurofragance Indonesia. Edy says: “I feel that together with Eurofragance we have developed a relationship based on trust and learnings, which paves the way, today, to this desirable acquisition. It is the right step up for us to achieve and reap extraordinary results in the future.” Eurofragance Sells its US Entity
On December 6, 2022, The Riverside Company officially acquired Eurofragance LLC, based in Middlesex, New Jersey. Eurofragance’s entry on the United States market goes back to 2017, in Atlanta, Georgia. By mid-2020, the Barcelona-based perfume house had outsourced its Manufacturing capabilities to OnScent, owned by The Riverside Company. Leandro Nonino, outgoing General Manager and Vice President Sales North America concludes: “After two and half years under this model, Eurofragance USA managed to triple its sales in this competitive market and hands over a promising business.”