The Swiss fragrance brand has signed a partnership with Harmay, a Chinese company which specialises in the distribution of premium beauty products.
After the inauguration of a fine perfumery laboratory in 2019, Firmenich is now continuing to grow its presence in China through a new partnership with Harmay which specialises in the distribution of premium beauty product, which are available via the company’s network of shops and a website.
Through the collaboration with Harmay, Firmenich intends to exploit synergies to develop new perfume brands and new concepts. According to Mintel, within 5 years the Chinese perfumery market is expected to reach 2.43bn, an annual growth of 17 per cent. These projections arouse the appetite of cosmetics players, who want more than ever to seduce Chinese consumers.
“China should continue to be a growth engine for fine perfumery, in particular thanks to the rise of local brands and a significant increase in consumption, mainly among Generation Z”, explains Jason Ju, one of the founders of Harmay.
