Spanish perfume house Eurofragance has been awarded the EcoVadis Platinum Medal. The multinational has been awarded the highest distinction for sustainable development by EcoVadis, which evaluates organizations on the basis of sustainability criteria in four main areas: environment, labor and human rights, ethics and sustainable sourcing.
An evaluation in progress
The perfume company's overall score was 80 points out of a possible 100, placing it in the top percentile of all organizations assessed by EcoVadis. This score, which represents an improvement on last year's (77 points), testifies to the company's ongoing efforts towards greater sustainability.
"We are extremely pleased with this result, as this recognition by EcoVadis is not only proof of our unwavering dedication to sustainability and quality in everything we do, but also of how we are continually working to go further. While this is a significant achievement for us, we believe there is still room for improvement. We are truly grateful to our teams and partners for their ongoing support and collaboration, which contribute significantly to our success." said Diana March, Global Director of Sustainability and Technical Compliance at Eurofragance.
Eurofragance has been applying for the EcoVadis assessment process since 2019, when the company was awarded a silver medal. "This achievement assures our partners and customers that they can rely on us to contribute effectively to their sustainability objectives. EcoVadis' recognition is testament to our commitment to our business strategy, sustainability philosophy and quality in all aspects of our operations."emphasizes Laurent Mercier, Managing Director of Eurofragance.
Growing sales
The company, which closed 2023 with sales of 146 million euros, has published its ESG results locally and internationally in the fragrance house's annual sustainability report.
At the same time, the multinational company posted strong growth (over 20 % compared with the previous year's sales on a like-for-like basis). These results were made possible in part by key factors such as segmentation of markets with the best potential, maintaining priorities and appreciated customer service. Sustained growth in key countries such as the United Arab Emirates, Saudi Arabia and Europe enabled Eurofragance to achieve these sales figures. Sales in India and Indonesia also contributed to these positive results.
AI and cybersecurity for sustainable growth
Eurofragance continues to strengthen its alliances with strategic AI partners to support its processes, systems, fragrance technologies and new ways of working. In order to innovate in fragrance development, the company is currently implementing two AI initiatives, each of which requires a significant level of resources. The first, announced last year, is the collaboration with French green bio-deeptech company Alphanosos to develop proprietary technological innovations designed to combat unpleasant odors. The second major project will be revealed later in 2024.
Eurofragance has been working with AI for several years. The perfume house has also strengthened its cybersecurity organization to reduce risks, and has developed a cybersecurity culture strategy to raise employee awareness.
