International Flavors & Fragrances, Inc. Annual Meeting
Like each year, it takes place in early May. For me it is always a highlight to attend and I dress up for it and wear a well chosen perfume.
This year the Meeting was held not in the cafeteria but in a new meeting room and the Company outdid themselves, with white and blue decorations and fresh flower bouquets all over, not to mention the nice breakfast area.
Instead of late, this year I was early and surveyed and enjoyed the preparations, as slowly the room filled with very old looking shareholders. Ancient, I say. One proclaimed that he likes this particular stock, as one of the "Nifty Fifties", in the genre of Johnson & Johnson, Pfizer and the like, being very conservative stocks.
The election of the new Board of Directors was taken care of, as well as a report of the state of business. Robust, nothing to complain about. Especially since the Company has for I don't know how many years already concentrated on the emerging markets, like China and India. New plants were built and the growing consumer spending ability and demand is filled with the products of IFF.
Here is the time to put the link to the Company webpage - www.IFF.com
During the question and answer period, of course Ursula just had to grab the microphone and ask the question whether the Company envisions more emphasis on FLAVORS rather than FRAGRANCES in the developing emerging markets, like China and India (and others) as both arms constitute the product of the Company. I thought that their vision would be in FLAVORS rather than FRAGRANCES in those poor markets, but was assured that the scenting of laundry products and other household items find a ready market among a growing consumer population that even if they cannot afford the luxury of fine fragrance, they still want nice smelling laundry products for their family and take pride in that.
Of the mainstream market right here in the U.S., two successes were mentioned, "La Vie Est Belle" and "Tory Burch". On the bus ride home I stopped in Bloomingdale's and tested those right away. Helas, my taste may be "spoiled" by niche fragrances, neither one of these two made a dent with me, something I would not buy, but they seem to go well.
Last, not least, here is a link to behind the scenes, what the Company does. Basenotes member Neil Sternberg wrote an excellent article, a while back (published in THE PERFUME MAGAZINE on December 30, 2011) where he really had access and met the people. And it was highly enjoyable. I wish I had the opportunity of such a tour ...