As part of its strategy to expand its capabilities in artificial intelligence (AI), Givaudan has inked a deal to purchase Myrissi, a France-based company whose patented technology is capable of translating fragrances into colour patterns and images.
This link between colours, emotions and fragrances was modelled on the basis of a database of more than 25,000 consumer tests and Myrissi’s consumer-centric approach is said to support the development of fragrances that fully echo customers’ marketing briefs.
“The acquisition of Myrissi is aligned with our long term Fragrance & Beauty strategy; their expertise in AI will support us in proposing to our customers new visual and verbal storytelling approaches to consumers,” Maurizio Volpi, President of Givaudan Fragrance & Beauty, commented.
“This is particularly important in a time when e-commerce is booming. Our mission will be to support our customers to evoke the smell of their products in the most inspiring way, helping consumers to choose the product that best fits their preferences.”
Muriel Jacquot, who founded Myrissi in 2014, added: “We are very proud to join Givaudan and to bring in the platform that we have developed with success for ten years.
“We strongly believe that this is a great opportunity to expand our digital expertise in telling compelling fragrance stories that resonate emotionally with consumers.”
The terms of the deal were not disclosed but the transaction is expected to close in Q1 2021.
