In Brief: IFF
This article was originally published in The Rose Sheet
Executive Summary
IFF: Net sales for 1997 flat at $1.43 bil., compared to $1.44 bil. in 1996, International Flavors & Fragrances reported Jan. 29. Net income for the year increased 14.9% to $218.2 mil., excluding a one-time $49.7 mil. operations charge in the second quarter of 1996. Including the charge, net income decreased slightly (1.3%). For the year, North American fragrance sales increased 2%, while Western European fragrance sales decreased 5%. On a constant currency basis, fragrance sales in Western Europe grew 5%. Regions outside these areas had a 6% increase in fragrance sales. The earnings statement follows an earlier announcement that earnings per share would be lower than expected due to the economic slowdown in the Far East and Brazil. The company said it expects to finish 1998 with "strong gains" since new product development in both flavors and fragrances is high...
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Marketing In Brief
ModiFace launches forecasting tool: Toronto-based virtual makeover firm introduces ShadeCast, a makeup sampling and forecasting tool based on behavioral tracking. ShadeCast is used in conjunction with iPhone application MakeUp, which allows consumers to virtually try on makeup in hundreds of shades from brands including Revlon, Cover Girl, Lancome and Clinique. ShadeCast offers 1,000 cosmetic shades from 40 brands and assigns a ShadeScore "to approximately position the [app's] hottest and most sampled color." ModiFace exec Nikkie Gatto likens the app to radio music playlists, helping consumers "looking to capture the current look, but also provide vital market intelligence to our retail channel partners," she says in Nov. 3 release. "The value of data to demonstrate the aggregate behavior will help the industry predict the latest trends and help cosmetic manufacturers better understand the color and products which most resonate with online and iPhone virtual makeover users," the company says