Economy, Business And Markets

German Perfume, Flavor Firm Opens Tehran Site

German Perfume, Flavor Firm Opens Tehran Site
German Perfume, Flavor Firm Opens Tehran Site

Germany-based fragrance and flavor company Symrise opened “Symrise Parsian”—its own site in Tehran—on Thursday.

The company will also set up sales offices and application-specific laboratories at the site. It wants to use the knowledge gained on site to develop custom-tailored products for the market in the Persian Gulf region.

These will be made for local and international customers in the food and beverage industry, as well as for manufacturers of perfumes, body care, and household care goods, Symrise reported on its website.

The history of Symrise is closely linked to Iran. The Scent & Care and Flavor & Nutrition segments have had business contacts with Iran for more than 40 years. During this time, Symrise has worked intensively to familiarize itself with the local markets, building close and lasting relationships with customers.

“Having our own site in the region underlines our dedication to Iranian customers and this attractive market. We are thus a step ahead of many other international companies,” said Heinz-Jurgen Bertram, chief executive officer of Symrise AG.

“The country has good liquidity and already ranks among the 20 largest economies. Iran has the fourth-largest oil reserves in the world as well as other natural resources. Experts expect the gross domestic product to double soon.”

Local and international guests as well as company representatives attended the opening ceremony at the Symrise Parsian site. The official welcome was carried out by the German Ambassador Michael von Ungern-Sternberg. The board of the German Chamber of Commerce and senior representatives from the German Consulate were also present.

“The population of roughly 80 million is well educated with a healthy demographic distribution of 50% under the age of 30. There is a lot of demand for products such as high-quality perfumes, cosmetics and foods that conform to leading global standards. The total market potential in this area is estimated to be more than €100 million,” explains Mohammad Faieghi, managing director of Symrise Parsian.

Symrise is a global supplier of fragrances, flavors, cosmetic ingredients and raw materials as well as functional ingredients. Its clients include manufacturers of perfumes, cosmetics, food and beverages, the pharmaceutical industry and producers of nutritional supplements and pet food.

Its sales of more than €2.6 billion in 2015 place Symrise as one of the global leading companies in the flavors and fragrances market. Headquartered in Holzminden, Germany, the group is represented in over 40 countries in Europe, Africa and the Middle East, Asia, the United States and Latin America.