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NEW YORK - International Flavors & Fragrances Inc. (NYSE:IFF) introduced on Thursday its new sustainable scent delivery system called ENVIROCAP, designed specifically for fabric care products.
The new technology features a proprietary biopolymer that delivers long-lasting fragrance while reducing environmental impact, according to a company press release. IFF states the product is fully compliant with the European Chemicals Agency regulations, biodegradable according to EU Microplastics Restriction standards, and suitable for vegan formulations. According to InvestingPro data, IFF maintains a "FAIR" overall financial health score, suggesting stable operational performance despite recent market challenges.
"In 2005, IFF revolutionized laundry care with scent bursts that brought joy throughout the day. Now, we’re leveraging our leading nature-based bio innovation capabilities to redefine the power of scent technology in laundry," said Ana Paula Mendonça, president of IFF Scent, in the company statement.
The development comes amid growing consumer demand for sustainable products in the fabric care sector. ENVIROCAP works across all stages of the laundry experience and allows perfumers to utilize IFF’s fragrance ingredient portfolio. While the stock has seen a -19.5% return over the past year, InvestingPro analysis indicates positive momentum with analysts projecting profitability this year. Get access to 7 more exclusive ProTips and comprehensive financial analysis with an InvestingPro subscription.
IFF, which specializes in flavors, fragrances, and biosciences, designed the technology to deliver fragrance from wash to wear while aligning with market trends toward environmentally friendly laundry solutions.
The company did not disclose specific pricing or availability details for the new product in its announcement.
In other recent news, International Flavors & Fragrances Inc. (IFF) has reported several significant developments. The company recently completed the sale of its nitrocellulose division to Czechoslovak Group, a strategic move aimed at reducing debt and focusing on core business areas. This divestment is part of a broader strategy to improve financial health, as highlighted by UBS analyst Joshua Spector, who noted a reduction in IFF’s net debt-to-EBITDA ratio. Additionally, the company has confirmed its full-year organic growth projection of 1-4%, with expectations for organic EBITDA growth of 5-10%, according to BofA Securities.
Tigress Financial Partners initiated coverage on IFF with a Buy rating and a $105 price target, emphasizing strong execution in core segments and successful strategic actions. BofA Securities also increased its price target for IFF to $92, maintaining a Buy rating due to the company’s strong first-quarter performance, which included 3% organic growth. Meanwhile, UBS has maintained a Neutral rating with an $83 price target, focusing on IFF’s shift from leverage concerns to growth opportunities.
In leadership news, Gina Drosos has joined IFF’s board of directors, bringing extensive experience from her previous roles, including CEO of Signet Jewelers. Her addition is expected to enhance the company’s strategic direction. These developments indicate a period of strategic realignment and growth focus for IFF amidst broader industry trends.
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