As part of its long term strategy to expand its capabilities in Artificial Intelligence (AI), Givaudan today announced that it is to acquire Myrissi, a French start-up created in 2014.
Myrissi has developed a patented AI technology capable of translating fragrances into colour patterns and images, relevant to the consumer as well as predicting the end consumer’s emotional response.
The link between colours, emotions, and fragrances was modeled on the basis of a database of more than 25,000 consumer tests.
This unique consumer-centric approach allows Myrissi to support the development of fragrances that fully echoes customers’ marketing briefs. According to Givaudan, the emotional impact of a product is enhanced by avoiding the cognitive dissonances that appear when sensory messages are not perfectly consistent. The uniqueness of the product and the brand identity are therefore amplified and this helps consumers to select a fragranced product in store or via e-commerce channels that has a higher chance to be liked.
Myrissi’s expertise will support Givaudan in proposing new visual and verbal storytelling approaches to consumers. “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,” said Maurizio Volpi, President Givaudan Fragrance & Beauty.
The terms of the deal have not been disclosed. The transaction is expected to close in the first quarter of 2021.