A novel event took place at the Royal Mirage last week, when four world-class perfumers flew in for some “speed-smelling”.
The event was hosted by International Flavors & Fragrances (IFF), which has been making the world smell better since 1889, developing some of the best-known fragrances, such as YSL’s women’s perfume Manifesto. Now the company has put down roots in the Middle East.
The speed-smelling event was organised to celebrate the opening of IFF’s new creative centre in Dubai, says Xavier Renard, the president and regional general manager of fine fragrance and beauty care. “Our plan is to have a fully dedicated team of fine-fragrance people here to cover the needs of our customers in the region.”
The speed-smelling concept was simple: four internationally reputed perfumers – Dominique Ropion, Sophie Labbé, Alienor Massenet and Julien Rasquinet – had seven minutes to persuade their respective tables of guests that the notes of their new scent – created especially for the event – were the best.
Though no prize was on offer, the olfactory experts had free rein to choose from the rarest and most expensive raw materials available. They were also encouraged to express their personality and local knowledge through their customised scents.
“Our fragrances needed to relate to the Middle East, so the rose was my starting point,” said Ropion. “It’s very classical and emblematic in perfumery and I worked hard to make it more oriental. Other notes included tube-rose trace and other floral notes, such as patchouli, to complement the heart of the perfume.”
Although IFF has no immediate plans to sell the extravagant on-the-spot fragrances in the UAE, the team is keenly aware of the audience that exists in the region.
“The Middle East is the fastest-growing market in the world right now when it comes to fine fragrances,” says Renard. “Recent fragrances we’ve been involved in the creation of – and that had a major launch in the Middle East – include Invictus by Paco Rabanne and Valentino’s Uomo, among many others. It is key for us to be here and also important for us to bring a new level of creativity to the market.”
• Visit www.iff.com for more details
rduane@thenational.ae
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Tributes from the UAE's personal finance community
• Sebastien Aguilar, who heads SimplyFI.org, a non-profit community where people learn to invest Bogleheads’ style
“It is thanks to Jack Bogle’s work that this community exists and thanks to his work that many investors now get the full benefits of long term, buy and hold stock market investing.
Compared to the industry, investing using the common sense approach of a Boglehead saves a lot in costs and guarantees higher returns than the average actively managed fund over the long term.
From a personal perspective, learning how to invest using Bogle’s approach was a turning point in my life. I quickly realised there was no point chasing returns and paying expensive advisers or platforms. Once money is taken care off, you can work on what truly matters, such as family, relationships or other projects. I owe Jack Bogle for that.”
• Sam Instone, director of financial advisory firm AES International
"Thought to have saved investors over a trillion dollars, Jack Bogle’s ideas truly changed the way the world invests. Shaped by his own personal experiences, his philosophy and basic rules for investors challenged the status quo of a self-interested global industry and eventually prevailed. Loathed by many big companies and commission-driven salespeople, he has transformed the way well-informed investors and professional advisers make decisions."
• Demos Kyprianou, a board member of SimplyFI.org
"Jack Bogle for me was a rebel, a revolutionary who changed the industry and gave the little guy like me, a chance. He was also a mentor who inspired me to take the leap and take control of my own finances."
• Steve Cronin, founder of DeadSimpleSaving.com
"Obsessed with reducing fees, Jack Bogle structured Vanguard to be owned by its clients – that way the priority would be fee minimisation for clients rather than profit maximisation for the company.
His real gift to us has been the ability to invest in the stock market (buy and hold for the long term) rather than be forced to speculate (try to make profits in the shorter term) or even worse have others speculate on our behalf.
Bogle has given countless investors the ability to get on with their life while growing their wealth in the background as fast as possible. The Financial Independence movement would barely exist without this."
• Zach Holz, who blogs about financial independence at The Happiest Teacher
"Jack Bogle was one of the greatest forces for wealth democratisation the world has ever seen. He allowed people a way to be free from the parasitical "financial advisers" whose only real concern are the fat fees they get from selling you over-complicated "products" that have caused millions of people all around the world real harm.”
• Tuan Phan, a board member of SimplyFI.org
"In an industry that’s synonymous with greed, Jack Bogle was a lone wolf, swimming against the tide. When others were incentivised to enrich themselves, he stood by the ‘fiduciary’ standard – something that is badly needed in the financial industry of the UAE."
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