Artificial intelligence continues to become a more integral part of the beauty business. As part of its long term strategy to expand its capabilities in this area, Givaudan has acquired French tech company Myrissi.
 
Founded in 2014 and based in France, Myrissi has developed a patented AI technology capable of translating fragrances into color patterns and images, relevant to the consumer as well as predicting the end consumer’s emotional response. The link between colors, emotions, and fragrances was modeled on the basis of a database of more than 25,000 consumer tests, which Givaudan contends allows Myrissi to support the development of fragrances that fully echoes customers’ marketing briefs.  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 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, according to Givaudan. 
 
“The acquisition of Myrissi is aligned with our long term fragrance and beauty strategy; their expertise in AI will support us in proposing to our customers new visual and verbal storytelling approaches to consumers. This is particularly important in a time when e-commerce is booming,” said Maurizio Volpi, president, Givaudan Fragrance & Beauty.
 
The terms of the deal will not be disclosed. The planned acquisition remains subject to formal approvals from the regulatory authorities and the transaction is expected to close in the first quarter of 2021.