Symrise opens Iran office

19-Apr-2016 - Last updated on 20-Apr-2016 at 08:02 GMT

According to Symrise Parsian, total market potential in the Iran area is estimated to be more than US $113m. © iStock

German flavour and ingredients producer Symrise has opened a new office in Iran, replacing its freelance representation in the country as it aims to capitalise on the lifting of sanctions.

The firm’s office, called Symrise Parsian, is based in Tehran, and will initially be staffed by 22 sales and marketing executives, as well as application experts. Along with sales offices, Symrise Parsian will include local application and development facilities.

Growing demand after sanctions

“After years of sanctions there is a big and increasing demand in quality food and beverages, as well as perfumery and cosmetic products. The country is in a financially good position. Iran has a population of 80 million people. Many of them are very well educated and seeking high quality consumer products based on Western standards. Iran has the potential to become the regional hub to bridge the Eastern and Western world,” said Bernhard Kott, vice-president of corporate communications at Symrise.

The firm has maintained links with Iranian customers for many decades, and by establishing a direct presence in the country it hopes to stay a step ahead of its competitors and show its dedication to Iran, according to Symrise CEO Heinz-Jürgen Bertram.

“Our business relationships have been in place for more than 40 years. The business has been overseen by freelance sales representatives since the mid-seventies and has been expanded continually in the years since then. Despite the many sanctions that were implemented at the beginning of the Iraq war and maintained throughout, Symrise has sustained strong relations with customers and surrounding Persian Gulf states,” he said.

“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,” added Bertram.

New regional hub

Symrise Parsian will join the firm’s existing regional offices in Dubai and Egypt. From the Tehran site, the firm will service customers in the GCC, Syria and Iraq, as well as Afghanistan, Pakistan and the CIS countries – but Iran will remain a major target for the firm’s expansion.

Mohammad Faieghi, managing director of Symrise Parsian said the total market potential in the area was estimated to be more than US $113m.