Elegant Ladies Inward High Heels, H2o At $1000 Per Liter In Addition To Huabao, An Interesting Stock On The Hong Kong Stock Exchange
A distich of years agone my married adult woman too my work concern partner's married adult woman turned upward at our component division inwards Bondi Junction too and then went shopping in the mega-mall below.
This is the sort of affair that gives a tight-wad similar me nightmares.
H5N1 distich of hours afterwards they returned amongst their bags. My married adult woman was wearing a novel perfume which I form of liked.
I would select told her I liked it fifty-fifty if I was completely indifferent (she is my dear wife) but I could say it honestly. It was Chanel Gardenia.
This was almost a calendar month earlier our 10th marriage anniversary so I had solved the gift work – or so I thought. Later I popped downwardly to DJs (think Nordstrom for Australia) and Myer (the also-ran subdivision store) looking for Gardenia. No chance. Eventually a client took compassion on me too told me you lot could solely notice this at the Chanel shop.
I could run into the nib going up.
I found the Chanel store inwards a component division of the mall I never take in too the shopkeeper (an elegant adult woman inwards high-heels who looked straight off through me) eventually showed me the perfume which came solely inwards sizable too expensive bottles. Three minutes afterwards too $230 lighter I had my gift.
Mission accomplished.
Australian labeling laws demand that Chanel specify some of the ingredients. Here is the label (now somewhat decayed):
It is a pretentious label. They telephone outcry upward H2O “Aqua”. Guess they can't convey themselves to acknowledge they sell H2O at almost $1000 per litre. Alcohol is the master copy element – likely a adept proportion of the total. Most the residual I had never heard of.
Being an inquisitive type I looked them upward – I fifty-fifty looked on Alibaba for the terms (per tonne) of these chemicals so I could larn some persuasion of how much I was existence ripped off past times the fancy box too the elegant lady inwards high-heels. It spoiled the romance but was educational. According to Wikipedia, Citral is a 3,7-dimethyl-2,6-octadienal or lemonal, is either of, or a mixture of, a pair of terpenoids. The E-isomer is known as geraniol (also an element of the perfume). It is pheremonal inwards insects (and inwards the promise – likely vain - of the perfume manufacturer pheremonal inwards humans too). There are lots of suppliers on Alibaba – to a greater extent than oft than non past times the barrel. Most of these are distributors for Givaudan – a Swiss flavors too fragrances business.
Linalool is a major fragrance chemic used – according to Wikipedia – inwards 60-80 pct of “perfumed hygene products” too also past times pest-professionals every bit an insecticide. (Note what this perfume does – drives insects wild amongst pheremones too kills them. Think what it tin exercise for you!) Again most the distributors on Alibaba are distributors for Givaudan. You tin purchase it here for $5 a kilogram too they volition sell you lot 1000 tonnes per month. It is kosher (and Halal) too!
From at that spot I went looking at Givaudan – the companionship that likely manufactured this fragrant “Aqua”. It is an interesting companionship amongst an enormous website containing technical specifications (instructions, FDA approvals etc) for the thousands of flavors too fragrances it manufactures. When you lot run into apple-pie too cheesecake flavored yogurt what you lot are seeing is their fine Swiss technology. There are - if you lot exercise a Google count - almost xi 1000 pages on this website. This is a sophisticated too wide-reaching business.
Givaudan is an interesting stock (we intend almost it every bit a long) too it is currently trading fairly depression relative to sales vis its history. It is the technological leader inwards flavors too fragrances.
Here is its P&L inwards Swiss Francs for the past times 2 years...
This companionship does CHF336 1000000 (almost 400 1000000 dollars) a yr inwards interrogation too development. That is what your cheesecake flavored yogurt too Britany perfume terms to develop. This R&D is a pretty company barrier to entry. After quite considerable distribution costs (you select to involvement the nutrient manufacturer inwards the bizarre terpanoid you lot select developed) too considerable R&D Givaudan winds upward amongst operating income of 13.1 pct of sales.
There is some other flavors too fragrances companionship – International Flavors too Fragrances – that used to live on the leader too is however the leader inwards tobacco flavoring (a declining work concern I would guess). IFF is good known to people who select read the investment classic “Common Stocks too Uncommon Profits”. IFF had a tech leadership for generations too was a fantastic stock - it is however non a bad one. Somehow (I don't know how every bit I exercise non select the history) it ceded much of that leadership to Givaudan.
All rattling interesting too grist for the retentiveness bank.
Recently I came by Huabao – a Chinese flavors too fragrances companionship listed on the Hong Kong stock exchange. Market cap is almost twenty billion Hong Kong dollars - almost 2.5 billion USD.
The spider web site clearly is non every bit sophisticated every bit Givaudan. Counted pages on the site in Google full 49.
Huabao has a marketplace seat cap of a chip over a 3rd of Givaudan, too is a foreign beast. Like IFF it claims to live on primarily a tobacco flavorant. Here is the P&L.
Huabao it seems is a really miraculous business. Gross net turn a profit is over lxx percent. Marketing too distribution expense is lxxx 1000000 Hong Kong dollars – roughly a twentieth of Givaudan. Research too evolution expenses are 73 1000000 HKD – a picayune over 10 1000000 or almost a fortieth of Givaudan's expense.
Profit earlier taxation is 1871 1000000 Hong Kong dollars on full sales of 2852 1000000 HK dollars. That is 65 pct of sales too it compares (very) favorably amongst thirteen pct at Givaudan of sales.
Huabao gets superior margins – nay vastly superior margins – whilst doing much less R&D too having much less selling expense. Truly miraculous. Givaudan – the putative technical leader – should spotter out.
I wanted to move out what Huabao really sold – what R&D they had – what engineering scientific discipline they had that justified their superior returns. Alas this was difficult. You see HBGlobal.com is non a rattling informative website.
Here – inwards pictures – is the page (yes i page) that describes their production set.
Compare this page to the rattling detailed specification at Givaudan. HBGlobal does non fifty-fifty allow its production specifications to live on indexed on Google. (Go on – await at the page – it is pictures of text, non text, too thence non indexed.)
I went looking for all the chemicals inwards my wife's perfume on Alibaba. I could non notice Huabao every bit a supplier. Nor could I notice HBGlobal.
I googled “+Huabao. +citral” too the essence reference I found was to Jishui Huabao Natural Medicated Oil Factory existence a buyer of citral. Similar results were obtained for other chemicals.
I did this amongst lots of combinations of chemicals too the build names they operated nether (at to the lowest degree the build names they operated nether according to the HBGlobal website).
The website states that Kongque is a long established food additives brand inwards China. Kongque turns upward inwards i index as one of literally twoscore pages of suppliers for nutrient flavour additives. Here is their entry which tells you lot goose egg almost them but gives a express arrive at of products (Lecithin, Foodstuff Essence, Flavor, Collagen Protein, Stuff Additives, Trichloromethyl Sucrose, Crystalline Fruit Sugar, Phosphate, Water-retaining). I select no persuasion what "stuff additives" are - and Trichloromethyl Sucrose is also a foreign production - according to some links a sweetener 8000 times every bit sugariness every bit sugar - but I can't notice whatever non-Chinese references to it. Moreover this claim is probable false: saccharine is commonly persuasion to 300-500 times every bit sugariness every bit sugar and that is sweeter than most of the other criterion carbohydrate substitutes.
This tiny listing of lightly specified products does non compare favorably to the sophisticated listing at Givaudan.
For the life of me I can't move out what Huabao does that makes it so profitable – I can't move out what chemicals it makes, what products it sells too why it manages to exercise so amongst much less interrogation too evolution than Givaudan (or International Flavors too Fragrances).
Still Huabao must live on real. You run into it is audited past times Price Waterhouse Coopers, it is non a contrary merger too it is listed on the Hong Kong Stock telephone substitution – too nosotros know that the HKSE is far to a greater extent than honest than the contrary mergers inwards the US. Mr Charles Li, the CEO of the HKSE told us.
So – if whatever of my readers know to a greater extent than almost the flavors too fragrances work concern than you lot tin larn from reading Wikipedia too a perfume label too looking at Alibaba volition you lot permit me know.
Please.
Meanwhile – on the footing I can't empathise whatever of this I am curt on behalf of my clients. Super-fat margins inwards a chemic companionship almost devoid of interrogation too evolution does non audio rattling sustainable to me.
My readers are a clever lot – so if you lot tin assistance me, or verbalize me out of this seat I would live on thrilled.
Thanks inwards advance.
John
Post scripts: Some commentators select suggested that this companionship is a contrary merger - going populace via the dorsum door inwards 2006. I select non checked.
Also some commentators select suggested that Trichloromethyl Sucrose is the sweetener known inwards the USA nether the build advert "splenda". The 8000 times every bit sugariness every bit carbohydrate statistic sort of matches - too splenda has 3 chlorine atoms inwards the construction so mutual frigidness live on "trichloro" every bit per the name. But I am non certain where the methyls (ie CH3s) come upward in. There is a construction illustrated here.
This is the sort of affair that gives a tight-wad similar me nightmares.
H5N1 distich of hours afterwards they returned amongst their bags. My married adult woman was wearing a novel perfume which I form of liked.
I would select told her I liked it fifty-fifty if I was completely indifferent (she is my dear wife) but I could say it honestly. It was Chanel Gardenia.
This was almost a calendar month earlier our 10th marriage anniversary so I had solved the gift work – or so I thought. Later I popped downwardly to DJs (think Nordstrom for Australia) and Myer (the also-ran subdivision store) looking for Gardenia. No chance. Eventually a client took compassion on me too told me you lot could solely notice this at the Chanel shop.
I could run into the nib going up.
I found the Chanel store inwards a component division of the mall I never take in too the shopkeeper (an elegant adult woman inwards high-heels who looked straight off through me) eventually showed me the perfume which came solely inwards sizable too expensive bottles. Three minutes afterwards too $230 lighter I had my gift.
Mission accomplished.
Australian labeling laws demand that Chanel specify some of the ingredients. Here is the label (now somewhat decayed):
It is a pretentious label. They telephone outcry upward H2O “Aqua”. Guess they can't convey themselves to acknowledge they sell H2O at almost $1000 per litre. Alcohol is the master copy element – likely a adept proportion of the total. Most the residual I had never heard of.
Being an inquisitive type I looked them upward – I fifty-fifty looked on Alibaba for the terms (per tonne) of these chemicals so I could larn some persuasion of how much I was existence ripped off past times the fancy box too the elegant lady inwards high-heels. It spoiled the romance but was educational. According to Wikipedia, Citral is a 3,7-dimethyl-2,6-octadienal or lemonal, is either of, or a mixture of, a pair of terpenoids. The E-isomer is known as geraniol (also an element of the perfume). It is pheremonal inwards insects (and inwards the promise – likely vain - of the perfume manufacturer pheremonal inwards humans too). There are lots of suppliers on Alibaba – to a greater extent than oft than non past times the barrel. Most of these are distributors for Givaudan – a Swiss flavors too fragrances business.
Linalool is a major fragrance chemic used – according to Wikipedia – inwards 60-80 pct of “perfumed hygene products” too also past times pest-professionals every bit an insecticide. (Note what this perfume does – drives insects wild amongst pheremones too kills them. Think what it tin exercise for you!) Again most the distributors on Alibaba are distributors for Givaudan. You tin purchase it here for $5 a kilogram too they volition sell you lot 1000 tonnes per month. It is kosher (and Halal) too!
From at that spot I went looking at Givaudan – the companionship that likely manufactured this fragrant “Aqua”. It is an interesting companionship amongst an enormous website containing technical specifications (instructions, FDA approvals etc) for the thousands of flavors too fragrances it manufactures. When you lot run into apple-pie too cheesecake flavored yogurt what you lot are seeing is their fine Swiss technology. There are - if you lot exercise a Google count - almost xi 1000 pages on this website. This is a sophisticated too wide-reaching business.
Givaudan is an interesting stock (we intend almost it every bit a long) too it is currently trading fairly depression relative to sales vis its history. It is the technological leader inwards flavors too fragrances.
Here is its P&L inwards Swiss Francs for the past times 2 years...
This companionship does CHF336 1000000 (almost 400 1000000 dollars) a yr inwards interrogation too development. That is what your cheesecake flavored yogurt too Britany perfume terms to develop. This R&D is a pretty company barrier to entry. After quite considerable distribution costs (you select to involvement the nutrient manufacturer inwards the bizarre terpanoid you lot select developed) too considerable R&D Givaudan winds upward amongst operating income of 13.1 pct of sales.
There is some other flavors too fragrances companionship – International Flavors too Fragrances – that used to live on the leader too is however the leader inwards tobacco flavoring (a declining work concern I would guess). IFF is good known to people who select read the investment classic “Common Stocks too Uncommon Profits”. IFF had a tech leadership for generations too was a fantastic stock - it is however non a bad one. Somehow (I don't know how every bit I exercise non select the history) it ceded much of that leadership to Givaudan.
All rattling interesting too grist for the retentiveness bank.
Recently I came by Huabao – a Chinese flavors too fragrances companionship listed on the Hong Kong stock exchange. Market cap is almost twenty billion Hong Kong dollars - almost 2.5 billion USD.
The spider web site clearly is non every bit sophisticated every bit Givaudan. Counted pages on the site in Google full 49.
Huabao has a marketplace seat cap of a chip over a 3rd of Givaudan, too is a foreign beast. Like IFF it claims to live on primarily a tobacco flavorant. Here is the P&L.
Huabao it seems is a really miraculous business. Gross net turn a profit is over lxx percent. Marketing too distribution expense is lxxx 1000000 Hong Kong dollars – roughly a twentieth of Givaudan. Research too evolution expenses are 73 1000000 HKD – a picayune over 10 1000000 or almost a fortieth of Givaudan's expense.
Profit earlier taxation is 1871 1000000 Hong Kong dollars on full sales of 2852 1000000 HK dollars. That is 65 pct of sales too it compares (very) favorably amongst thirteen pct at Givaudan of sales.
Huabao gets superior margins – nay vastly superior margins – whilst doing much less R&D too having much less selling expense. Truly miraculous. Givaudan – the putative technical leader – should spotter out.
I wanted to move out what Huabao really sold – what R&D they had – what engineering scientific discipline they had that justified their superior returns. Alas this was difficult. You see HBGlobal.com is non a rattling informative website.
Here – inwards pictures – is the page (yes i page) that describes their production set.
Compare this page to the rattling detailed specification at Givaudan. HBGlobal does non fifty-fifty allow its production specifications to live on indexed on Google. (Go on – await at the page – it is pictures of text, non text, too thence non indexed.)
I went looking for all the chemicals inwards my wife's perfume on Alibaba. I could non notice Huabao every bit a supplier. Nor could I notice HBGlobal.
I googled “+Huabao. +citral” too the essence reference I found was to Jishui Huabao Natural Medicated Oil Factory existence a buyer of citral. Similar results were obtained for other chemicals.
I did this amongst lots of combinations of chemicals too the build names they operated nether (at to the lowest degree the build names they operated nether according to the HBGlobal website).
The website states that Kongque is a long established food additives brand inwards China. Kongque turns upward inwards i index as one of literally twoscore pages of suppliers for nutrient flavour additives. Here is their entry which tells you lot goose egg almost them but gives a express arrive at of products (Lecithin, Foodstuff Essence, Flavor, Collagen Protein, Stuff Additives, Trichloromethyl Sucrose, Crystalline Fruit Sugar, Phosphate, Water-retaining). I select no persuasion what "stuff additives" are - and Trichloromethyl Sucrose is also a foreign production - according to some links a sweetener 8000 times every bit sugariness every bit sugar - but I can't notice whatever non-Chinese references to it. Moreover this claim is probable false: saccharine is commonly persuasion to 300-500 times every bit sugariness every bit sugar and that is sweeter than most of the other criterion carbohydrate substitutes.
This tiny listing of lightly specified products does non compare favorably to the sophisticated listing at Givaudan.
For the life of me I can't move out what Huabao does that makes it so profitable – I can't move out what chemicals it makes, what products it sells too why it manages to exercise so amongst much less interrogation too evolution than Givaudan (or International Flavors too Fragrances).
Still Huabao must live on real. You run into it is audited past times Price Waterhouse Coopers, it is non a contrary merger too it is listed on the Hong Kong Stock telephone substitution – too nosotros know that the HKSE is far to a greater extent than honest than the contrary mergers inwards the US. Mr Charles Li, the CEO of the HKSE told us.
So – if whatever of my readers know to a greater extent than almost the flavors too fragrances work concern than you lot tin larn from reading Wikipedia too a perfume label too looking at Alibaba volition you lot permit me know.
Please.
Meanwhile – on the footing I can't empathise whatever of this I am curt on behalf of my clients. Super-fat margins inwards a chemic companionship almost devoid of interrogation too evolution does non audio rattling sustainable to me.
My readers are a clever lot – so if you lot tin assistance me, or verbalize me out of this seat I would live on thrilled.
Thanks inwards advance.
John
Post scripts: Some commentators select suggested that this companionship is a contrary merger - going populace via the dorsum door inwards 2006. I select non checked.
Also some commentators select suggested that Trichloromethyl Sucrose is the sweetener known inwards the USA nether the build advert "splenda". The 8000 times every bit sugariness every bit carbohydrate statistic sort of matches - too splenda has 3 chlorine atoms inwards the construction so mutual frigidness live on "trichloro" every bit per the name. But I am non certain where the methyls (ie CH3s) come upward in. There is a construction illustrated here.
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