"2010 is a wonderful opportunity to bring true value and excellence to consumers," says Steve Hicks, P&G's director of flavor and fragrance development global capability organization. Far from viewing the financial crisis as a threat, Hicks has identified several opportunities for fragrance companies to survive and thrive. He acknowledges that the last 18 months have been tough for the industry, and that a return to profitability and historical growth curves is paramount. And so, he asks, "How does this industry compete in the new world?" The answer to that question will define those companies still standing in 2020, says Hicks. "It's a challenging decade to come, but there are wonderful opportunities for innovation and growth."
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