Indian antitrust authorities have reopened an investigation into possible price-fixing in the country's fragrance industry, targeting Swiss-based Givaudan, DSM-Firmenich and U.S. rival International Flavors & Fragrances (IFF).
The Competition Commission of India (CCI) confirmed it is examining alleged collusion since 2024, according to a document reviewed by Reuters. The regulator had submitted an investigative report to the companies in February, but withdrew it in July after Givaudan and IFF objected that confidential business information had not been properly redacted. The CCI must now revise the report, potentially prolonging a probe that has already been ongoing for roughly two years.
The fragrance sector has faced multiple antitrust probes globally. In Europe, Swiss and British competition authorities launched separate investigations in 2023 into potential collusion within the industry. Separately, Indian regulators are also scrutinizing allegations that fragrance companies colluded to avoid poaching each other's employees.
Givaudan and DSM-Firmenich declined to comment when contacted by Reuters regarding the latest CCI investigation.
