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IFF Partners with Amkiri, Boosts Innovation Platform

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International Flavors and Fragrances partners with Amkiri

On May 24, International Flavors and Fragrances announced that it would partner with Amkiri—an Israeli-based startup that was founded in 2014. On March 22, Amkiri launched a new ink that can be drawn on the skin. The new ink has a long-lasting scent. International Flavors and Fragrances is always focused on innovation. The partnership boosts International Flavors and Fragrances’ innovation platform.

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Amkiri has patented Visual Fragrance, which could be a sensational product in body art business. Andreas Fibig, International Flavors and Fragrances’ chairman and CEO, said, “This is a significant innovation in the fragrance category, merging strong and deeply personal visuals with the resonance and emotion of fragrance. The Visual Fragrance technology creates a new platform from which IFF can showcase our capabilities, including naturals, molecules, and cosmetic actives. The potential for innovative applications are nearly endless and our teams are truly inspired by the possibilities.”

International Flavors and Fragrances’ stock price

The investor community isn’t very excited about the development. International Flavors and Fragrances stock declined 0.8% and closed at $125.39 for the week ending May 25. International Flavors and Fragrances, which declined after its definitive agreement to acquire Frutarom, continued to trade below its 100-day moving average price. International Flavors and Fragrances traded 10.8% below the 100-day moving average price of $140.57, which indicates a downward trend in the stock. The increase in the short interest as a percentage of outstanding shares has increased, which indicates the bearish sentiment on International Flavors and Fragrances stock. International Flavors and Fragrances’ 14-day relative strength index is at 36—just above the “oversold” position.

Investors can hold International Flavors and Fragrances indirectly by investing in the Vanguard Materials ETF (VAW). VAW, which invests 1.1% of its portfolio in International Flavors and Fragrances, declined 1.4% for the week. The fund also provides exposure to Monsanto (MON), LyondellBasell (LYB), and Air Products and Chemicals (APD) with weights of 6.0%, 4.1%, and 3.9%, respectively, as of May 25.

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