Cramer: Fragrance stock enjoys smell of success

(Click for video linked to a searchable transcript of this Mad Money segment)

On Wall Street, there's a fragrance stock that's as sought after as the famous and fashionable who endorse its perfumes.

It's International Flavors and Fragrances.

"They create proprietary compounds that have a specific taste or scent and then license these flavors and fragrances out to the food, beverage and soft goods companies that are always desperate for even the slightest edge against their many competitors," explained Cramer.

Plush Studios | Digital Vision | Getty Images

Shares of IFF, the company behind Estée Lauder's 'Beautiful', Calvin Klein's 'Euphoria', and Ralph Lauren's 'Polo Blue' to name but a few, have been very much in demand; they've advanced 5 percent in a month and more than 20 percent over a 1 year period.

Cramer believes recent earnings confirm the advance

"It earned $1.32 per share, a 7-cent beat, on higher than expected revenues that were up 5.8 percent year over year, with both the flavor and fragrance sides of the business showing strong momentum."

"We're always looking for new opportunities," said Doug Tough, the chairman and CEO of International Flavors & Fragrances as he explained ways in which IFF grows its business. "Our secret sauce is that we understand consumer insights. We have labs all over the world and we locally adapt what consumers are looking for, all over the world."

Also Tough added, "we've got good technology and that's also helping us win new business opportunities (too) and that's why we're growing faster than the market.

Cramer likes the business. In fact he has for a while.

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"It was one of the first stock's I recommended when I worked at Goldman Sachs in the '80's." Since that time shares have advanced more than 1000% "Boy am I glad that I did."

"Take a look at IFF," Cramer added. "I think you'll be glad you did."

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