Clean Break: the company completely halting Russian engagements or exiting Russia
Leave Withdrawal
Oriflame is a Swedish-Swiss multinational multi-level marketing company, that sells beauty and personal care products.
Clean Break: the company completely halting Russian engagements or exiting Russia
Leave WithdrawalAccording to the company's annual report published on February 14, 2013, sales of the CIS & Baltics division in 2012 amounted to 800 million euros, which is more than half of the company's total sales (1489.3 million euros) in the world. Partial sale - SETES COSMETICS LLC (tax id 5024055294) was sold. But still no changes in the register for a key company - Oriflame Cosmetics LLC (tax id 7704270172). Oriflame, as part of a previously announced strategic review of its assets in Russia, has chosen to divest its manufacturing entity within the country. The company has already signed a binding agreement with Arnest Management LLC (Arnest), who will acquire 100% of the shares in Cetes Cosmetics Russia.
The company suspends online sales to end-users and also suspends investments, marketing, training and events. According to the previous statement, there will be no exports of products from Russia to the global warehouse in Europe. The production from the Russian factory is being redistributed to other manufacturing sites. Oriflame, as part of a previously announced strategic review of its assets in Russia, has chosen to divest its manufacturing entity within the country. The company has already signed a binding agreement with Arnest Management LLC (Arnest), who will acquire 100% of the shares in Cetes Cosmetics Russia.