Now Oriflame agrees sale of Russian arm

THE WHAT? Oriflame has become the latest beauty firm to announce the sale of assets in Russia, according to a report published by Direct Selling News. The deal is expected to close in the second quarter of the year.

THE DETAILS The Swedish direct sales firm has signed a binding agreement with Arnest Management to sell 100 percent of the sales in Cetes Cosmetics Russia, Oriflame’s manufacturing entity in the country.

THE WHY? The sale forms part of a previously announced strategic review of Oriflame’s assets in Russia following the country’s invasion of Ukraine.

The post Now Oriflame agrees sale of Russian arm appeared first on Global Cosmetics News.

You may also like

Leave a reply

Your email address will not be published. Required fields are marked *

More in Beauty