Romanian Farmec’s domestic sales in brand stores reach 1 mln euro in H1

Romanian cosmetics producer Farmec said on Wednesday it has posted domestic sales of over 1 million euro ($1.15 million) in the first half of the year in its 19 brand stores across the country, according to SeeNews.com.

The result was due to increased success of Farmec’s Gerovital brand, which accounted for 50% of total sales during the period January-June, the company said in a press release.

“The value of sales in brand stores confirms that Romanians appreciate these spaces. This year, we have expanded our own retail network with eight new Gerovital spaces,” Farmec business development manager, Valentin Peter, said. “By the end of the year, we are going to open new locations to get closer to Romanians from all over the country.”

In June, Farmec said it has opened three new stores in northern Romania following investment of 165,000 euro.

The company’s total sales grew by 14% on the year to 197 million lei ($50 million/43 million euro) in 2016.

In January, Farmec said it plans to open 15 new stores in Romania and increase sales turnover by 15% in 2017.

The company also said it will seek new partnerships for opening new stores abroad. At present, it has eight stores outside Romania – in Italy, Spain, Hungary, France, Greece and the United Arab Emirates (UAE).

Farmec sells its products in over 30 markets, the biggest being Japan, Hungary, Greece, Macedonia, Moldova, UAE, Iraq, Kuwait and Canada.

 

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