EnglishFarmec Cluj, the market leader in the Romanian cosmetics industry, will open three shops in Europe by the end of 2008, the first being scheduled to open in Budapest by the end of 2007. According to the company"s management, Farmec takes this step in order to be closer to its European customers and due to increasing demand for Gerovital H3 products.
The European shops will sell mainly products from the Gerovital H3- Ana Aslan line. According to company representatives "the Gerovital H3 line accounts for 90% of Farmec"s total exports. Following the opening of the new shops, Farmec estimates a significant increase in revenues from foreign markets.
Farmec Cluj relaunched the Gerovital H3 line in Novermber last year with a powerful advertising campaign, which triggered a 60% increase in sales volume.
The company reported a gross profit of 2,5 million EUR for 2006, up 55% year-on-year. This growth is mainly due to an increase in turnover, from 17 million EUR in 2005 to 19 million EUR in 2006, and the modernization of production facilities, which reduced overall costs.
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