Farmec Eyes Retail Expansion To Poland, Ukraine And Moldova

04.26.2011 By Florentina Dragu

Romanian cosmetics producer Farmec Cluj-Napoca plans to expand its international retail network to include the markets in Poland, Ukraine and Moldova, the company said Tuesday.

Romanian cosmetics producer Farmec Cluj-Napoca plans to expand its international retail network to include the markets in Poland, Ukraine and Moldova, the company said Tuesday.

"We plan to increase our sales in Hungary and to expand our operations on new markets in Poland, Ukraine and Moldova," Farmec said.

Founded over 120 years ago, Farmec was privatized through management and employee buy-out (MEBO) in 1995. The company produces and sells a wide range of cosmetic products in over 40 countries worldwide, including brands such as Ana Aslan, Gerovital H3, Gerovital Plant, Aslavital and Farmec.

The company reported net profit of 5.17 million lei (around EUR1.1 million) in 2010, on turnover of RON95.9 million. Total exports rose 8% on the year to RON1.8 million.

For 2011, Farmec estimates a net profit of RON6.78 million and turnover of RON103.2 million. (EUR1=RON4.0735)