BUCHAREST (Romania), March 28 (SeeNews) – Romanian cosmetics producer Farmec said on Monday it plans to open at least five stores this year.
Two of the stores will be located in Romania's capital Bucharest, sales manager Codrean Pop said in a press release, without disclosing the location of the other three stores.
Farmec said it will continue to invest in its online store, which generated over 1 million euro ($1.1 million) in sales in 2015, mostly to foreign customers.
The company's total sales grew by 13% on the year to 172.5 million lei ($42.1 million/38.5 million euro) in 2015.
Currently, Farmec's products are present in over 30 markets, the biggest being Japan, Hungary, Greece, Macedonia, Moldova, UAE, Iraq, Kuwait and Canada.
In 2015, Farmec invested 50,000 euro in the upgrade of one of its major stores in Cluj Napoca. It plans to upgrade all of its stores by the end of the year, following an investment of 200,000 euro, the company said in a statement in November.
In February, the company won a 15 million euro trial against Romania's fiscal authority ANAF over excise duties, interest and penalties it was requested to pay for denatured alcohol used between January 2007 and December 2011 for the manufacture of three cleaning products.
Farmec is headquartered in the northwestern city of Cluj-Napoca where it has a production plant with over 600 employees. It manufactures some 400 products which it sells in more than 30 countries.
(1 euro=4.4619 Romanian lei)