You have 10 free articles left this month. Get your freeBasic subscription now and gain instant access to more.

Romanian cosmetics firm Farmec to add stores, boost turnover in 2017

Romanian cosmetics firm Farmec to add stores, boost turnover in 2017 Romanian cosmetic company Farmec Author (Farmec) License: all rights reserved.

BUCHAREST (Romania), January 31 (SeeNews) – Romanian cosmetics producer Farmec said on Tuesday it plans to open 15 new stores in the country and increase sales turnover by 15% in 2017.

Some of the 15 stores will be located in big shopping centers, Farmec sales manager Codrean Pop said in a press release.

Last year, Farmec opened 8 new stores in Romania, taking the total number of units to 11. The company is present in Cluj Napoca, Bucharest, Sibiu, Timișoara, Brasov, Constanta, Arad and Targu Mures.

"We expect a 15% increase of our turnover in 2017," Codrean Pop said.

The company also said it will seek new partnerships for opening new stores abroad. At present, it has 8 stores outside of Romania, located in Italy, Spain, Hungary, France, Greece and the United Arab Emirates (UAE).

Currently, Farmec's products are present in over 30 markets, the biggest being Japan, Hungary, Greece, Macedonia, Moldova, UAE, Iraq, Kuwait and Canada.

The company's total sales grew by 13% in 2015, reaching 172.5 million lei ($42.1 million/38.5 million euro), according to figures posted on the finance ministry's website.

In November, Farmec opened a new logistics center in Dolj, in southern Romania, with an area of 276 sq m. It currently operates ten logistics centers in the country - in Timisoara, Cluj, Baia Mare, Craiova, Pitesti, Bucuresti, Constanta, Focsani, Iași and Brasov.

Farmec is headquartered in the northwestern city of Cluj-Napoca where it has a production plant with over 600 employees.

(1 euro=4.5038 Romanian lei)