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Romania's Farmec opens new Gerovital store

Romania's Farmec opens new Gerovital store Romanian cosmetic company Farmec Author (Farmec) License: all rights reserved.

BUCHAREST (Romania), July 26 (SeeNews) – Romanian cosmetics producer Farmec on Thursday has opened a new Gerovital store in the northwestern city of Cluj-Napoca.

Thе Gerovital store is Farmec's second in Cluj-Napoca and its 15th in Romania, it said in a press release.

The store has an area of 51 sq m and is located in Iulius shopping center.

In April, Farmec said it plans to invest 11 million lei ($2.9 million/ 2.4 million euro) in upgrades and expansion projects in 2018.

Farmec will invest mostly in upgrading and modernising its production lines, but also in the development of its network of brand stores, both at the national and international level, it said at the time.

In 2017, Farmec's turnover increased by 9.12% on the year to  214 million lei on the back of portfolio expansion and upgrade, and the penetration into new market segments. In 2018, the company expects a similar growth rate.

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

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

The company's local brand chain of stores comprises 8 Farmec stores and 15 Gerovital stores.

(1 euro = 4.6611 Romanian lei)

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