Oriflame, as a part of a beforehand introduced strategic overview of its property in Russia, has chosen to divest its manufacturing entity throughout the nation. The corporate has already signed a binding settlement with Arnest Administration LLC (Arnest), who will purchase 100% of the shares in Cetes Cosmetics Russia.
Arnest is the biggest producer of fragrance, beauty and family merchandise offered in aerosol packages in Russia, and can preserve safe employment for these working within the manufacturing unit, in addition to present an ongoing provide of merchandise to shoppers, together with these buying Oriflame merchandise.
The transaction is anticipated to finalize within the second quarter of this yr.
