Oriflame India Private Limited, the Indian arm of Swedish direct selling cosmetics company Oriflame, will break even by the year 2008-09.
It has invested over $20 million in the country over the past decade.
Speaking to Business Standard, Tomas Eriksson, managing director of Oriflame India, said, “We have been present in India for ten years now and the company has invested a sum of over 20 million USD. The company expects to break even as the necessary infrastructure has been put into place. I think the break-even should take place by 2008-09.”
Without disclosing sales in the country, Eriksson said Gujarat accounted for about five per cent of the total sales of Oriflame in India.
“Oriflame has been outperforming the growth in the industry although there are no definitve figures on the growth of the cosmetic industry in the country,” he said.
In Ahmedabad to inaugurate the eleventh branch of Oriflame India, Eriksson said the company will continue to expand its footprint across the country and would double the number of branches over the next three or four years.
More: business-standard.com
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