Oriflame celebrated its 58th anniversary this week. A beauty company launched in 1967 by brothers Jonas and Robert af Jochnick and their friend Bengt Hellsten, Oriflame built its foundation on helping entrepreneurs capture their potential through social selling and unique beauty products inspired by nature.

Oriflame is in the process of implementing a cost and efficiency program designed to increase profitability and secure long-term growth. This program aims to create a more lean and agile organization and is expected to provide an annual cost savings of $57 million upon completion.