Posts Tagged ‘Oriflame’
Approval of Oriflame Merger Set for Sept. 30
The Board of Directors of Oriflame Holding AG has set a meeting on September 30 for approval of the merger with Walnut Mergeco AG, a Swiss entity 100 percent owned by Walnut Bidco Plc. Following the delisting of Oriflame on July 17, the Board has resolved to call the remaining shareholders to an Extraordinary General Shareholders’…
Read MoreIndia Bans E-commerce Giants from Selling Amway, Oriflame Products
The Delhi High Court has banned e-commerce giants including Amazon and Flipkart from selling Amway and Oriflame products on their platform without prior consent. Amway and Oriflame, along with multi-level marketing company Modicare, filed a complaint against e-commerce platforms such as Amazon, Flipkart, 1MG, and Snapdeal for selling products on their platforms at discounted prices,…
Read MoreOriflame Board to Apply for Delisting from Stockholm Nasdaq
Walnut Bidco Plc recently announced that all conditions for completion of its public offer to the shareholders of Oriflame had been satisfied. The company, newly established by members of the Oriflame founding families of Robert af Jochnick and the late Jonas af Jochnick, also stated that the offer was declared unconditional at a Walnut Bidco ownership…
Read MoreOriflame Bid Committee Recommends Shareholders Accept af Jochnick Family Offer
The Independent Bid Committee of the Board of Directors of Oriflame Holding AG has recommended shareholders accept the offer from the af Jochnick family to buy all shares of the company. On May 22, Walnut Bidco Plc, a newly established company indirectly wholly owned by members of the founding families of Robert af Jochnick and…
Read MoreThe af Jochnick Family Offers $1.3 Billion for Oriflame
Swedish cosmetics giant Oriflame recently announced it has received an offer valuing it at $1.3 billion from the af Jochnick family that founded it back in the 1960s. By proposing a 35 percent premium over Tuesday’s closing price, the family is hoping to build on the roughly 30 percent stake it already has in Oriflame…
Read MoreOriflame Co-Founder Jonas af Jochnick Passes Away
Jonas af Jochnick, co-founder of direct selling giant Oriflame Cosmetics, died suddenly last Friday. The 81-year-old Swedish entrepreneur and businessman, who founded Stockholm-based Oriflame with his brother Robert in 1967, passed away peacefully in his sleep. He had been active in various positions in the company, and stepped down from the Company’s board in 2018.…
Read MoreQ1 Results: Mannatech Down 8%; Oriflame Down 6%
Flower Mound, Texas-based Mannatech, Incorporated (NASDAQ: MTEX) recently announced net sales of $38 million for the first quarter of 2019. The net sales represented a decrease of $3.4 million, or 8.2 percent, as compared to $41.4 million in the first quarter of 2018. Income from operations increased to $1.1 million for the first quarter 2019, from a loss of $0.9 million in the same period in…
Read MoreOriflame Achieves €1.3 Billion in Revenue for 2018
Oriflame (ORI-SS—Stockholm) recently announced financial results for the full year ending December 31, 2018. The cosmetics giant achieved €1.3 billion in revenue for 2018. Sales were up 2 percent in Latin America, 1 percent in Europe and Africa, and 7 percent in Asia and Turkey. Sales in the CIS region were down 3 percent. “2018 was a year…
Read MoreOriflame Euro Sales Down 1%, Local Currency Sales Up 4%
Oriflame (ORI-SS—Stockholm) announced financial results for the third quarter ending September 30, 2018. Euro sales decreased by 1 percent to €292.5 million. Euro sales amounted to €279.4 million in accordance with IFRS. Local currency sales increased by 4 percent. The number of registered actives was stable and amounted to 2.7 million. For the nine months…
Read MoreGrowth of Global Hair Care Market Good News for Direct Sellers
The global hair care market is expected to reach approximately $110.70 billion in 2024. According to a new report by Zion Market Research titled “Hair Care Market by Product and by Distribution Channel: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017–2024,” the market was valued at around $89.08 billion in 2017 and is expected to…
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