Posts Tagged ‘Oriflame’

Approval of Oriflame Merger Set for Sept. 30

af Jochnick Family

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’…

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India Bans E-commerce Giants from Selling Amway, Oriflame Products

e-commerce

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,…

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Oriflame Board to Apply for Delisting from Stockholm Nasdaq

delisting of Oriflame

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…

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The af Jochnick Family Offers $1.3 Billion for Oriflame

af Jochnick Family

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…

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Oriflame Co-Founder Jonas af Jochnick Passes Away

Jonas af Jochnick

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.…

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Q1 Results: Mannatech Down 8%; Oriflame Down 6%

first quarter

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…

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Oriflame Achieves €1.3 Billion in Revenue for 2018

delisting of Oriflame

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…

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Oriflame Euro Sales Down 1%, Local Currency Sales Up 4%

Oriflame

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…

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Growth 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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