ROMANIA: Farmec aims to exceed the 200 million lei treshold in 2017 | Progresiv
Local cosmetics producer Farmec ended 2016 with a turnover of 196.8 million lei (43.8 million euros), up by 14% compared to 2015. This year the company has decided to increase the business by over 10% by strengthening existing brands, new product launches and ambitious plans for expansion of the store chain across the country. 
"The results achieved in 2016 demonstrate once again that Farmec maintains its position between the most successful companies on the local cosmetics market. Through a solid business strategy, we even managed to surpass the targets set for the last year", said Mircea Turdean, General Manager of Farmec.
The company's online sales increased by 25% last year, after they exceeded the threshold of 1 million euros in 2015. According to Nielsen market data, Gerovital continued in 2016 in the position of market leader in the skin care segment (with a market share of 23.3%) as well as in the hair care segment ( with a market share of 25.9%).
In 2016, the company opened eight new stores, including the first three Gerovital stores in Romania, launching at the same time 60 new products and Gerovital Plant, Farmec Depilatories and Gerovital SUN ranges.
Farmec currently owns 11 stores nationwide and wants to reach by the end of the year to 26 units. Abroad, the company opened so far, in collaboration with local partners, 7 Gerovital stores in Italy, Spain, Hungary, France and Greece.
