Oriflame Slides in First Half

For the three months ended June 30, 2015, Oriflame’s sales were down 3% to €301.0 million ($334.5 million) and for the first half of the year, sales fell 5% to €608.9 million ($676.7 million), according to the Swedish beauty company.

“We are pleased with the development in our key growth markets in Latin America, Turkey, Africa & Asia contributing with 48% of the total group sales during the second quarter,” said CEO Magnus Brännström. “The strong growth in China continues and is now an increasingly important part of the business.”   

According to Brännström, further substantial price increases to offset the devaluation in CIS, foremost in Russia and Ukraine, were implemented according to plan with adverse effect on volumes.

“Although a promising start in the third quarter, positively impacted by timing within the quarter, reversing the volume trend for the group remains a challenge.  We continue to experience success from active online leaders as well as sales of skin care and wellness sets and routines – two important strategic building blocks for all our markets,” he said.