Magnus Brannstrom, CEO and president of Swedish direct selling company Orifame, doesn’t believe in mincing words. Founded in 1967, Oriflame has a sizeable presence in 60 plus countries, with over 3 million beauty consultants, generating annual sales of around €1.2 billion.
In India, it’s been battling headwinds since its debut in 1996. “The first 20 years were very tough in terms of profitability,” confesses Brannstrom. He claims India is now profitable but declines to share numbers, citing global policies. Asserting that India is among the Top 5 markets for Oriflame, he contends that the Indian obsession with white skin is not unique. “The grass is always greener on the other side,” he grins, adding that while Indians want to look white, Westerners are keen to get tanned.
Over 20 years in India, how has the journey been so far?
India is among the top five countries. The first 20 years were very tough in terms of striking profitability. The sales prices are very low compared to other countries. So it’s hard to make money. It has been a long journey towards profitability. But Oriflame has been able to endure because of the long-term opportunities. Now we are happy with the business; the