Expansion into the United States and Brazil could come in the not-too-distant future for Oriflame, the Swedish cosmetics maker that currently counts Russia as its largest market.
The Swiss company’s CEO, Magnus Brannstrom, who will keynote the DSN Global 100 Celebration in April, told DSN that Oriflame is looking to enter the two major markets within a few years.
In 2014, Brazil was the fifth-largest market for direct sales, according to the latest data from the World Federation of Direct Selling Associations. The market accounted for 7 percent of global revenue, trailing only the U.S. and Asia-Pacific powerhouses China, Japan and Korea.
The focus on new markets comes as Oriflame seeks to recover from turmoil in Russia and Ukraine, another key market. Brannstrom said he is “cautiously optimistic” about 2016, after the company’s mid-February