As a matter of fact, the company has been in the red ever since it entered the market.
“There are two aspects to consider when analyzing the financial results. On the one hand, we doubled turnover in 2023 against 2022 in all sales channels. On the other hand, losses widened and the reason is the need to open Viorica Cosmetic direct stores to secure proximity to end clients. We are talking about investments in opening, but also in maintaining them operational,” says Dumitru Petrascu, Viorica Cosmetic Romania CEO.
Viorica entered Romania in 2017, with a first store in Iasi and two years later expanded to Bucharest. Today, there are 12 units in the main cities of Romania.
(English version by Catalina Apostoiu)