The company’s plans target the expansion of its store chain, including in franchise system.
Farmec is Romania’s leading cosmetics manufacturer, being valued at RON3.5 billion. The company competes against international companies, such as L’Oreal, Beiersdorf (Nivea), and with Romanian small—sized producers, such as Cosmetic Plant.
Farmec plans to keep expanding its brand store chain and external sales and developing its portfolio of innovative products. It also plans to keep franchising its business, both locally and globally. Farmec currently has seven stores in Europe, of which three in Spain, two in Italy, one in Greece and one in Hungary.
Farmec has opened three Gerovital stores in Oradea, Cluj-Napoca and Constanta, respectively, since the start of 2018, reaching 24 Farmec and Gerovital brand stores in Romania. Farmec is the first and only Romanian cosmetics manufacturer with an own chain of brand stores.
Farmec currently has 760 employees and plans to hire more people, considering its expansion plans. The company ended 2017 with a turnover of over RON214 million (EUR45.8 million), up 9% versus 2016.