With many Greek companies cutting back and losing revenues during a crushing economic crisis, the popular cosmetics brand Korres continued to increase its sales in international markets in the first trimester of 2013, according to the group’s financial results report that showed it continued to do well in a number of other countries.
The group achieved an 18% growth for its priority international markets, including Germany, France, UK, Russia and Scandinavia. In Greece, despite a marginal sales decrease of 1.5%, Korres improved its market share in the pharmacy market where its products occupy prime space in competition against such rivals as Apivita.
The group achieved a positive operating cash flow of 1.6 million euros ($208 million) from a loss of 1.3 million euros ($1.69 million) in the first quarter of 2012. Korres emerged in 1996 and, spurred by the trend toward natural products, it has grown into an internationally established skincare brand, EnetEnglish reported.
The company says it aims to further grow its brand presence through new product categories, new products and promotional activities. In 2009 cosmetics giant Johnson & Johnson acquired full licensing rights for Korres products in the US.
Named after its founder George Korres, the company today counts 23 stores in the cities of Athens, Paris, Madrid, Helsinki, Dubai, St Petersburg, Prague, Barcelona and Singapore amongst others. Its products are also sold at exclusive department stores in Tokyo, Los Angeles, Milan, Berlin, Sydney, New Delhi, Hong Kong and in over 6,000 pharmacies in Greece.
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