Oriflame Intl. buys remaining stake in Oriflame India

By Our Corporate Reporter

CHENNAI, SEPT. 20. The Swedish-based Oriflame International, which holds 85 per cent stake in Oriflame India, has acquired the remaining 15 per cent stake thereby making Oriflame India, a 100 per cent subsidiary of the parent company, according to Mr. Peter Hauggaard, Regional Manager - India and Sri Lanka, and Chief Executive Officer, Oriflame India.

Mr. Hauggaard was here to launch a new range of fragrances, skin and hair care products.

He said the parent company acquired the 15 per cent stake from its joint venture partner, Rollscon, dealing in trade finance and commodity exports.

Oriflame International has recently acquired the manufacturing facility of the Noida-based Silver Oaks Laboratory at a cost of Rs. 36 crores.

The plant is equipped with state-of-the-art technology to manufacture high quality skin care products in line with Oriflame International standards.

Mr. Inderjit Sial, Chairman, Oriflame India, said Oriflame International was now having two companies, one for marketing and another for manufacturing. Silver Oaks has a capacity to produce 35 million units.

Oriflame India has also forayed into sachets for the natural selection shampoos in order to help their distributors cater to a larger market.

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Section  : Business
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