ALAPIS Α.Β.Ε.Ε.
Announcement.
ALAPIS S.A. announces that on October 23, 2009, Gerolymatos Cosmetics S.A., a wholly owned subsidiary of ALAPIS SA, concluded a joint venture agreement with Shiseido International Europe SA, a wholly owned subsidiary of Shiseido Co. Ltd. The agreement calls for the establishment of a joint venture, Shiseido Hellas S.A., between the two parts aiming to strengthen the sales of Shiseido Cosmetics in the Greek market. Shiseido Hellas S.A. is expected to start operations in January 2010.
This important development in the Greek Selective Cosmetics market comes immediately after the establishment of Gerolymatos Cosmetics S.A. as an independent company within the ALAPIS GROUP. The establishment of Gerolymatos Cosmetics S.A. will continue the successful history of its predecessor, the cosmetics division of PNG Gerolymatos which is distributing and marketing brands like LA PRAIRIE, KANEBO, and the full portfolio of the fine fragrances of PROCTER and GAMBLE, and is up to date a leading player in the Greek Selective Cosmetics' market. PNG Gerolymatos Cosmetics Division has more than doubled its sales within the last five years, having consistently outperformed the market growth rates and risen to the second rank in the market.
The new venture will reinforce the clout of Gerolymatos Cosmetics S.A. within the Selective Cosmetic market growing its market share. It will boost its presence in the skincare market, where Gerolymatos Cosmetics operates through a sales force of more than 250 dedicated beauty advisors. Finally, through this JV, Gerolymatos Cosmetics with the partnership of Shiseido International Europe will market the global brand "SHISEIDO", on top of its already impressive portfolio of marketed brands.
SHISEIDO is a very well known brand in the Greek market. It belongs to Shiseido Co. Ltd, one of the leading cosmetics companies in the world, with an annual turnover of more than 7 billion U.S. $*. Its portfolio includes leading products of exceptional quality within Cosmetics, Fragrance and Professional categories. Their quality is best complemented by the service provided by experienced Beauty Consultants, and the expertise of Gerolymatos Cosmetics in that field will help create a winning recipe. (* as of March 31, 2009)
This important development in the Greek Selective Cosmetics market comes immediately after the establishment of Gerolymatos Cosmetics S.A. as an independent company within the ALAPIS GROUP. The establishment of Gerolymatos Cosmetics S.A. will continue the successful history of its predecessor, the cosmetics division of PNG Gerolymatos which is distributing and marketing brands like LA PRAIRIE, KANEBO, and the full portfolio of the fine fragrances of PROCTER and GAMBLE, and is up to date a leading player in the Greek Selective Cosmetics' market. PNG Gerolymatos Cosmetics Division has more than doubled its sales within the last five years, having consistently outperformed the market growth rates and risen to the second rank in the market.
The new venture will reinforce the clout of Gerolymatos Cosmetics S.A. within the Selective Cosmetic market growing its market share. It will boost its presence in the skincare market, where Gerolymatos Cosmetics operates through a sales force of more than 250 dedicated beauty advisors. Finally, through this JV, Gerolymatos Cosmetics with the partnership of Shiseido International Europe will market the global brand "SHISEIDO", on top of its already impressive portfolio of marketed brands.
SHISEIDO is a very well known brand in the Greek market. It belongs to Shiseido Co. Ltd, one of the leading cosmetics companies in the world, with an annual turnover of more than 7 billion U.S. $*. Its portfolio includes leading products of exceptional quality within Cosmetics, Fragrance and Professional categories. Their quality is best complemented by the service provided by experienced Beauty Consultants, and the expertise of Gerolymatos Cosmetics in that field will help create a winning recipe. (* as of March 31, 2009)