Latvian cosmetic company, Dzintars, plans to open more shops abroad via the franchise system. Recently Dzintars 13th franchise shop in Russia was opened in Izhevsk. There are 49 Dzintars shops in Latvia, 13 in Russia, 2 in Estonia, 1 in Georgia and 1 in Ukraine. The company is reported to have turned over LVL 5.3 million in 2010 which was 19.1% more than the previous year, and for 2011 currently the turnover has increased by 14% compared to 2010.
Last year Dzintars were reported to be in discussions with a US retail chain who were interested in the company’s eco-cosmetic products. They presently produce more than 750 different perfumes, cosmetics, skin, hair and facial care products and other bio-cosmetic products. Dzintars products are exported to 21 countries, mostly in the Baltics, but also the Commonwealth of Independent States, Germany, Sweden, Italy, Austria, Bulgaria and Israel. As internationally customers are already familiar with their products and their turnover moves from strength to strength, now would be a favourable moment for Dzintars shops to go global.
