Following its acquisition of Laboratoires SVR a few months ago, French medi-cosmetic company Laboratoires Filorga is continuing its global expansion with the establishment of a Spanish subsidiary. The new subsidiary will begin the commercialisation of the two brands in Spain from 1 September.
“Spain is a strategic market for dermo-cosmetic brands wanting to have a relevant presence in the sector,” said Didier Tabary, President of Filorga and SVR. “Filorga will invest 20% of its turnover in R&D and this will be the key to continue with its 30% annual increase of the last six years. 2013 turnover was €33m and €45m is expected for 2014.”
Spain currently ranks third among Filorga’s 5,500 points of sale around the world, after France and Russia, said Andrea Soto, Filorga and SRV Country Manager for Spain, before adding: “Filorga currently has a presence in 50 countries worldwide. In 2014 we plan to enter new markets in Canada, the US and Latin America as well as opening subsidiaries in Tunisia, Morocco, Italy, Portugal and Spain.”
Lola Gavarrón, Madrid