STOCKHOLM, March 24 (Reuters) - Cosmetics firm Oriflame could enter two major new markets - the United States and Brazil - within a few years, its chief executive officer said.
Magnus Brannstrom said that in the long term, Asian countries were likely to account for a major share of Oriflame’s sales, with China or India probably becoming its largest single market. Its largest market today is Russia.
But if market conditions continue to stabilise, Oriflame will also look at entering the United States and Brazil.
“That could go pretty fast,” Brannstrom told Reuters in an interview, adding it could happen in a few years.
Brannstrom said the United States and Brazil were highly interesting markets, but also resource-intensive.
“They are huge direct selling markets with a very high degree of innovation and with many new companies in the U.S.,” he said, adding Oriflame would continue to grow primarily organically. (Reporting by Helena Soderpalm, editing by Mia Shanley)