Oriflame

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Oriflame Holding AG
Aktiengesellschaft
Traded asNasdaq StockholmORI
IndustryConsumer goods, multi-level marketing
Founded1967
Founders
Headquarters,
Key people
Magnus Brännström (CEO)
Alexander af Jochnick (Chairman)
Products
Websitewww.oriflame.com

Oriflame Holding AG is a Swedish multi-level marketing company[1][2] founded in 1967 by brothers Jonas and Robert af Jochnick. The company sells personal care, lip balms [3], accessories and dietary supplements.

According to Oriflame, the company sells in more than 60 countries through a sales force of approximately 3.6 million MLM distributors[citation needed] with sales of €1.36 billion in 2017.[4]

The brand was created as a reference to Oriflamme, a royal banner of medieval France.[5]

In 2017, Stella Ivy Cosmetic, which distributes Oriflame cosmetic products, was fined by the government of Vietnam for conducting MLM sales without approval. In addition, the Ministry of Industry and Trade’s Vietnam Competition Agency (VCA) noted that Oriflame did not carry out or improperly implemented its obligation of training sales staff for its MLM network, and there were no signed labor contracts between Stella and its sales staff.[2]

References[edit]

  1. ^ Joglekar, Yogini (August 5, 2011). "Beware of the multi-level marketing predators". Daily News and Analysis. Retrieved November 23, 2018.
  2. ^ a b "Multi-level Greenlife, Oriflame, and Unicity fined for a billion dong". Vietnam Investment Review. August 27, 2018. Retrieved November 23, 2018.
  3. ^ "Comparativa: bálsamos labiales". The Moisturizer. 3 November 2018. Retrieved 21 November 2018.
  4. ^ "Oriflame Holdings".
  5. ^ Bhujabal, Bijay (2002). The Mega Business Quiz Book. Vision Books. p. 66.

External links[edit]

Media related to Oriflame at Wikimedia Commons