Oriflame continues to reap rewards from lucrative Sri Lankan market

By Louise Prance

- Last updated on GMT

Related tags: Skin care range, Sri lanka

Swedish direct sales cosmetics company, Oriflame, has continued
with plans to make its mark on the Sri Lankan beauty market with
the recent launch of a new cosmetics range aimed at the booming
anti-ageing market.

The company has announced the 'Skindividual' skin care range will be launched globally in Sri Lanka in February 2007 and will be aimed at women that are reaching the age of 25-30, a time of their life when they begin to contemplate anti-ageing prevention.

According to market analysts, Euromonitor Interntational, The Sri Lankan cosmetics market has experienced a 33 per cent growth increase between 1997 and 2005, rising from a total value of $94.5mn to $127.4 mn. It is expected to grow by a further 24 per cent by 2010, reaching $152 mn.

Fredrik Widell, Managing Director of Oriflame Sri Lanka, told CosmeticsDesign "We are continuing to develop our nine year presence in the Sri Lankan market due to our continued stable operation in this market despite its current challenging political circumstances"

"Therefore our aim is to continue with the high growth and high market penetration we have experienced in the past three years,"​ he continued.

Its launch is said to tie in with the company's 40th year in the cosmetics market an event which will be marked with the launch of the new skin care range, up coming offers and new products and events for every month in Sri Lanka in 2007.

However, the new range is not only targeting the anti-ageing market, held up by the lucrative baby boom generation, it is also tapping into the recent upsurge in demand for products containing fruit extracts, with the main ingredient for the range being Lingonberry. This ingredient is said to contain powerful antioxidant properties that rival any other similar ingredient on the market.

The range consists of a day cream, night cream, eye serum, and day fluid with the company claiming that the products help combat wrinkles by 85 per cent and increases the skin's suppleness by 91 per cent.

The company used its Global Technical Center based in Ireland to develop the ingredient through the newly created Dermo-Adapt technology that was used in conjunction with state-of-the-art technological advances to create the product.

The company, who has over 2 million sales agents around the globe, has stated that the product fights the signs of ageing by acting on free radicals and working on areas of skin that need help in preserving youth.

The skin care range has been previously launched in CIS & Baltics, Central Europe & Mediterranean, Western Europe, Latin America and now Asia.

Related topics: Market Trends, Colour Cosmetics, Skin Care

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