Overviews and Oriflame
All,
Please find the “Overview" of Oriflame here.
We are contemplating the roll-out of a wider set of new names for you. The idea is to have an overview on - say 100 names in total, which would then allow us to add deeper research more flexibly on each of these names as and when appropriate. To make this feasible, we are thinking of starting with a 1-Day effort on a bigger range of names and subsequently dig more deeply into those that look interesting.
We have been experimenting with such a 1-Day format on Oriflame, which you will find under a separate heading “Overview" below our coverage on the website. Please let us know your thoughts on this format - if you like it, find it useless or have ideas for us.
Thank you!
Initial thoughts on Oriflame
In the high 50s, bonds are reflecting a list of troubles, ranging from falling Member numbers and extraordinary expenses to cost inflation and of course geopolitical turmoil. After the take-private by its founding family in 2019, Oriflame was undergoing a product review and operational restructuring and brand repositioning when the Ukrainian war cast a long shadow over its Russian operations. While management emphasise the autonomous nature of its Russian business, the 2016 inaugurated Moscow plant accounts for a larger share of its global supply than purely Russian revenue would suggest. The parallels to Frigoglass are inevitable, but should not be taken too far.
Wolfgang
E: wfelix@sarria.co.uk
T: +44 203 744 7003
www.sarria.co.uk