Successful Case

1
Successful Case

• Partner GREECE
• Business KORRES

2
KORRES STORY

• the oldest Homeopathic pharmacy in Greece
• 1996_start up of the company
• herbal products
• mild approach, in line with homeopathy

3
KORRES VALUES

• Naturally derived, top quality active
  ingredients
• Clinically tested effectiveness with no
  inflated promises
• Aesthetically pleasing
• Reasonably priced to enable every-day use

4
BUSINESS UNITS PARTNERSHIPS

• 1. Natural products
• production plant based in Athens
• strict quality control according to the most
  demanding industry standards
• RD and product formulation according to the
  companys commitment to avoid harsh chemicals and
  to use instead well documented and top quality
  natural active ingredients in significant
  percentages
• end products clinically tested for their safety
  and effectiveness
• Cooperation with the University of Athens,
  Faculty of Pharmacy, Department of Pharmacognosy
  in programs of Industrial Research concerning the
  herbs of the Greek flora
• Cooperation with the Chios Mastiha Growers
  Association for the development of products with
  Mastiha
• 2. Homeopathic remedies
• the roots of the company
• specialised production unit, in Ancient
  Epidavros in Argolida
• the only homeopathic laboratory in Greece,
  officially licensed by the National Organisation
  for Medicines

5
KORRES INTERNATIONAL EXPANSION MILESTONES

• 1999 LAFCO distributor USA. Listed Korres brand
  in selective Points of Sales in USA market
• 2000 HARVEY NICHOLS UK listed Korres brand in
  newly developed Beyond Beauty section
• 2001 Korres participated in COSMOPROF Trade Show
  in Bologna, Italy, resulting to distribution
  agreements with partners in Europe and Asia
• 2003 Korres established first subsidiary, Korres
  Ltd UK First Korres stand alone store in
  London Chelsea
• 2004 Korres established second subsidiary, Korres
  USA
• 2 new Korres stand alone stores in Barcelona

6
OUR PRESENCE IN GREECE AND WORLDWIDE

• Greece 5500 Pharmacies
• Worldwide UK, USA, Germany, Spain, Austria,
  France, Italy, Netherlands, Cyprus, Singapore,
  Hong Kong, Malaysia, Philippines, Kuwait, Dubai,
  Australia, Belgium, Korea
• UK Korres first stand-alone Store, Harvey
  Nichols, Liberty, Selfridges, John Lewis
  Partnership, Jenners Edinburgh, Bentalls,
  selected Boots stores, Therapy for Men,
  www.miskis.com
• USA Henri Bendels NY, Fred Segal, 80 Sephora
  stores
• Germany Ludwig Beck, Apropos, Alsterhaus, KDW
• Spain Korres 2 stand-alone Stores, Barcelona
• Netherlands De Bijenkorf,
• Cyprus selected Pharmacies beauty stores
• Austria Nana De Bary
• France Le Bon Marché, Sephora, La Samaritaine,
  Galeries Lafayette Printemps
• Italy Sephora, Laguna, Boidi, Carmen, COIN
  pilot
• Singapore Tangs Beauty Hall, OG Peoples Park,
  Metro Paragon, NC Essentials, For You Cosmetics,
  SaSa
• Hong Kong Joyce Beauty
• Malaysia Parkson Grand
• Philippines Rustans
• Kuwait Villa Moda
• Dubai Villa Moda

7
THREAT AND OPPORTUNITIES IN INTERNATION
DEVELOPMENT

• THREATS
• Fierce competition from other global brands
• Korres distribution in pharmacies different from
  international distribution structure
• Due to international market size, high resources
  needed to establish the brand
• OPPORTUNITIES
• Korres brand well accepted in international trade
• Natural cosmetics concept growing in developed
  markets

8
SALES IN EUROS1996-2005