Oriflame Appoints Robert Bensoussan as Chairman

Following the agreement of its comprehensive recapitalisation transaction (the “Recapitalisation Transaction”), which reduces debt by approximately €550m, extends the group’s revolving credit facility and provides a capital injection of €50m from the shareholders and a consortium of existing investors, Oriflame is pleased to announce the appointment of Robert Bensoussan as Chairman of Oriflame Holding limited and Oriflame Investment Holding PLC, with his appointment to become effective from the date of completion of the Recapitalisation Transaction, targeted for later this year.

Robert Bensoussan has significant experience scaling and reshaping premium consumer brands, most notably as CEO of Jimmy Choo, where he led a rapid international expansion, and as Chairman of Feelunique.com, through to its sale to Sephora. He also served on several boards, of both public and private companies, across his career, such as Interparfums (Nasdaq: IPAR) and Lululemon (Nasdaq: LULU). His extensive track record and expertise will be extremely valuable to the long-term success of the business.

Alexander af Jochnick will remain a board member and will continue to play an important role in the future of the business. Alexander af Jochnick said:

“I am delighted to welcome Robert as Chairman at this pivotal moment for Oriflame. Having secured the terms of the recapitalisation of the company, we are focused on delivering the operational transformation and continuing to serve our Beauty Entrepreneur community worldwide. The af Jochnick family remains fully committed to Oriflame and I look forward to working with Robert and the Oriflame board as we guide the company through this next chapter.”

Robert Bensoussan shared:

“It is a privilege to join Oriflame at a time when the foundations for a sustainable future are being reset. The new investment from the af Jochnick family and long-term investors materially strengthens the company and provides a runway for growth, enabling us to invest in product innovation and Oriflame’s Beauty Entrepreneur community, who make the business’ social selling model so successful.

He continued:

“I look forward to collaborating with Anna Malmhake and the management team as we navigate Oriflame’s return to consistent growth while building on this company’s legacy of inspiring, empowering and supporting entrepreneurial people all over the world.”

Anna Malmhake, CEO of Oriflame, stated:

“Today marks the beginning of a new chapter in Oriflame’s story. Our recapitalisation, backed by the af Jochnick family and long-term European investors, gives us a stable platform and a de-levered balance sheet, so we can focus on our transformation plan. I’m excited to partner with Robert to continue our legacy of innovation and help our Beauty Entrepreneur community thrive. I am confident that, with Robert and the Board, we can turn this momentum into consistent, sustainable growth.”

SOURCE:Oriflame

About Oriflame

As a globally renowned beauty and wellbeing company, Oriflame has empowered individuals since 1967 through its diverse portfolio of high-quality, innovative, and sustainable beauty and wellbeing products. It operates in over 60 markets.

Committed to ethical business practices and environmental sustainability, Oriflame takes pride in its Swedish heritage and people-centric approach. It operates through a modern social selling model, enabling over 3 million Beauty Entrepreneurs and members worldwide to become beauty industry insiders through a ‘Plug and Play’ micro-entrepreneurship model.

Oriflame’s product range spans skincare, cosmetics, fragrances, personal care, and nutritional supplements, all crafted with care to promote holistic wellbeing. Guided by the values of Togetherness, Spirit, and Passion, Oriflame continues to make a positive impact on communities worldwide and has been named a European Climate Leader by the Financial Times and Statista for the past five years.

For more information, visit www.oriflame.com.