BaltCap invests €1.5m in Stenders

The capital injection will be used by Stenders to enter new markets and expand its product range.

BaltCap stated it can see potential for rapid growth of Stenders' franchise in Asia and the Commonwealth of Independent States.

Alongside BaltCap's investment, the company has secured financing from private investors and the European Union structural funds, which are administered by the Latvian Guarantee Agency.

Company
Founded in 2001, Stenders is headquartered in Riga with 225 franchises across 23 countries, including Estonia, Sweden, Finland, Germany, Russia, Armenia, Slovenia, Poland, Japan and China. The company has approximately 60 professional franchise partners.

Stenders produces a range of body care, skin care, hair care and bath and shower cosmetics, including hand cream, shower gel and handcrafted soaps, the latter of which was Stenders' initial sole product when it was established. The company has a product base of 320, themed around "northern nature".

Stenders generated turnover of LVL 4.55m (€6.47m) in 2012, as well as profits of LVL 205,210 (€292,000). Revenues from the company's Chinese and Russian markets make up more than half of Stenders' annual turnover.

People
Jānis Bērziņš is the CEO and co-founder of Stenders alongside co-founder Zane Dreimane. Astra Neimane is an investment director at BaltCap.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• CEE
• Consumer
• Expansion
• Latvia
• Baltcap Management Ltd