1

2005

Successful CasePartner: GREECE

Business: KORRES

2

2005

KORRES STORY

• the oldest Homeopathic pharmacy in Greece

• 1996_start up of the company

• herbal products

• mild approach, in line with homeopathy

3

2005

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

2005

BUSINESS UNITS & PARTNERSHIPS

1. Natural products• production plant based in Athens• strict quality control according to the most demanding industry

standards • R&D and product formulation according to the company’s

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

2005

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

2005

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 Bendel’s 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 Tang’s Beauty Hall, OG People’s Park, Metro Paragon, NC Essentials, For You Cosmetics, SaSa• Hong Kong Joyce Beauty • Malaysia Parkson Grand• Philippines Rustan’s• Kuwait Villa Moda• Dubai Villa Moda

7

2005

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

2005

SALES IN EUROS1996-2005