Official claim put forward by authorities in Russian tax investigation Following several years of ongoing tax investigation in Russia, Oriflame today received an official claim from the authorities amounting to €21m including penalty fees. The claim contradicts opinions of local and international experts as well as local and international legislation and praxis. The claim relates to royalty payments (including related VAT) while all other areas of investigation have been dropped. Oriflame remains confident in its practice within this area, with royalty levels at or below industry praxis, and the company has today initiated a litigation process to contest the claim as it contradicts local and international legislation. The cash out effect from the claim is estimated to amount to approximately €11m to be paid in the third quarter 2014 prior to the litigation. The amount will be reversed following successful litigation process as per practice in Russia. In accordance with local and international opinions supporting Oriflame’s position, no profit and loss impact is currently foreseen. Oriflame Wellness products no longer affected by recent sanctions The Russian government has amended the list of banned products under the previously imposed sanctions against import of food products from certain countries. Biological active supplements, vitamins and protein concentrates have now been excluded from the list which implies that Oriflame Wellness products are allowed to be imported to Russia. This means that Oriflame expects the total business impact from the sanctions to be limited. For additional information, please contact: Gabriel Bennet, CFO +41 798 263 713 Johanna Palm, Director Investor Relations +46 765 422 672 Founded in 1967, Oriflame is a beauty company selling direct in more than 60 countries. Its wide portfolio of Swedish, nature-inspired, innovative beauty products is marketed through approximately 3 million independent Oriflame Consultants, generating annual sales of around €1.5 billion. Respect for people and nature underlies Oriflame’s operating principles and is reflected in its social and environmental policies. Oriflame supports numerous charities worldwide and is a Co-founder of the World Childhood Foundation. Oriflame is a Luxembourg company group with corporate offices in Luxembourg and Switzerland. Oriflame Cosmetics is listed on the Nasdaq OMX Nordic Exchange.
Russian tax claim received and Wellness products no longer
Top 10 Most Recent News Articles
Layne's Chicken Fingers Expands with Brownsville Opening
Fried Delights Rise in Brownsville Never thought I'd see the day when chicken fingers felt like the main character in an epic expansion saga, but here we are. Ricki Oberoi, a veteran in the fast-food game, is pushing onward with Layne's Chicken Fingers in Brownsville, Texas. I tell you, some folks are as keen on expanding their palates as they are their portfolios....
Continue Reading
AppLovin Legal Woes: A Deep Dive into Investor Claims
AppLovin Faces Legal Heat and Market Scrutiny Bitter truth has a way of crashing like a wave, and AppLovin (NASDAQ: APP) is feeling the brunt of it. Now knee-deep in a securities class action, the firm’s been accused of selling fairy tales about its AI capabilities, leaving investors clutching at substantial losses. If you’ve been banking on their promises between...
Continue Reading
Innovent's Seven Drugs Leap onto 2026 Reimbursement Chart
A Bold Move in Biopharmaceuticals Innovent Biologics just pulled a rabbit out of their hat. Seven of their cutting-edge meds made it onto China's National Reimbursement Drug List for 2026. This isn't just a spreadsheet entry—it's a lifeline thrown to patients across the oncology, metabolic, and autoimmune landscapes, as well as a financial booster for Innovent (HKEX:...
Continue Reading
HONGQI's EHS4 Launch in Europe: Bridging East and West
Revving Up a New Chapter: HONGQI in Venice There's a new player in the European automotive scene, and it's rolling in with more style than a Venetian gondola. HONGQI, a name that's been turning gears in China since '58, is packing its suitcases full of Eastern elegance and landing straight in Venice with the all-electric EHS4. On November 16, the brand is set to unveil...
Continue Reading
Greenberg Traurig's Brad Kaufman: A Mentor of Resolute Impact
A Milestone for Mentorship at Greenberg Traurig In the often cutthroat jungle of law, finding someone who actually gives a damn about you is as rare as finding a unicorn. Yet, there it is—Brad Kaufman, at the helm of Greenberg Traurig's professional development, proving that mentorship can be more than just a checkbox on a quarterly review. Award for Exceptional...
Continue Reading
YSTUDIO's Pens: A Nod to the Power of Writing
Slow Down, Write On: A New Era for Stationery In a world where sentiments zip around with a swipe, here we find YSTUDIO tapping into something analog and profound. Their latest offerings—a 'Brand Day Gift Box' and the 'Inner Universe' pen series—are more than just high-end stationery. They’re an invitation to reconnect with the written word, a gesture to slow our...
Continue Reading
EFICYENT Ventures to Connect at Singapore FinTech Fest
Why the Singapore FinTech Festival Matters The world's hardly a stranger to hype, but the Singapore FinTech Festival carries some real weight. From November 18 to 20, 2026, this gig isn't just industry chatter—it's a high-stakes convergence of policymakers, financial institutions, fintech innovators like EFICYENT, and the money folk looking to mold the future of...
Continue Reading
Novo's CagriSema Trial Shows Promising Obesity Results
Novo's Latest Weight Loss Gamble Well, look what we have here. Novo Nordisk is shaking up the obesity treatment scene with some bold numbers from their REDEFINE 9 trial. The investigational CagriSema combo of amylin analog and GLP-1 receptor agonist has churned out an eyeball-popping near 21% weight loss. For context, we're staring down the barrel of numbers far meatier...
Continue Reading
HiTHIUM Joins Cambridge to Boost Global Energy Storage
HiTHIUM and Cambridge's New Energy Venture There's a big splash coming out of Xiamen, folks. HiTHIUM, a heavyweight in the energy storage sector, has decided to team up with the University of Cambridge. They inked a deal aiming to bridge the academic ivory tower with industrial grit, focusing on long-duration energy storage. It was all sealed during the Global Energy...
Continue Reading
Beko Pushes for Policy Synergy Amidst Carbon Shakeup
When big names like Beko step up on the global stage, you pay attention. During the COP31 panels in Antalya, Türkiye, the company's brass made one thing clear: we need harmony in how climate, trade, and finance policies come together. The stakes? The very strength of industrial competitiveness as new carbon rules turn the heat up on manufacturing practices. The Call for...
Continue ReadingTop 5 Most Recently Viewed Articles
BioXcel Therapeutics Secures Grant for BXCL501 Study in Stress Relief
Exciting Development in Mental Health Treatment In a groundbreaking collaboration, BioXcel Therapeutics, Inc. (NASDAQ: BTAI) has joined forces with the University of North Carolina at Chapel Hill (UNC) thanks to a substantial grant from the U.S. Department of Defense. This grant aims to explore the effectiveness and safety of BXCL501, a novel treatment for acute stress...
Continue Reading
Eastern Michigan University Alumni Lead Research on Urban Wildlife
Alumni Champions of Environmental Research In a remarkable tale of collaboration fueled by a shared passion for wildlife research, Eastern Michigan University alumni Dorothy Zahor and Kenneth Glynn came together to explore environmental issues through the lens of urban wildlife. Their dedication to the study of American robins has revealed fascinating insights into how...
Continue Reading
Verkada Appoints Micah Deriso to Strengthen Global Channel
Verkada Strengthens Global Channel Operations Verkada, known for its innovative cloud-based physical security solutions, recently announced a strategic enhancement in its global channel operations with the appointment of Micah Deriso as Head of Global Channel. This strategic move aims to bolster Verkada's global partnerships and streamline its channel strategy. Meet Micah...
Continue Reading
Investigation Launched into Citi Trends, Inc. by Purcell & Lefkowitz
Purcell & Lefkowitz LLP Investigates Citi Trends, Inc. Recently, Purcell & Lefkowitz LLP announced an investigation concerning Citi Trends, Inc. (NASDAQ: CTRN). This inquiry arises from concerns regarding the fiduciary duties of the directors amidst ongoing corporate actions. The aim is to determine if there have been any breaches that may affect shareholders....
Continue Reading
Prairie Operating Co. Advances with Shelduck South Pad Success
Prairie Operating Co. Announces Successful Shelduck South Pad Completion Prairie Operating Co. (Nasdaq: PROP) has recently achieved a remarkable milestone with the timely completion of its Shelduck South pad in the DJ Basin. This accomplishment marks the successful culmination of the first phase of its development program for 2025, aiming for all production to be fully...
Continue Reading