Oriflame

Overview

Oriflame was founded in Stockholm, Sweden in 1967 by brothers Jonas and Robert af Jochnick together with Bengt Hellsten, initially selling skincare, lipstick and mascara made with Swedish plant extracts. The company expanded internationally starting in 1972 and in 1982 became the first foreign company to list on the London Stock Exchange since the Second World War; it later traded on Nasdaq Stockholm until it was taken private in 2019 in a roughly SEK 13 billion buyout led by the founding af Jochnick family (via Walnut Bidco Plc), with shares delisted on 17 July 2019. Today Oriflame operates as a direct-selling (multi-level marketing) business, distributing beauty, skincare, colour cosmetics, fragrance, personal-care and wellness products through independent Brand Partners rather than retail stores. Partners earn through personal sales and by building and earning from downline sales teams under the company's unilevel-style "Success Plan." The company's corporate holding structure is now based in Schaffhausen, Switzerland, while it retains a large support and R&D operation, including a Skin Research Institute, in Stockholm, Sweden. Oriflame states it operates in more than 60 markets across Europe, Asia, Latin America and Africa.