PRESS RELEASE
SARANTIS Group signed an agreement with the local distributor EVYAP in Turkey, according to which EVYAP will distribute Sarantis’ products for a 5-year period, commencing on September 24th 2007. The agreement is in line with the Group’s new business model of penetrating the market of Turkey and in the context of the revised business penetration model for the newly established markets of Russia, Turkey and Ukraine, as well as the Group’s commitment.
It is mentioned that in Turkey, Sarantis Group is distributing “own portfolio” mass-market fragrances and cosmetics as well as suncare products such as C-THRU, BU, STR8 and CARROTEN.
The above agreement with EVYAP is expected to benefit the Group by maximizing efficiency in distribution, increasing market shares, and improving profitability. The agreement is also expected to eliminate the inefficiencies of the model used so far, which was based on high fixed operating expenses and lacking mass market penetration. At the same time, through the nationwide distribution of EVYAP, the Group ensures a high return on advertising and promotion expenses.
EVYAP is one of leading local distributors in Turkey with 80 years of successful operations in a nation wide scale. Specifically, EVYAP maintains a distribution network (warehouses, distribution and order-taking) across the country, employees 300 sales people and possesses a clientele of more than 100,000 customers.
Furthermore, it is reminded that the Group has already signed on May 11th 2007 an agreement with the local distributor CONRIL in Ukraine, according to which CONRIL will distribute Sarantis’ products for a 3-year period.
Additionally, it is worth mentioning that the Group has already initiated a cost cutting program in the same countries (Turkey, Russia and Ukraine) realizing a large part of the fixed costs and compensations during the 1st semester of 2007. The management of the Group is committed to complete the cost cutting program by the end of the third quarter of 2007.
For further assistance, please, do not hesitate to contact the Group’s Investor Relation Department (+30 210 61 73 065, Ms. Eleni Pappa).
Contact
SARANTIS Group
26, Amaroussiou - Halandriou Street
151 25 Maroussi, Athens, Greece
Tel: +30 210 6173000
Fax: +30 210 6197081
e-mail: group-info@sarantisgroup.com
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