MADARA Cosmetics announces the establishment of a subsidiaryInside information, 2024-12-05 16:11 CET --
AS MADARA Cosmetics establishes a subsidiary Brand Lab Cosmetics SIA, holding 100% of the shares of the newly established company. The company was created to test and implement various innovative product concepts based in e-commerce environment, thus being able to react even faster to industry trends.
Brand Lab Cosmetics SIA will have a share capital of EUR 200 000 and the necessary documents for its establishment have been filed with the Register of Enterprises.
The board of the newly established company will be composed of Uldis Iltners, a member of the board of MADARA Cosmetics, and Linda Preinberga, who will also be the CEO of Brand Lab Cosmetics SIA.
Gunta Šulte, CEO of MADARA Cosmetics, comments: "With the help of Brand Lab we will be able fast track, learn, and pivot different innovative and niche concepts, which will give additional dynamics to the development of new products at group level, especially niche product concepts in large export markets."
Management Board of AS “MADARA Cosmetics”
The shares of AS Madara Cosmetics are admitted to trading on Nasdaq Baltic First North Market.
The Certified Adviser for AS Madara Cosmetics is ZAB Eversheds Sutherland Bitāns SIA.
AS MADARA Cosmetics was founded in 2006 and has become one of the leading cosmetics manufacturers in Northern Europe and a leader in Latvia. The company' s brand MÁDARA is a pioneer in the natural skincare and make-up segment in Latvia. Since November 2017, the company's shares have been listed on the Nasdaq Baltic alternative market First North. For more information, visit investors.madaracosmetics.com.
Contact information:
Address: 131 Zeltiņu Street, Mārupe district, Mārupe, LV 2167, Latvia
Contact person: Gunta Šulte, member of the Management Board
E-mail: ir@madaracosmetics.com
Phone: +371 67 470 243
Certified adviser:
ZAB Eversheds Sutherland Bitāns SIA
Contact person: Justīne Ignatavičute
E-mail: justine.ignatavicute@eversheds-sutherland.lv
Phone: +371 28 665 066
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