Papoutsanis ABEE on Monday announced the set-up of a subsidiary company in Poland in partnership with Betasoap Sp. z o.o.
The new company, named Papoutsanis Sp. z o.o., will distribute the Greek soap company’s products in the Polish market with priority to be given to brand name cosmetic products for hair and body (Olivia). The Polish market is one the largest in Europe with an estimated value of 1.5 billion euros, with annual growth rate of around 5-7 pct.
The strategic partnership deal with Betasoap will also focus on entering the cosmetics markets of Russia and the Russian Federation.