ECONOMY

Korres penetrates Singapore

Athens-listed Korres Natural Products is about to open its first store in Singapore next month, adding the Asian nation to a list of over 30 countries it has penetrated. Just 13 years since its creation, Giorgos and Lena Korres’s natural cosmetics firm has more than 6,000 sales points across the world, staffed by about 250 employees. Its outlet in Singapore will be the 33rd stand-alone store. The company is aiming to take export sales and turnover from abroad to over 50 percent of total group sales, as it continues to expand its domestic network. The company that started from a local drugstore in Pangrati, central Athens, has now expanded to the American, Chinese, Japanese, Scandinavian and other markets, operating completely along the lines of a multinational. Recently, it also agreed cooperation with Delta Air Lines for the exclusive supply of Korres products to the carrier’s 170 million passengers per year.