Swedish direct selling cosmetics company Oriflame International has bought out its Indian partner, thereby converting Oriflame India into a wholly owned subsidiary. Earlier, 15 per cent equity in Oriflame India was held by Rollscon, an export house.
As part of its expansion plans, the cosmetics multinational has also acquired a manufacturing facility in the country, its second worldwide. The acquisition, at Rs 36 crore, is part of Oriflame International