Last week a change of owners and board members took place in the company Stenders, one of the most popular cosmetic companies in Latvia. Stenders was founded in 200, the company initially engaged in the production of cosmetic products, bath balls, soaps, etc. The turnover of the company in the fiscal year from April 1, 2015 to March 31, 2016 amounted to 8.028 million euros, but its losses – 633 thousand euros.
The new owner of the company is now CICC Ehealthcare Investment Fund, registered in the Cayman Islands. All the former owners of the company are exempted from their positions. New members of the board are Chinese citizens – Xia Wu, who became chairman of the board, Gang Yang and Yang Zhao.
As the former board member explained, the deal was aimed at making a leap in development, as well as for entering the global market because it was impossible to do that on your own.
