Korres Ends Licensing to Focus on U.S. Business

Posted on July 10, 2013 @ 09:26 am

Korres Natural Products had licensed its North American business to Johnson & Johnson Consumer Cos., Inc. almost four years ago - but the deal will end on December 28, 2013.

During recent interviews, George Korres co-founder, said he will be moving to New York, to personally oversee the growth of the business in America.

The brand's U.S. sales represent the company's second highest, after Greece - but Korres expects sales in the U.S. to eventually be equal to sales in Greece.

Greece represents 60% of Korres' worldwide business, and its sales volume in Greece is valued at 30 million Euros. Market sources estimate that the Korres business in the U.S. had approached $10 million in 2010.

The company will continue to focus distribution on Sephora and HSN. Korres also intends to explore e-commerce, and plans to open two freestanding stores. The company previously had stores in Soho and Brooklyn, but they closed.