Viorica is a perfume and cosmetics factory (later renamed Viorica-Cosmetic) and was built in the late 1980s, designed after a factory of the famous French brand Christian Dior.
In 1993, the company was denied privatization for vouchers, but its decaying economic performance forced the authorities to reorganize it in a joined-stock company in early 1996. The government kept the control (96%) and the remaining shares were donated to employees.
A privatization plan designed in 1998 especially for Viorica-Cosmetic never went through and in 2007 it was dumped. The government yet was firm to get rid of its shares and in June 2012 it sold the entire 95.85% stake via the Moldovan Stock Exchange. The buyer was the DAAC Hermes group, which paid 51.04 million lei to take control of Viorica-Cosmetic.
Figures from the year 2020 show that the perfume and cosmetics factory has an equity capital of 77.3 million lei, and the main shareholders are DAAC Hermes Grup SA (24.5%) and Pielart SA (68.23%). Both companies are part of the DAAC Hermes group, controlled by businessman Vasili Chirtoca and his family.
According to financial records, Viorica-Cosmetic has reported losses over the past few years. In the first half of 2020, however, it posted profits and a significant increase in sales, due to the high demand for disinfectants as a result of the Covid-19 pandemic.
