ZINZINO AB (PUBL): Zinzino announces Serbia as next step in its global expansion

Zinzino is pleased to announce that it will launch its operations in Serbia on June 11, 2024. The Balkan region and Southeastern Europe represent a strategic next step in the company's plan to expand its customer base in the international market. The launch will enable Zinzino's Independent Partners to continue building locally and growing globally.

Serbia's strategic location in Southeastern Europe makes it an important hub for banking, trade, and transportation in the region. The launch is expected to stimulate sales growth in Serbia as well as in the surrounding countries in the Balkan region through synergies within the distributor organization.

Market analysis shows that direct selling is popular among Serbian consumers and a natural way of selling for entrepreneurs seeking extra income. Digital commerce is growing rapidly, and more than two-thirds of the Serbian population use social media daily. Social selling combined with Zinzino's digital toolbox creates favorable conditions for their distributors to reach new customers in Serbia.

Well-executed adaptations to local market conditions have been of utmost importance to Zinzino. Based on previous experiences and insights from several establishment processes over recent years, this groundwork has proven crucial for sustainable success. In Serbia, the business has been adapted through the implementation of local payment solutions via a new, dynamic payment platform. Customer support and other market support will be handled through the headquarters in Gothenburg, combined with support from local consultants in Serbia.

Profitable growth has always been an important business strategy for Zinzino, which will now maintain its ambition to reach 1 million customers by 2025 and 20 million by 2035. With the launch in Serbia, Zinzino is active in more than 100 markets while continuing to focus on further global expansion.

“This is a perfect time for Zinzino to enter a dynamic and expanding market that serves as the gateway to the Balkans,” says Dag Bergheim Pettersen, CEO of Zinzino. “Zinzino's robust and long-term business model with a sustainable, customer-centered approach will be a springboard to success for our Serbian Partners in a country strategically located between Central and Southeastern Europe.”

For more information:
Dag Bergheim Pettersen CEO Zinzino +47 (0) 932 25 700, zinzino.com
Fredrik Nielsen CFO Zinzino +46 707 900 174, fredrik.nielsen@zinzino.com

Pictures for publication free of charge:
marketing@zinzino.com

Certified Adviser: Carnegie Investment Bank AB (publ)