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's activity report 2022

The main activity of OÜ TKM Beauty Estonia is the retail sale of cosmetics and toiletries.

OÜ TKM Beauty Estonia is part of the Tallinn Department Store Group AS. The share capital of OÜ TKM Beauty Estonia is 2,556 euros.

The aim of OÜ TKM Beauty Estonia is to operate I.L.U. retail stores in the Estonian market since 2009. In 2022, the company operated in the market with 5 stores in shopping centers and 1 online store.

Significant events in the fiscal year 2022. The main keywords for 2022 were the development of a new I.L.U. concept and the renovation of the Pärnu center and Rocca al

Mare stores. The renovated store interior significantly increased the range of perfumes and skincare brands, and the range of food supplements and beauty accessories was also expanded. In line with the strategy, the mood of the stores was made more youthful, bolder and playful, while still maintaining a premium quality image. The renovated stores also have the possibility of modern digital advertising solutions, the interior decoration uses display tables made of recycled materials, and the display of price information on paper carriers has been reduced.

The store lighting was replaced with economical LED lights, which brought considerable relief to the cost base in the light of rising energy prices. Along with the refreshed stores, the visual identity of I.L.U. was also renewed.

General development of the operating environment and impact on financial results

According to Statistics Estonia, Estonia's GDP at constant prices fell by 2.4% in the first 9 months of 2022. GDP increased by 13.9% at current prices, but the growth is mainly due to increased prices. Excluding price effects, both tax revenues and value added showed a decline. In the third quarter, the strongest positive contribution came from professional, scientific and technical activities, followed by construction and accommodation and catering that exceeded the pre-corona level.

Modest growth was also shown by manufacturing and transport, the most negative contribution came from agriculture. Energy and real estate activities also had a significant economic slowdown. According to the Bank of Estonia, the economic downturn in 2022.

At constant prices, it will reach 0.5%, but a small increase of 0.4% is forecast for 2023. Consumer prices in Estonia continued to rise, reaching a change in the consumer price index of 19.4% in 2022 compared to the previous year.

With the change in the consumer price index in 2022, housing expenditures increased by 50.8%, transport by 22.8%, food and non-alcoholic beverages by 19.9% and clothing and footwear by 6.6%. According to the Bank of Estonia's forecast, inflation will recede stubbornly and the expected increase in 2023 is 9.3%. According to the Bank of Estonia, the average gross monthly wage increased by 8.7% compared to a year ago and the increase for 2023 is also forecast at 8.7%. The increase in the minimum wage, public sector wage agreements and price increases are boosting wage growth. The total volume of retail sales in Estonia in the first eighteen months of 2022 increased

According to Statistics Estonia, at current prices by 18.8%. The largest increase was in retail sales of motor fuel by 50.0%. The retail sale of pharmaceutical and medical goods, cosmetics and toiletries increased by 10.2% in the first eighteen months of 2022.

According to the November 2022 survey data of the Estonian Institute of Economic Research, Estonian consumer confidence is very low, consumers' assessments of the state of the Estonian economy and expectations for the country's economic development are also poor.

Environmental and social impacts

TKM Beauty Estonia considers it important to take seriously the problems related to global climate change and measures the company's CO2 footprint. The amount of packaging given with the purchase has been significantly reduced in stores during the year, as a large part of the brands sold are replacing packaging with more sustainable alternatives or have completely abandoned them. The paper bag sold to I.L.U. customers is 90% recyclable.

Eco-friendly production and natural ingredients are increasingly in focus also in the brands sold in I.L.U.