Taxes, Transport Costs Force Closure of Historic Cosmetics Company in Chios

13 November 2017
151 Views

A historic cosmetics company at the island of Chios, Greece has decided to close its operations and move elsewhere, citing rocketing transport costs and heavy taxation.

Mastic Spa, based in Chios specializes in cosmetics products using mastic as the main ingredient.

Mastic is a resin obtained from the mastic tree and southern Chios boasts the best quality in the world.

Owner George Sodis announced that he is closing the plant in Chios, established in 1977 and is moving operations to somewhere else he did not specify.

The plant was the only cosmetics factory in the whole of the Aegean. In 2008, Mastic Spa had a network of 28 branches in Greece and abroad, with sales of € 3.5 million, employing 40 people.

In 2012 Mastic Spa was put into liquidation, with debts to banks, suppliers and former employees.

Sodis closed the old company and created Chios Land. He kept the cosmetics production workshop in Chios and two stores – one in Chios and the other in Ioannina.

Following his decision to close down operations, the historic and innovative venture of Mastic Spa is coming to an end.

Source: Greek Reporter

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