The Attack on Dr. Santé and “Green Pharmacy”: How the Missile Strike on “Elfi” Shook Up the Ukrainian Cosmetics Market
31 July 20:09
ANALYSIS
The Russian Federation’s attack has dealt yet another blow to Ukrainian civilian businesses—in Kyiv, the ElfaShop flagship store was completely destroyed and the office of the well-known cosmetics manufacturer “Elfa” was damaged. How the company is coping with the aftermath of the shelling and why the destruction of the business caused such a stir on social media— read more in the article "Komersant Ukrainian".
In the early hours of July 30, Russia launched a massive combined strike on Ukrainian territory, firing over 70 missiles and more than 280 drones. In the Svyatoshynsky district of the capital, Ukrainian civilian businesses were hit. As a result of the enemy attack, the ElfaShop flagship store at 9 Ivana Dzyuba Street was completely destroyed, and the company’s office was also damaged.
“Last night, as a result of a Russian terrorist missile attack, our ElfaShop store at 9 Ivana Dziuba Street was completely destroyed. This is a great loss for our entire team. We feel pain, rage, and hatred toward the Russian terrorists who are destroying our cities, homes, and Ukrainian businesses. But we will definitely rebuild the destroyed store. After all, Ukrainians can be wounded, but they cannot be broken,” noted social media user Yulia Gagarina.
Who’s Behind the Brand: Elfa’s Corporate Profile
Elfa is one of the best-known manufacturers of mass-market cosmetics and household chemicals in Ukraine. It produces products under popular brands such as “Zelena Apteka,” Fresh Juice, Dr. Santé, O’Herbal, and many others. The company’s network includes 18 brand-name stores across the country, and its products are available in most Ukrainian pharmacies and retail chains. The legal and manufacturing foundation of the brand is the private enterprise “Pharmaceutical Factory ‘Scientific and Production Association ‘ELFA,’” which has been operating in the market for over 25 years and has a registered capital of 5 million hryvnias, according to Opendatabot. The ultimate beneficial owner of the enterprise, holding a 100% stake, is Dmytro Leonidovych Popov, and the position of director is held by Ihor Hennadiyovych Seredov.
What is the company’s revenue?
An analysis of the company’s financial and operational performance shows that, prior to the hostile takeover, the company had been increasing its gross sales volume but was facing serious challenges with regard to operating profitability. By the end of 2025, the company’s revenue had grown by 22.8% to 518.23 million hryvnias, compared to 421.95 million hryvnias in 2024. According to financial forecasts for 2026, the company’s annual revenue is expected to grow by another 6.7%— to 552.88 million hryvnias—and revenue for the first quarter of 2026 already amounted to 102.46 million hryvnias.
Despite the growth in sales volume, the company is facing margin pressure. Due to rising production costs, logistical challenges, and inflation, the company’s financial results remain in the red. Following a profitable 2023, which the company ended with a net profit of 12.47 million hryvnias, a loss of 17.25 million hryvnias was recorded in 2024, in 2025—3.13 million hryvnias, and in the first quarter of 2026, the net loss had already reached 5.71 million hryvnias.
Operational Efficiency and Financial Stability
At the same time, the company optimized its internal processes and workforce. The number of employees decreased from 396 in 2021 to 257 in 2026. At the same time, the average salary at the company nearly doubled—from 13,989 hryvnias in 2021 to 24,032 hryvnias in 2025, and annual output per employee rose to 2.02 million hryvnias.
The company’s overall financial condition is characterized by a moderate level of liquidity (ratio of 2.03), indicating the availability of current assets to cover current liabilities, with total assets of 322.8 million hryvnias and liabilities of 138.56 million hryvnias. At the same time, the current solvency ratio is negative (-136,241 hryvnias), indicating cash flow gaps.
Consequently, direct losses from the destruction of the capital’s infrastructure place an additional strain on cash flow, forcing management to seek additional working capital to restore facilities and bring the business out of operational losses.
“Poor Elfa…”: Social Media Shows Support for Well-Known Ukrainian Cosmetics Manufacturer
Following news of the shelling and destruction of Elfa Pharm’s facilities, the Threads platform was flooded with a wave of support and solidarity.
- “Nooo… I love their cosmetics! Salon Professional hair masks are the best!”
- “This is my favorite brand. The best hand creams and the only shampoo that works for me…”
- “Affordable, high-quality products. Why all this horror?”
Solidarity from the Ukrainian business community is also evident in the comments.
- “I’m a cosmetics manufacturer too; losing all this would be like losing my life”(nivi.cosmetics.ua).
- “I’ve worked with them and bought their products. I hope only the office was damaged, not the production facilities.”
In the comments, people express their sympathy for the team, wish for a swift restoration of operations, and emphasize that the hardest part of such events is realizing how many people’s stories and how much hard work lie behind every business that’s been destroyed.
The blow to Elfa Pharm’s infrastructure in the capital represents not only direct material losses but also a serious test of the company’s liquidity and internal cash flow. Facing operational losses due to rising production costs and inflation, the company is forced to seek additional resources to quickly restore the destroyed store and office. However, the company’s greatest assets in such critical moments remain its people and the loyalty of consumers who are ready to support the company financially.
