Official Statement of INGLOT S.A. Regarding Its Cooperation with HIPERCOSMO S.L.

LONDON, July 30, 2026 /PRNewswire/ -- In light of the public statements issued by Hipercosmo S.L., which present a one-sided account of the circumstances surrounding the termination of its cooperation with INGLOT, we wish to present the facts that constitute the actual reasons for the situation.

For more than 15 years, INGLOT cooperated with former partner in developing the INGLOT brand across the markets of Spain, Portugal and Andorra. Together, we built the brand's presence, expanded the retail network, and strengthened its market recognition.

We would like to state unequivocally that the decision to terminate the cooperation was not the result of any change in INGLOT's business strategy, nor was it an attempt to eliminate a local partner. The sole reason for this decision was Hipercosmo's prolonged failure to fulfil its financial obligations towards INGLOT.

For many months, we engaged in intensive discussions with our partner and undertook numerous efforts aimed at preserving our cooperation. On multiple occasions, we proposed revised repayment schedules, extended payment deadlines, and sought mutually acceptable solutions that would allow the business relationship to continue. Despite these efforts, at a certain point Hipercosmo ceased all communication with us, and the outstanding amounts remain unpaid to this day.

INGLOT made every effort to preserve this long-standing business relationship and to reach an amicable resolution to the situation. The decision to terminate the cooperation was taken only after all reasonable possibilities of continuing the relationship on the basis of mutual fulfilment of contractual obligations had been exhausted.

No responsibly managed company can continue supplying goods when previously due financial obligations remain unpaid. Expecting further deliveries while simultaneously failing to meet payment obligations over an extended period is unacceptable.

The publicly expressed claims alleging that the termination of the agreement was invalid are, in our view, an attempt to divert attention from the actual source of the dispute. The essence of this matter is not the interpretation of contractual provisions, but rather the failure to pay for products that had already been delivered, which ultimately led to the termination of our cooperation.

We also strongly reject any suggestion that INGLOT's intention was to eliminate its local partner. Cooperation with franchise and distribution partners remains one of the fundamental pillars of INGLOT's business model and has been successfully implemented across numerous markets worldwide. This strategy remains unchanged.

The current situation also represents a significant challenge for INGLOT. In addition to the outstanding receivables, we are experiencing the consequences of business disruption in one of our European markets. We are aware that this situation has also affected customers and business partners who relied on Hipercosmo's operations. This is a scenario we made every effort to avoid and one that was not initiated by INGLOT.

Spain remains one of INGLOT's key strategic markets, and we are fully committed to continuing the development of the INGLOT brand there. Customers can already purchase genuine INGLOT products through the brand's official website at www.inglotcosmetics.com. At the same time, we are undertaking intensive efforts to further expand our presence and rebuild our distribution network in the Spanish market. Our priority remains ensuring uninterrupted access to INGLOT products for our customers and restoring the brand's full market availability in Spain as quickly as possible.

At the same time, we would like to emphasise that the current situation is an isolated case. We cooperate with partners across numerous international markets, and our business relationships are built on mutual trust, transparency, and the timely fulfilment of contractual obligations. Our partners can be confident that INGLOT consistently honours its commitments and expects the same standards from all of its business partners.

We also wish to inform that Hipercosmo is no longer an authorised INGLOT partner and is not entitled to use INGLOT trademarks or any intellectual property belonging to our Company. INGLOT will continue to take all legal measures available to protect its trademarks and intellectual property rights.

Due to the ongoing legal proceedings, we will not comment further on the details of this matter. We firmly believe that any disputes should be resolved through the appropriate legal procedures rather than through public statements.

In conclusion, we wish to reiterate unequivocally that INGLOT did not terminate its cooperation with Hipercosmo as a result of any change in its business strategy or its partnership model. The sole reason for the termination was Hipercosmo's prolonged failure to meet its financial obligations, despite numerous attempts to resolve the matter amicably and continue our cooperation. This is the true source of the current dispute.

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