EBRD donors visit innovative cosmetics platform in Latvia

On the first day of the EBRD 2026 Annual Meeting and Business Forum, our donor community got a chance to see first-hand the impact of our common work in Latvia, by making a visit to one of many beneficiaries.

The mission of cosmetics business Selfnamed is simple: happy customers and a healthy planet – or, put in practical terms, running a sustainable cosmetics business. Avoiding overproduction, reducing CO2 emissions through renewable energy, using recyclable packaging and only natural, organic ingredients – these are just a few of the steps the business has taken to become a sustainable cosmetics leader in Europe.

With support from the European Union’s (EU) Horizon 2020 programme, the EBRD helped the MADARA Group to improve selfmade.com and enhance its digital business model. Its customers are mainly small and medium-sized enterprises who can use the platform as a one-stop-shop to create their own products and brand. No minimum order is needed, and many products are shipped within just a few days.

“Our goal was to tear down barriers for small businesses and bring natural and sustainable cosmetics products to consumers,” said Anete Vabule, Selfnamed’s Co-founder and CEO.

Selfnamed’s story is also one of continuous growth. The company started with two colleagues and has grown to 50 employees over the years, mainly in Riga but also in the United States of America. The company was bought out and became an independent entity in 2024, but still maintains strong links to its former owner MADARA Group.

Revenue has also grown consistently. More than half of Selfnamed's exports go to the EU, a third to the United States and 15 per cent to the United Kingdom.

"Visiting Selfnamed was truly inspiring – seeing EU support through Horizon 2020 in action and learning more about a startup in Latvia," said European Commission Investment Officer Ilkem Bicakli Declerck. "It really showed just how vital it is to create an enabling environment that benefits not only the company itself, but also provides a boost to other small European businesses and to the wider local economy."