The European Bank for Reconstruction and Development (EBRD) has highlighted the impact of its development work in Latvia through a donor visit to Selfnamed, an innovative sustainable cosmetics platform supported through EU and EBRD-backed initiatives. The visit took place during the EBRD 2026 Annual Meeting and Business Forum and aimed to demonstrate how financial and technical support is helping small businesses scale while promoting sustainability.
Selfnamed, part of the MADARA Group ecosystem, has built its business model around sustainable and on-demand cosmetics production. The company focuses on reducing environmental impact by avoiding overproduction, using renewable energy, minimizing CO₂ emissions, and relying on recyclable packaging and natural, organic ingredients.
With support linked to the European Union’s Horizon 2020 programme, the EBRD contributed to strengthening the digital business model of the platform, enabling it to serve small and medium-sized enterprises seeking customizable, low-volume cosmetic production. The platform allows businesses to create and brand their own products without minimum order requirements, with fast production and delivery times.
The company’s mission is centered on making sustainable cosmetics more accessible while removing barriers for small businesses entering the market. According to its leadership, the goal is to combine environmental responsibility with commercial scalability, supporting a new generation of eco-conscious entrepreneurship in Europe.
Founded by just two employees, Selfnamed has grown into a company of around 50 staff members, with operations based primarily in Riga and additional presence in the United States. Since becoming an independent entity in 2024, the company has continued to expand its global footprint, exporting more than half of its products to the European Union, with additional markets in the United States and the United Kingdom.
Donors and partners visiting the facility emphasized the importance of creating an enabling environment for innovative startups. They noted that targeted support from institutions such as the EBRD and EU-funded programs helps strengthen local economies while encouraging sustainable business models that can compete in international markets.
The visit underscored how development finance can support not only economic growth but also environmental sustainability and digital innovation. Selfnamed’s success story was highlighted as an example of how European cooperation and investment can help small businesses scale responsibly while contributing to broader economic and environmental goals.
