Exhibit 21.1

Subsidiaries of vVARDIS Holding AG
Name of Subsidiary
Jurisdiction of Incorporation or Organization
Credentis AG
Switzerland
SSB Marketing AG
Switzerland
SSB Operation GmbH
Switzerland
SSB US Inc.
United States
Swiss Beauty Ltd.
Israel
Swiss Shine Beauty AG
Switzerland
vVARDIS AG
Switzerland
vVARDIS Inc.
United States
vVARDIS Ltd.
United Kingdom
vVARDIS SIA
Latvia
vVARDIS srl
Italy