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I personally don't see too much UK growth for SkinnyTan after the current financial year. Possibly from protect and glow. We've pretty much covered in the majority of relevant retailers. Possibly just a few gaps to fill, but nothing significant. I'm hoping they can get it going in the USA and Australia as they are the other main markets for self tanning would love to see some evidence of this in the results.
I don't think they believe enbright is ethical and as that is a large part of their other brands they don't want to launch it. With regards to Stevie k. That website has been there for ages, but they're not actively promoting it.
I've had high hopes for prolong, but not sure if they can deliver on the promises. They said in early July they expected news within a couple of weeks and we still haven't heard anything.
I remember KC mentioning that he felt ST was still in its early stages of brand development, I assume because it is 90% UK based so geographical expansion would seem to be the logical next step.
Agree re Enbright - although we have never been told (to my knowledge!) . Stevie K is sold via DTC. Seems to have a small presence in Australia and has c1k facebook followers. Presume income is peanuts but it has been launched.
2021 - Prolong is my big revenue hope. Get this going across multi regions and this could do £1m plus rev p.a and c£500k profit without too much effort
1) should take a lot less effort to maintain than grow.
2) shouldn't take too much all the marketing is already available.
3) agree would like to see this launch believe it could do very well. Expect we would need confirmation of a retailer launch with the results otherwise we've probably missed the launch time frame for next summer.
4) just a case of trying to get these in retailers. (curly one is in Boots). I prefer focus on international expansion for Roots.
5)agreed about Australia, but missed the summer window for this year. USA should go via a distributor. Too much to handle alone.
6) it's launched in South Africa via distribution. It's in or going in Indochino stores in USA. (hopefully via distribution). I'm hoping for the long expected UK launch.
7) Prolong has launched in UK. Life sciences seems to be seen as separate division within the company with it's own limited resources. (needs to be self sustainable).
8) see above it will become focus for life sciences division after prolong is going well.
9) shouldn't take too much focus. A little bit of additional sales, but expect it's not a lot of effort for us.
10) Enbright is dead in the water. I expect we'll never here of it again. For some reason Idp don't have a lot of believe in launching Stevie k. It's well back in the queue. Presumably they see more interest in the new category.
All in all I think the numbers for this year are secured with what we know, but I'd like to see evidence of growth for 2021. Could be via the new category or international expansion of current brands.
agreed, just speculating what the new product might be.
I'd hope it is delayed. For 2020 they already have a lot on their plates and these should drive revenues. A few are
1) maintaining momentum at Boots (and to lesser extent SD and Asda) for ST
2) rollout Wonder Serum to all retailers (when Boots exclusivity ends) and Moisture Mousse too (when SD exclusivity ends)
3) Get Protect & Glow in all retailers for summer season (DTC only I think)
4) New Roots product extensions (curly hair and platinum shampoos recently added etc
5) Get retail deals for ST in Australia and US
6) Increase C+L geographical coverage - SA was previously mentioned. Maybe US is imminent too
7) Get Prolong in UK off the ground and increase marketing in US and Australia
8) Get Growlase sales going
9) Body Glow recently added to B&M, probably as a trial. Get this in more stores and other retailers etc
10) Enbright in Asia and Stevie K cosmetics - are we selling these? Maybe relaunch these rather than focus on new products
So that's 10 areas just off the top of my head!
We already know there's a new category launching in the second half (unless it gets delayed like everything seems to do). Would be great to get more details of that on Tuesday. As well as an indication of current trading.
In July HC mentioned developing new products in addition to growing existing brands (see comments below). This got me thinking. Our Board member Ross Andrews is also chairman at Integumen (SKIN) and previously HC has mentioned looking at skin and/or acne cream. As SKIN do skin testing etc and have links with CBD companies etc I wonder if HC might be using Ross's contacts. I would if I was in his position!
"I am very pleased to report our full-year revenue will reflect growth of approximately 21% and we expect PBT to be in line with expectations with profit more than doubling from last year. The Group has made excellent progress during the year, delivered a strong financial and operational performance, which demonstrates our scalable business model and resilience in a challenging retail market. Going forward, we will be focused on product innovation, launching our brands in new territories and entering into new categories with new product launches; the combination of which we believe will further accelerate growth during the new FY. The Board is very excited for the future and the opportunities which lie ahead."