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Inventory increased by £1.5m as they launch Nuthing and gear up for tanning season and skinny tan in all Boots stores and 700 tesco stores. Marketing to promote Nuthing and further promotion of skinny tan in boots. All geared up for H2 where they are already 17% ahead of last year. They seem well placed if they have a good H2.
over £2m end of June 2019 now down to less than £400k. That is some burn and funds must be looming. Wages up by £146K, marketing up by £642k. Need to get some control over their finances.
- HY results - Revs up 32.8% to £5.1m driven by Skinny Tan. Nuthing launch announced, hoping to emulate ST success in similar market.
GM up 240bps to 60.7% and sales in first 7 wks of H2 up 17%, better than hoped for.
Outlook of further growth in H2 and beyond
There are obviously willing sellers around & a positive announcement gives them the opportunity to offload. Results around the corner so i will rest my case, ie that this stock is cheap, until then.
so 3 products - a wax, a jelly (hair removal cream) and shaving gels - and 3 of each so 9 SKUs in total.
Hair removal is mainly shaving or cream so both methods are covered here - this is millions of women and i'm guessing thousands of men too.
Good to see interest from SA, OZ and US already.
This is my Budgie's favourite stock. Having read this morning's RNS it is jumping up & down in its cage, going "Cheap - Cheap - Cheap"
NU THING shave & shower sorbet. Vegan friendly. Interesting. Wonder what the other 8 SKUs are - think IDP mentioned it was 3 lots of 3
Photos popping up on twitter of the new product! Exciting times ahead
Popped into Manchester yesterday so nipped into the Boots at Piccadilly Station. Although a reasonable size its focus is on sandwiches/snacks and pharmacy with only a basic selection of hair/skincare products.
I have only ever seen a few self tanners stocked and never ST. Yesterday it was pleasing to see no less than 8 separate ST SKUs on a middle shelf including Wonder Serum and both new Express products.
This IMHO is very encouraging
has the new products featured online too which is good - sometimes there have been delays with UK deals feeding across the Irish Sea, but not now which is good.
Interestingly now Ireland has 27 ST products available whilst UK has 22.
For Roots, Boots UK now has 9 products (and is 3 for 2 at the moment) with the introduction of an additional conditioner, whereas Ireland only has 2 products in total. As it's a 3 stage process (spray, shampoo and conditioner) hopefully this can be rectified soon
https://www.boots.ie/sitesearch?searchTerm=skinny%20tan
Very strong blue day so far! Upward trend continues :) Looking forward to next week. GLA
so RNS for H1 results will be next Tuesday, 25th. Assuming we don't get a RNS prior to this (as we did with AGM update) then next Tuesday will be a critical update as we approach the peak tanning season.
Things that will or could be announced are :
1. H1 2020 profit. Even a low profit (includes £400k of new category costs) will be great as H1 2019 IDP lost £422k.
2. New category - we know it's called NU Thing and is related to hair removal. However, is this an alternative to Veet or also includes shaving and moisturising too, is it unisex or just for women etc.
3. News on ST progress - we know we have new products for 2020 and also an expansion in Boots and Tesco etc
4. Other product progress - in particular whether Prolong has received regulatory approval in Far East. We have orders for c6,500 units (worth c£500k) so clearly these won't be delivered until regulatory approval is provided
5. Other info to show IDPs progress e.g cash position - as a small company cash is king. We have been told it's ok, but numbers talk
A positive RNS(s) should de-risk the YE £2m profit target and make IDP look very undervalued
Just went into a small store as well. They didn't stock skinny tan last year.
This year they've got one bay (6 shelves for tanning). SkinnyTan, St tropez, Bondi sands, and Isle of paradise all had a shelf each. I think the last two shelves were smaller and own brands.
ST is already in 1,305 stores (out of c 2,250 i think).
Popped into my local Boots today, a very small store in a small town that makes most of its money on the pharmacy side.
It has a small collection of sun tan lotions and 1 shelf of self tanners (ST Tropez and own brand etc).
it was pleasing to see 2 Skinny Tans amongst the range now - including the wonder serum (not the new express one).
This is probably as small a store as Boots has so would indicate that ST has been rolled out into a larger number of stores.
Guessing small number of SKUs etc but initial order could be decent and shows relationship with Boots going well.
also a new C+L one, presumably for US market - UK should be coming soon too
https://www.charlesandlee.co/password
https://nuthing.co.uk/password
All ready for launch day
https://app.stockopedia.com/content/trading-the-trend-innovaderma-and-versarien-558441?order=createdAt&sort=desc&mode=threaded
you may need to be a member to read this - essentially says if 200 MA is breached then 100 and 115p are next two price targets
Noticed that the takeover of Harry's razors valued at £1.4bn has fallen through due to competition concerns. This got me thinking.
Here is a small company taking on the big boys in a huge market that hasn't had massive innovation for years via predominantly a unique DTC strategy.
So hair removal is the female equivalent and IDP has mentioned innovation and already effectively utilise DTC. So if IDP could be 10% as successful then we are onto a winner.
We can dream.
https://www.harrys.com/en/gb
The new category is starting in a £80 UK market,but expandable into side categories. I'm assuming it's hair removal cream which is the £80million market. There is then the potential to go into the shaving and waxing markets if it takes off. It's worth bearing in mind that £80million is at retail level so probably more like £40 to £50 million for us. About 40% goes via beauty retailers. So let's call that £16 million. Within that I'm guessing superdrug has around a 30% market share so around £5million. They're giving us a real push and I'm guessing half the shelf space so hopefully we can achieve £1million plus in the first year. With hopefully substantially more in the years after once the exclusivity ends.
https://www.statista.com/statistics/308646/leading-hair-removal-cream-wax-for-women-of-veet-in-the-uk/
Veet cream is the market leader for hair removal in the UK - according to this report 2.8m people used this in 2017.
Assuming NUTHINK is going up directly against this then it's a big market - even a 10% share would be a great return
Especially as the majority of people who buy tanning products also buy products in this new category
boon, when put like that i don't think its to unreasonable, ideally if they can do a skinny tan offer with a half price "nuthing" to get them in the door then should fly out the door, that the bonus of having their own dtc, full control