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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.
Especially as the majority of people who buy tanning products also buy products in this new category
If they can get 10% of their existing dtc customers to spend £5 on the new category then that's £300,000
I expect revenue to idp from superdrug would be more like £ 3 a unit. The average unit price is likely to be a lot lower the skinny tan unit price.
This is what one Boots is stocking
https://twitter.com/Jam4u_75/status/1220683098431590400?s=19
Also new moisture mousse express which isn't exclusive to Boots.
And a self tan remover.
Excellent news. The share price would have to be at least £1.50 for them to be meaningful you would have thought.
That report also says it's a $2.2billion market worldwide and hair removal cream, if that is indeed the category, at 41.7% would constitute a $900 million plus market.
Kieran said in his interview, when the superdrug deal was announced, that marketing would commence end of January/beginning of February.
Could also see an expanded range of products and potentially be in more Boots stores. For the majority of last year we had 19 products listed on Boots online it's currently 22.
I hope the board give themselves some good performance based share options. We need stability and need the key staff to be committed to the company. There's already been plenty of upheaval.
Erectile dysfunction and premature ejaculation aren't the same thing.
With the volume involved I suspect it's Haris.
And expandable. " The new category can be extended to several other product lines in a similar manner to InnovaDerma's core brand, Skinny Tan".
Skinny Tan started as a pure tanning product. We now have a body lotion range a suncare range and a face range. That has expanded the total market size substantially. So I'm assuming the £80 million addressable market will increase if we expand the range.
Can't disagree too much with that. I suppose the unknown is how many Boots actually ordered. I can't see us manufacturing any more within the time frame. I'd say it's 10,000 units minimum. But hopefully more.
Maybe Boots want to mix their promotions around? Also if you put a limited time on an offer I expect it drives up demand. If customers are aware it's only there for a short time they're more likely to make an impulse purchase.
Also we highlighted a superdrug limited edition range and gift set for Christmas. So that should be out soon.
It's only going to be available till the 5th of November.
My gut says the superdrug Christmas range will come out shortly afterwards.
18 sold on Boots online already this morning.
Looks good. They've previously mentioned a gift set for superdrug not Boots. So either they've got it mixed up or both Boots and Superdrug will have gift packs. That should ensure a decent uplift to last year's first half sales.