27 Sep 2017 07:00
InnovaDerma PLC
("InnovaDerma" or the "Company")
InnovaDerma widens distribution network
InnovaDerma (LSE: IDP), a UK developer of life sciences, beauty and personal care products, is pleased to provide the following update:
Lloyds Pharmacy & McCabes Pharmacy Ireland
The Skinny Tan portfolio will be ranged in both retailers in the Republic of Ireland from late 2017. Lloyds Pharmacy is the largest pharmacy group in Ireland with approximately 100 stores, and expansion plans for their store portfolio.
McCabes Pharmacy group now operates over 30 stores nationwide and continues to be a pioneer in the Irish pharmacy market, offering innovative products and exceptional service.
Fenwick Group
Skinny Tan will be stocked in selected stores within the Fenwick Group from the first quarter of 2018, which demonstrates the potential of Skinny Tan in the premium market. Fenwick is a family owned chain of ten department stores in the United Kingdom established in 1882, which over the centuries has maintained its reputation for distinctiveness and innovation, prestige and value.
South Africa
The Clicks Group is a retail-led healthcare group with stores throughout South Africa and is listed on the Johannesburg Stock Exchange. The portfolio of products will be stocked in 116 of its premium category stores. Skinny Tan is also stocked throughout Dis-Chem's stores in South Africa and Namibia.
Europe
The company is also in discussions with leading Italian fashion retailer OVS S.p.a. for the launch of Skinny Tan in 40 of its largest Shaka Innovative Beauty concessions located in city locations across Italy from early 2018.
Haris Chaudhry, Executive Chairman of InnovaDerma, said:
"We are making excellent progress to fast track and consolidate InnovaDerma's future as one of the fastest growing companies in beauty and the personal care space. Securing Lloyds, McCabes, Fenwick and Clicks highlights the growing popularity of our brands across a large cross section of retail chains across various regions and is testament to the great progress we are making in the UK, Europe and South Africa. We look forward to building further on this progress as we make inroads into Europe, launch new brands and appoint new distributors around the globe. This increase in our distribution reach gives us great confidence in the further growth of our current brands and in the development and growth of the many other brands in our portfolio throughout this financial year and the next."
Further Enquiries
Innovaderma Haris Chaudhry/Joe Bayer | +61 (0)3 9111 0071 |
finnCap Ltd Geoff Nash/Giles Rolls/Kate Bannatyne Tim Redfern/Alice Lane - Corporate Broking | +44 (0) 20 7220 0500 www.finncap.com |
Cardew Group Shan Shan Willenbrock David Roach Joe McGregor
| + 44 (0)20 7930 0777 |
About InnovaDerma
InnovaDerma PLC (LSE: IDP) specializes in the research, manufacture and marketing of clinically proven products in life sciences, beauty and personal care products. InnovaDerma has presence in Europe, US, Australasia, Asia and Africa.