4 Sep 2017 07:00
InnovaDerma PLC
("InnovaDerma" or the "Company")
Operational Update
InnovaDerma (LSE: IDP), a UK developer of life sciences, beauty and personal care products, provides an operational update.
Skinny Tan and Skinny Tan Professional
The Board of InnovaDerma is pleased to announce that Skinny Tan in Boots Ireland is performing exceptionally well. Skinny Tan has already become the second best-selling brand out of 18 brands in its category for Boots Ireland for the month of August, despite only being made available in stores since July 2017.
Owing to the success of Skinny Tan in the Republic of Ireland, the Company has been approached by and is in negotiations with a number of retail chains who wish to stock Skinny Tan. The Company expects to expand its retail distribution network for Skinny Tan in Ireland in the coming months.
The Company has signed a distribution agreement with Regis Salons UK ("Regis"). Regis will offer Skinny Tan Professional in 20 of their stores which offer spray tanning services. Skinny Tan will also be stocked in the same 20 stores. Regis is a division of Regis Corporation (NYSE: RGS), a leading beauty salon business with approximately 10,000 salons worldwide.
Product development
Product innovation is a core driver of growth and the Company is pleased to announce two new brands in skincare and facial care which are expected to be launched on its Direct to Consumer ("DTC") platform and with a large high street retail chain in the UK in early 2018. These two new innovative products will take InnovaDerma into two new product categories.
Charles & Lee
InnovaDerma has also secured a distribution agreement with Myers, Australia's largest department store group, for Charles + Lee, a range of men's skincare containing natural and organic ingredients. Charles + Lee will initially be stocked in 30 of Myers' 60 stores nationwide.
Appointment
The Company is pleased to announce that Amy Newman has been appointed as Head of Sales and Marketing for UK and Ireland. Amy was formerly at Reckitt Benckiser Plc where she worked across senior commercial roles within Grocery and High Street Health & Beauty and has further experience in wider roles encompassing buying, eCommerce, category development and key account management. Amy will work alongside Michael Hume to continue to expand the business in the UK and Ireland.
Haris Chaudhry, Executive Chairman of InnovaDerma, said:
"Skinny Tan's performance in Boots Ireland has been exceptional and the brand goes from strength to strength as we secure more distributors for our consumer and professional product.
"Product innovation is a key driver for our business and we are excited about launching our new innovative skincare and facecare products with a large retail chain and on to our successful DTC platform.
"Charles + Lee was relaunched earlier this year, is making good progress and we are proud to be working alongside Myers, Australia's best known department store group.
"We are delighted to welcome Amy to the InnovaDerma team. She is highly experienced and we look forward to working with her to continue to build on our successes in the UK and Ireland."
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.