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InnovaDerma PLC (IDP)

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Monday 28 September, 2020

InnovaDerma PLC

US distributor appointed and Nuthing launch in AUS

RNS Number : 2028A
InnovaDerma PLC
28 September 2020
 

 LEI: 213800WRAP6W8VDL6B38

InnovaDerma PLC

("InnovaDerma" or the "Company")

InnovaDerma appoints US distributor

Nuthing ranged in Priceline, Australia

InnovaDerma (LSE: IDP), a UK developer of beauty, personal care and life sciences products, is pleased to provide the following update:

US Distributor

The PCA Group (PCA), a long-established US based beauty brands distributor, has been appointed as the exclusive distributor for all the Company's topical brands in North America and South America.  The distribution agreement will include all major retailers and e-commerce companies in these regions including Amazon.  Established 25 years ago and employing more than 600 people worldwide, PCA works with global and disruptive brands including Revlon, Too Faced, Elizabeth Arden and Burts Bees.  The Company will continue to market and sell its brands through its DTC platform and via the QvC television shopping network. 

Nuthing

Following positive responses from Priceline, all nine Stock Keeping Units of Nuthing, the Company's hair removal brand are now available to purchase in 152 stores and online. Priceline has 474 stores nationwide and is Australia's largest beauty retailer and securing initial distribution in their larger format stores is an important step forward in the Company's strategy to diversify outside the UK. The brand's entry into Australia is its first overseas following the successful launch in the UK earlier this year, in c.800 Superdrug stores, online and on the Company's DTC platform. Nuthing is the Company's latest skin-care innovation brand which is much less seasonal and complementary to Skinny Tan, offering the opportunity to cross target promotions 

Joe Bayer, Executive Chairman of InnovaDerma, said:

" We are very pleased to have appointed PCA as our distributor in the Americas for all our topical brands.  They have an excellent track record in distributing well-established and disruptive beauty brands to major retailers and online platforms and we look forward to working with them in gaining a major foothold in these markets. 

"We enjoy a strong relationship with Priceline in Australia and it is particularly pleasing to have secured distribution for Nuthing, a testament to this high quality, innovative and well-positioned brand which only launched in February this year. 

"These agreements are key to furthering our strategic aim of diversifying revenue streams outside the UK and we look forward to making further inroads in these significant markets."

Further enquiries

 

InnovaDerma

Joe Bayer

 

 

+61 (0)3 9863 8030

 

finnCap Ltd

Geoff Nash/Kate Bannatyne

Alice Lane/Manasa Patil - Corporate Broking

 

+44 (0)207 220 0500

www.finncap.com

TB Cardew

Shan Shan Willenbrock/Tom Allison

Olivia Rosser

 

+ 44 (0)20 7930 0777

[email protected]

 

 

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