InnovaDerma PLC AGM Statement and Operational Update (8479V)
08 November 2017 - 6:00PM
UK Regulatory
TIDMIDP
RNS Number : 8479V
InnovaDerma PLC
08 November 2017
LEI: 213800WRAP6W8VDL6B38
InnovaDerma PLC
("InnovaDerma" or the "Company")
Operational Update
AGM Statement
InnovaDerma (LSE: IDP), a UK developer of life sciences, beauty
and personal care products, is pleased to provide the following
operational update:
Skinny Tan(TM) and Skinny Tan(TM) Professional
The Company continues to make excellent progress in Western
Europe, and the Skinny Tan portfolio will be ranged in France for
the first time through Sephora online during the first quarter of
the calendar year 2018. Sephora is a leading global cosmetic
retailer and owned by LVMH Moët Hennessy Louis Vuitton, the world's
leading luxury goods group.
Skinny Tan continues to grow in popularity in the Republic of
Ireland and InnovaDerma is pleased to announce the Skinny Tan(TM)
portfolio will be ranged in Sam McCauley Chemists located in high
streets throughout the country.
The Training Room, a training academy offering beauty therapy
courses throughout the UK, will use Skinny Tan(TM) Professional to
educate up to 500 new spray tan artists per year on the Skinny Tan
Beauty Guild-approved training course from 2018.
Roots(TM) Double Effect ("Roots")
The Company launched its internally developed haircare range
Roots in August this year and is very pleased that, in just a few
months, it is performing very strongly with excellent feedback from
our customers. As a direct consequence of the great success in
Superdrug following the launch, Roots will be ranged in more than
521 UK stores from January 2018, up from the current 390. Roots'
success is testament to the Company's highly valuable DTC strategy
in creating significant demand and footfall for its brands and
turning them into customers' favourites within the category in a
very short space of time. The Company expects that its strategy for
Roots will put it on a similar growth trajectory to that of Skinny
Tan. Additionally, the brand is not affected by seasonality.
New product range
The Company has developed a new body and skin range, including
after-sun products to be launched as a new brand extension of
Skinny Tan. These new products will be launched in more than 390
Superdrug stores in the first quarter of 2018 and have been
developed in response to the growing popularity of Body Glow, which
is performing ahead of management's expectations.
Headmaster(TM)
The Company is pleased to announce that it now has an
FDA-cleared helmet which it referred to as Headmaster, which will
be launched under the new brand, Hair MD(TM) in the United States
in the coming months. The FDA-cleared device containing laser and
LED technology will be launched subsequently in Australia and
Europe in the first quarter of calendar year 2018.
Appointment of Senior Vice President of The Americas
In order to support the Company's growth in the Americas, the
Company is pleased to have appointed Jesse Porto as Senior Vice
President of the Americas. Jesse brings with him a wealth of
experience in beauty and personal care having worked in leadership
marketing positions at blue chip companies including as an
Executive Director at the Estée Lauder Companies for Estée Lauder
International, Travel Retail and Clinique North America, Product
Director at Johnson & Johnson, and as Senior Marketing Manager
at Rimmel London.
Annual General Meeting
The Company will be holding its Annual General Meeting today at
10am (GMT) at the offices of finnCap Ltd, 60 New Broad Street,
London EC2M 1JJ. At the meeting, Haris Chaudhry, Executive
Chairman, will make the following statement:
"The Company remains confident in achieving its full year
expectations and continues to benefit from a positive market for
its product portfolio. We are focused on delivering on the
objectives we set out when we announced our results, namely to
continue to grow Skinny Tan(TM) and launch our other brands in
multiple markets in the first half of this new financial year. We
are particularly pleased by the launch of Roots which, from January
2018, will range in more than 521 Superdrug stores in the UK.
"We are replicating the success of Skinny Tan and leveraging our
highly successful DTC model to ensure this becomes a major part of
our product portfolio and enhances earnings. Our life sciences
portfolio will be a priority this year. Hair MD(TM) (Headmaster) is
now market ready for launch, firstly in the US, which provides a
foothold in the US$2.8bn hair loss market.
"Growth prospects for InnovaDerma remain substantial. Skinny Tan
is continuing to expand into new markets and new brands such as
Roots start to gain good momentum post launch. We are excited about
the future and look forward to reporting further progress during
the course of this financial year."
Further Enquiries
Innovaderma +61 (0)3 9111
Haris Chaudhry/Joe Bayer 0071
finnCap Ltd +44 (0) 20 7220
Geoff Nash/Giles Rolls/Kate Bannatyne 0500
Tim Redfern/Alice Lane - Corporate www.finncap.com
Broking
Cardew Group
Shan Shan Willenbrock
David Roach + 44 (0)20 7930
Joe McGregor 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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