Proactive Investors - Run By Investors For Investors

Cellmid secures second US partner to sell évolis hair growth products

The partnership further advances the company's global expansion and growth.
evolis hair growth products
The company recently completed a 20:1 consolidation of its shares

Cellmid Limited (ASX:CDY) has secured its second premium retail partner in the US, Soft Surroundings.

Soft Surroundings owns 59 stores across the US and will sell Cellmid’s évolis® Professional product range.

Soft Surroundings also has a strong online presence

Headquartered in St. Louis, Soft Surroundings is a lifestyle brand and retailer of women’s beauty products, home and apparel with a fast-growing e-commerce platform.

Soft Surroundings positions itself as a luxury lifestyle brand for busy women of all ages.

Maria Halasz, chief executive, said: “Soft Surroundings has grown remarkably during a challenging period for retailers due to impeccable customer service.

“We look forward to building a strong relationship with their customer base in 2018 and beyond.”

READ: Cellmid makes move to sell hair loss products into China

The agreement is the second premium retail relationship for Cellmid’s évolis® Professional product range, after signing the agreement with Neiman Marcus in August 2017.

It is a key milestone in the company’s US distribution strategy.

Targeting the $14.7 billion prestige hair market

Cellmid’s consumer health subsidiary Advangen currently generates all of the company’s revenue.

The consumer health segment currently sells hair growth products in Australia, Japan and the U.S, which were developed using FGF5 related intellectual property.

During the recent September quarter, the consumer health segment achieves sales of $1.03 million, up 4% on the prior corresponding quarter.

Cellmid is targeting the prestige hair care market, which is expected to reach global sales of $14.7 billion annually by 2021.

View full CDY profile View Profile

Cellmid Ltd Timeline

Related Articles

man and woman working in a lab
October 11 2018
There were no adverse safety findings and excellent drug-like properties were confirmed.
September 25 2018
The drug developer had originally to recruit 80 people for the second part of its phase II study of its SNG001 treatment, but it will now assess 120 patients
July 26 2018
Under former chief executive Peter George and his successor Shaun Chilton, Clinigen has been transformed via a series of well-judged, quickly integrated and cash generative acquisitions

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use