Cellmid Limited’s (ASX:CDY) évolis® Professional anti-ageing hair care products have been registered for sale in the European Union and the UK representing the final step in a comprehensive regulatory compliance assessment of the products before they could be freely sold in Europe.
Key treatment and efficacy claims have been retained on the product labels during the review process, which provides for strong market positioning as efficacious products derived from natural plant extracts.
Cellmid has already established a partnership with one of the largest cosmetics retailers in Europe and it is expected that e-commerce sales on the partner’s platform will begin in the first half of financial year 2020.
According to industry reports, 50% of the UK beauty consumers look for products made with natural ingredients and 24% of German consumers choose to buy natural products.
In a discerning market such as the EU, the évolis Professional products - based on plant extracts and with strong clinical evidence - are expected to be well positioned.
The évolis Professional product range of all 11 SKUs will be sold in EU member states by Cellmid’s cosmetics retailer partner.
Sales through the e-commerce platform of Cellmid’s retail partner are expected to begin in the first half of next year in the EU, a large, discerning cosmetics market with relatively high disposable income, similar to the US.
Consistent with the company’s strategic plan released to the market at the end of February, the EU product registration represents yet another important milestone in the company’s plans for the global expansion of the évolis® brand.