InnovaDerma makes solid progress getting Skinny Tan into stores
Updated : 09:58
Life sciences, beauty and personal care products developer InnovaDerma updated the market on its operations on Wednesday, confirming that its ‘Skinny Tan’ portfolio would be ranged in both Lloyds Pharmacy and McCabes Pharmacy in the Republic of Ireland from late 2017.
It said Lloyds Pharmacy is the largest pharmacy group in Ireland with approximately 100 stores, and expansion plans for their store portfolio, while the McCabes Pharmacy group now operates over 30 stores nationwide.
Skinny Tan would also be stocked in “selected stores” within the Fenwick Group from the first quarter of 2018, the InnovaDerma board said, which it claimed demonstrated the potential of Skinny Tan in the premium market.
Fenwick is a family owned chain of ten department stores in the United Kingdom established in 1882.
In South Africa, the company said the portfolio would be stocked in 116 premium-category stores of the Clicks Group, which is a retail-led healthcare group with stores throughout the country, listed on the Johannesburg Stock Exchange.
Skinny Tan was also already stocked throughout Dis-Chem's stores in South Africa and Namibia.
On the continent, InnovaDerma said it was also in discussions with “leading” Italian fashion retailer OVS for the launch of Skinny Tan in 40 of its largest Shaka Innovative Beauty concessions - located in city locations across Italy - from early 2018.
“We are making excellent progress to fast track and consolidate InnovaDerma's future as one of the fastest growing companies in beauty and the personal care space,” said InnovaDerma executive chairman Haris Chaudhry.
“Securing Lloyds, McCabes, Fenwick and Clicks highlights the growing popularity of our brands across a large cross section of retail chains across various regions and is testament to the great progress we are making in the UK, Europe and South Africa.”
Chaudhry said the board was looking forward to building further on its progress as it made inroads into Europe, launched new brands and appointed new distributors globally.
“This increase in our distribution reach gives us great confidence in the further growth of our current brands and in the development and growth of the many other brands in our portfolio throughout this financial year and the next.”