Cellmid agrees distribution deal with Bloomingdale’s to stock évolis professional range

Cellmid ASX CDY distribution Bloomingdale's évolis

Life sciences company Cellmid (ASX: CDY) has secured a potentially money-spinning partnership with Bloomingdale’s, a prominent US retailer, for the sale of its évolis product range.

Bloomingdale’s’ parent company Macy’s currently more than 690 department stores in 44 states across the United States and will soon be stocking Cellmid’s first skincare range which caters for “millennial and Gen-X consumer preferences”, with Cellmid confirming that sales are expected to commence in June 2018.

“Bloomingdales represents the third premium retail group in the USA for évolis Professional. With our successful online business in Neiman Marcus, recent commencement of online sales via US-based Soft Surroundings and now securing a partnership with Bloomingdale’s, our USA distribution strategy is clearly working,” said Maria Halasz, CEO of Cellmid.

“Overall, we are confident that our business focus to develop and market only clinically validated ‘first in class, best in class’ consumer products will deliver growth for our shareholders,” she added.

Cellmid is conducting its commercial strategy and selling clinically validated anti-ageing products for hair, skin and body, via its wholly-owned subsidiary Advangen.

Advangen has a range of “FGF5 inhibitor” hair growth products which are sold in Australia, Japan, USA and China. Furthermore, Cellmid’s subsidiary wields a portfolio of hair growth and anti-aging haircare assets which include formulations of products on trademarks, patents and patent applications, proprietary assays and manufacturing processes.

Cellmid’s commercial agreement with Bloomingdale’s builds upon its series of commercial milestones achieved since the start of this year, as part of a “global marketing and distribution strategy delivering results”.

Earlier this month, Cellmid entered into an exclusive distribution agreement for Fillerina, a market leading anti-aging skincare brand, in Australia and New Zealand. The distribution deal meant that Advangen had obtained its first skincare range.

The company also recorded a record A$2.2 million in receipts from customers this quarter, an increase of 81% compared to the same period last year.

The life sciences company also reported A$4.49 million in consumer health sales since June 2018 (the financial year to date) which is marginally better than the A$4.45 million compared to last year’s figure.

Filip is the founder of Small Caps and provides analysis on the global economy, geopolitical matters, commodities and equities. He also has many years experience as a professional share market investor and trader.