- Anti-ageing product maker Cellmid (CDY) trades higher after announcing record revenue from a Japanese shopping channel event
- Over the June 12 Today’s Special Value (TSV) sale on QVC in Japan, Cellmid sold $1.38 million worth of its Jo-Ju branded hair loss products
- This is 36 per cent higher than last year’s sales revenue from the June event, and also eclipses the previous record of $1.13 million from 2019
- Cellmid CEO Maria Halasz says the strong numbers are the result of growth strategies put in place over the COVID-19 pandemic
- Shares in Cellmid are up 4.84 per cent and trading at 6.5 cents each at 3:48 pm AEST
Anti-ageing product maker Cellmid (CDY) is trading higher today after hauling in record revenue from a Japanese television shopping channel event.
The biannual Today’s Special Value (TSV) event, which airs on QVC in Japan, has been a consistent source of sales revenue for Cellmid over the past several years, but the latest revenue numbers top the charts.
Cellmid told investors it sold $1.38 million worth of its Jo-Ju branded hair loss products in just 24 hours over the June 12 event. This equates to over 80,500 bottles.
This is 36 per cent higher than the revenue from the June event in 2020, when Cellmid made just over $1 million. The year before — which was the previous record — Cellmid made $1.13 million from the event.
Cellmid CEO Maria Halasz said the strong numbers from the latest event are the result of growth strategies the company put in place over the COVID-19 pandemic.
“Further initiatives we expect to deliver growth in FY2022 are the focus on eCommerce and our new product launches,” MS Halasz said.
According to Cellmid, television shopping flourished over the pandemic alongside other forms of eCommerce as consumers were stuck at home under quarantine mandates and self-isolation orders.
While QVC Japan has remained Cellmid’s most significant distribution channel, the company said it is preparing for more long-term growth and investing in eCommerce opportunities in Australia and the US.
One of the company’s core focusses is its evolis anti-ageing hair care brand.
Other Cellmid brands include Advangen and Lexilis, and the company cells these around the world in brick and mortar stores and eCommerce channels.
Shares in Cellmid have struggled to recover from the COVID-19-induced blow in 2020, but today were trading 4.84 per cent higher to 6.5 cents each at 3:48 pm AEST.