- Cellmid is launching its hair-growth products onto the European and Chinese markets
- It has previously established a partnership to have its products sold in the US
- Cellmid’s share price remained flat during Tuesday’s trade. Shares in the company are currently worth 24 cents apiece.
Cellmid has signed new supply agreements to have its anti-aging hair care and hair loss products, évolis, sold in Europe and China.
The new partnerships “strengthens our [Cellmid’s] confidence in the robust, omnichannel model and growth profile of our consumer health division,” company CEO Maria Halasz said.
Leading European beauty retailer Douglas will be stocking the company’s products. For the first six months the focus will remain on e-commerce sales, with évolis ready for purchase in the coming weeks.
Douglas has 2400 stores across 26 countries in Europe and generated €3.3 billion in sales during the 2017 and 2018 financial year. Additionally, the beauty retailer has a 40 million strong membership for its loyalty card.
In China, the company has signed a 12 month deal with Aeon International, which will see évoli sold online, allowing it to tap into the huge Chinese market.
Aeon is a subsidiary of Habesul, an e-commerce network, which has ties to 150 premium beauty spas, 300 supermarkets which sell overseas imported goods and 500 high-end hair salons.
Cellmid has previously launched its products in the US through a partnership with department store Neiman Marcus.
Cellmid’s share price remained flat during Tuesday’s trade. Shares in the company are currently worth 24 cents apiece.