(ASX:SKN)
Today’s company is aiming to become the number one recognised national and international sunscreen brand in a US$10 billion (AU$13BN) global suncare market.
You might think this is just in time for summer, but today’s company wants you to know that sun protection isn’t seasonal – it’s an all-year-round necessity.
This Australian-based developer of US FDA and Australia TGA approved natural and organic skin care products already has mainstream reach spanning over 15 countries, through its 100% natural and organic sunscreen Soleo Organics.
The company recently delivered a 20,000 tube production run of the Soleo Organics sunscreen range, with a further 20,000 to follow. A distribution agreement to distribute the Soleo Sunscreen into the WA pharmacy market could also boost production and revenue.
This $12 million capped company has already sold in the vicinity of 350,000 tubes under a test marketing program and it has just signed a Memorandum of Understanding with a global distributor that could push sales and distribution even higher.
Am acquisition of a skincare company earlier this year that has brought in $23 million across its skincare products also augers well for this company’s future.
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The company is keen to break into the Chinese market and has ambitious expansion plans.
With revenues growing by the quarter and the $1.1 million it had in the bank at the end of the September quarter, this company is in a solid position to meet its growth objectives moving forward.