Cellmid launch hair loss product to vast US market
Three months of pre-launch activities culminated today in Cellmid Limited’s (ASX:CDY) launch of their évolis® hair loss range in the US.
The company’s wholly owned subsidiary, Avangen Limited, will commence online pre-sales on November 7 with product shipping to kick off on December 5.
The evolis® hair loss range is a key part of Cellmid’s business plan, which has proven to be a lead revenue driver for the company in Australia and Japan. The launch of the products in the US presents a significant opportunity for CDY to exploit the US$3.5 billion hair loss market, by far the biggest in the world.
Industry and influencers key to building the buzz
In the lead up to launch, Cellmid have focused on manufacturing and branding for the évolis® range, as well as pre-launch promotions. ‘évolis® REVERSE’ was introduced to beauty editors of fashion and lifestyle magazines, as well as influencers and bloggers.
Reaching out to key media influencers has won CDY various commitments to both product trials and editorial coverage from now up till June 2017. Advangen also introduced the product range to 250 top US hair salon chains in an industry meeting on hair loss in Atlanta, GA.
The launch, with distribution partner Colour Collective, is the company’s most significant undertaking yet, and is predicted to boost near-term profitability.
How profitable is yet to be determined so seek professional financial advice and consider all facts before making an investment decision.
Managing Director of Colour Collective, Kerry Yates said: “évolis® is poised to disrupt the $3.5 billion hair loss market in the US where over 80 million people suffer from the condition”.
The évolis® range was launched in Australia in June this year. Since then, CDY has clocked up an impressive $1,022,913 in sales for Q1 FY2017.
Advangen is one of CDY’s three wholly owned subsidiaries; others are Lyramid and Kinera, developing treatments for kidney disease and heart failure.