MGC products to be distributed by premier retailer, Harvey Nichols

By Trevor Hoey. Published at Jun 12, 2018, in ASX Biotechs

MGC Pharmaceuticals Ltd’s (ASX:MXC) has announced that 18 products from its MGC Derma collection are to be launched in June at UK retailer, Harvey Nichols.

This is a premier luxury fashion and beauty retailer renowned for sourcing new and innovative products.

MGC Pharmaceuticals managing director Roby Zomer said: “We are excited to see the MGC Derma collection gaining such traction with premium retail platforms internationally.

“Harvey Nichols is known for its strict selection of brands and we feel we are well positioned alongside some of the industry’s leading products.”

We should note that it remains to be seen how much of the market MXC will be able to attract at this stage, so investors should seek professional financial advice if considering this stock for their portfolio.

Founded in 1831, Harvey Nichols has stores in major cities in the UK, including London.

Outside of the UK, international stores include Riyadh, Hong Kong, Dubai, Istanbul, Doha, Ankara and Kuwait.

MGC pharma harvey nichols

Promising test results provide market acceptance

MGC Derma and Derma Plus cosmetic products cosmetic products contain cannabidiol (CBD), developed and produced by MGC Pharma for its cosmetics division.

In the course of independent testing, the three products tested showed strong improvement in skin conditions, relieving redness, dryness, flaky and oily indications for acne related symptoms or skin prone to blemishes.

Following the results, 92% of patients continued using the tested cream.

MGC products to be given prominent position

Commencing June 29, 2018 MGC’s products will be sold on the ground floor of the Beyond Beauty department within Knightsbridge and its e-commerce stores at luxury retailer Harvey Nichols.

After release of the news, share price was up 5% in early morning trading.

The past performance of this product is not and should not be taken as an indication of future performance. Caution should be exercised in assessing past performance. This product, like all other financial products, is subject to market forces and unpredictable events that may adversely affect future performance.

Importantly, this deal will provide immediate revenue generation, while also broadening consumer awareness.

Management is planning a targeted marketing program to take advantage of this momentum.

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S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

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