InnovaDerma PLC Launch of haircare range and entry into skincare (7222F)

TIDMIDP

RNS Number : 7222F

InnovaDerma PLC

22 May 2017

InnovaDerma PLC

("InnovaDerma" or the "Company")

InnovaDerma (LSE: IDP), a UK developer of life sciences, beauty and personal care products is pleased to announce the upcoming launch of a new haircare product range and its entry into the UK skincare market.

New haircare range in Superdrug

InnovaDerma has developed an innovative and highly-effective topical haircare range for men and women to aid hair regrowth and hair thickening. The haircare range will initially consist of five products, including uniquely formulated shampoos and conditioners, in attractive packaging and will be available in Superdrug's top 400 stores throughout the UK from August 2017. The Company expects to launch the new haircare range on its UK Direct to Consumer ('DTC') channel at the same time, and elsewhere in Europe later in the year. This new haircare range will be launched separately from Leimo which is only distributed in Australasia.

Entry into the UK skincare market

InnovaDerma has developed a new range of Skincare products under the brand name "Body Glow", as a brand extension of Skinny Tan, which has launched with the release of an everyday body moisturizer. Body Glow is stocked in the skincare section in more than 500 Superdrug stores and is performing ahead of management's expectations. This latest InnovaDerma brand was developed to leverage the growing popularity of Skinny Tan which is stocked in the bronzing section of Superdrug. The Company expects to launch other skincare products under the Body Glow brand throughout 2017 and beyond to make further inroads into the skincare category.

Haris Chaudhry, Executive Chairman of InnovaDerma said:

"We are delighted to launch our new topical haircare range and it is particularly pleasing that Superdrug will be stocking the new products in so many of their stores nationwide which is testament to the outstanding performance of Skinny Tan and our ability to develop and grow a brand exponentially. Similarly, our entry into the skincare market through Body Glow reflects the success of our flagship brand and we look forward to launching new products later this year to drive future earnings."

Further enquiries:

 
 InnovaDerma 
  Haris Chaudhry/Joe Bayer      [phone] 
---------------------------  ----------------------- 
 Sole broker 
  Hybridan LLP 
  Claire Noyce                  [phone] 
---------------------------  ----------------------- 
 Cardew Group 
  Shan Shan Willenbrock 
  David Roach                   + 44 (0)20 7930 0777 
---------------------------  ----------------------- 
 

About InnovaDerma:

InnovaDerma PLC (LSE: IDP) specializes in the research, manufacture and marketing of clinically proven products in life sciences, beauty and personal care products. InnovaDerma has presence in the UK, US, Australia, New Zealand, Philippines, South Africa, Hong Kong and South Korea.

www.innovaderma.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

PRLSFEFIUFWSESI

(END) Dow Jones Newswires

May 22, 2017 02:00 ET (06:00 GMT)