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Skin Elements witnesses smooth first half with a bevy of developments across brands

Summary

  • In the six months ended December 2020, Skin Elements made major headways in the development of Invisi Shield organic sanitiser.
  • The Company also waded into natural nail polish space with the acquisition of BeachToes.
  • Skin onboarded Mr John Poulsen to strengthen its corporate strategy for commercial operations.

Skin Elements Limited’s (ASX:SKN) first half of HY2021 was marked with positive developments across different brands. Specifically, the Company achieved significant goals in the development of its natural disinfectant and sanitiser, Invisi Shield, including a TGA application for product registration. 

Let us quickly browse through the Skin Elements’ achievements during the period:

Natural Disinfectant and Sanitiser- Invisi Shield®

SKN has continued examining the use of SE FormulaTM for several applications related to Invisi Shield® Organics as a sanitiser and as a disinfectant.

Notably, the Company has applied for Therapeutic Goods Administration (TGA) registration of the Invisi Shield® as a hospital-grade disinfectant.

ALSO READ: Skin Elements (ASX:SKN) gears up for launch of ‘game-changing’ sanitiser, Invisi Shield®

Skin Elements Dips Its Toes Into Natural Nail Polish Business

In December 2020, Skin Elements forayed into the natural nail polish space with the acquisition of ~40% equity stake in Sambora, the owner of BeachToes. The Company considers that the natural nail polish business adds value to its existing skincare product range.

Read More: Skin Elements Limited (ASX:SKN) Dips Toes into Natural Nail Polish Business

Business expansion with West Coast Naturals Collaboration

During the first half, SKN entered into a distribution agreement with the WA-based e-commerce company, West Coast Naturals.

The Company is confident that West Coast’s collaboration entails online marketing as well as sales of the Company’s SE Formula range of all organic beauty and health care products.

The partnership offers SKN the opportunity to sell its Natural Skincare product range across the Australian and Asian markets.

Do Read: Skin Elements (ASX:SKN) inks new deal to widen its reach in Australasia

Distribution Agreement for Invisi Shield

SKN and Prudential Consultants Pty Ltd entered into a binding Distribution Agreement to distribute Invisi Shield® Organics across Australia.

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Key highlights of the agreement are as follows:

  • Prudential Consultants has agreed to a minimum sales commitment of almost AU$2.4 million for the exclusive distribution of Invisi Shield® Organics in NSW and Tasmania for 3-years.
  • The agreement will also see the distribution of Invisi Shield® Organics outside NSW and Tasmania on a non-exclusive basis.
  • Prudential Consultants has commenced marketing activities for the Invisi Shield® Organics, with orders under the agreement anticipated to begin on TGA registration.

Global sales opportunity with major retail pharmacy and online

Skin Elements remains focused on generating sales for its entire natural products range across Australia and the global markets.

The Company is also concentrating on product sales across major retail pharmacy and the UK health chains, expansion of online sales portal, and supporting its distributors in Europe.

Relocation to new Head Office

In February, Skin Elements relocated to a new Head Office at 1242 Hay Street, West Perth, WA. The Company stated that the new building provided adequate space for corporate, product development, as well as sales & marketing operations with a retail shopfront.

New Appointment

SKN onboarded Mr John Poulsen as a Non-Executive Director. Mr Poulsen brings a wealth of experience and skills to the Board. Further, his appointment supports the Company in developing the corporate strategy and governance as it transitions from R&D to commercial operations.

Way Forward

Skin Elements continues to focus on its future developments and business strategies. Major activities planned ahead are:

Particularly, given the early stage of SKN’s commercial operations with its new natural products range, the Company has not disclosed the details regarding its expected developments, future prospects and commercial strategies of the operations.

On 21 April 2021, SKN shares were trading at AU$0.100 (at AEST 10:48 AM).


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