Cellmid takes hair loss product to the US

Company News

by David Chau

Life sciences company, Cellmid Ltd (ASX:CDY) has entered a distribution partnership for the US launch of its ‘evolis’ branded hair loss products.

Cellmid’s partnership is with Colour Collective, a company that specialises in launching high-end hair brands in the US – for brands like Revlon, Unilever and Toni & Guy.

The company says US sales will start this year through e-commerce channels, and the goal is to exceed US$100 million worth of sales at peak level.

The company estimates the global hair loss market is worth US$7 billion per year, with America being the biggest single market at $3.5 billion (that is, half of the global market).

Cellmid reported a net loss of $1.7 million at 31 December 2015.

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.