Cosmos Health Inc. announced that it has enhanced and expanded its strategic collaboration with C.A. Papaellinas Group and provided an update on the number of units sold since inception in Cyprus, as well as a projection of incremental units to be sold by the end of 2024. As communicated on September 20, 2023, Cosmos Health entered into a strategic collaboration with Papaellinas to represent and distribute Sky Premium Life products in Holland & Barrett stores and pharmacies throughout Cyprus. To date, 68,000 units have been sold, and given the positive market reception, there is an increased effort to expand reach.

Consequently, the Company has enhanced and expanded its collaboration with Papaellinas and anticipates a rise in the rate of units sold, with sales expected to more than double to exceed 150,000 units within the following twelve months due to, among other factors, increased penetration in pharmacies across Cyprus. Moreover, the Company is exploring additional opportunities to expand its collaboration with Papaellinas beyond Sky Premium Life products. Founded in 1929, Papaellinas is a leading importer and distributor of beauty, pharmaceutical, and consumer products in Cyprus.

They represent a diverse array of brands, including Panadol, Sensodyne, and Kleenex, as well as Adidas, Chanel, and Hermes. The company also operates several retail chains in Cyprus, such as Beauty Line, Holland & Barrett, Yves Rocher, and Butterfly Beauty Store. The Group boasts an annual turnover of over EUR200 million and employs more than 600 individuals.