InnovaDerma : Launch of new category in Superdrug

RNS Number : 6850R

InnovaDerma PLC

31 October 2019

LEI: 213800WRAP6W8VDL6B38

InnovaDerma PLC

('InnovaDerma' or the 'Company')

Launch of new category across all Superdrug stores

InnovaDerma (LSE: IDP), a UK developer of beauty, personal care and life science products, is pleased to announce the launch of a new category and brand on the topical side of the business across all c.800 Superdrug stores. The new category will initially be exclusively stocked in Superdrug. The Directors estimate that the product category generates revenues in excess of £80m per annum in the UK.

The innovative, new skin-care related category will be launched with an initial nine Stock Keeping Units ('SKU') and has been formulated and attractively packaged with the intention to disrupt a large category which, thus far, has received little innovation and investment. The new products will be provided with prominent shelf spacing from Superdrug and sold via the Company's DTC platform in the first quarter of calendar 2020. The new category can be extended to several other product lines in a similar manner to InnovaDerma's core brand, Skinny Tan.

The launch will be supported by a marketing campaign across retail stores and through our social media channels.

The Company will disclose the category and brand name close to the launch date.

Kieran Callan, Chief Executive Officer of InnovaDerma, said:

'We are very excited about launching our new category in Superdrug. Our new brand has been formulated and packaged with the intention to disrupt a large, previously underinvested category and additionally presents a significant opportunity for us to cross-sell to our large DTC consumer base as consumers of self-tan are high purchasers of these type of products. Continuous innovation is fundamental to growing our business and we believe our new brand will be a driver for future growth.'

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Further enquiries

InnovaDerma Haris Chaudhry/Joe Bayer Kieran Callan c/o TB Cardew	[phone] [phone]
finnCapLtd Geoff Nash/Kate Bannatyne Alice Lane Ð Corporate Broking	[phone] www.finncap.com
TB Cardew Shan Shan Willenbrock/Tom Allison Olivia Rosser	+ 44 (0)20 7930 0777 [e-mail]

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