InnovaDerma PLC looks to the future after GBP4.5mln fundraiser

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  • InnovaDerma regroups around core brands and e-commerce
  • InnovaDerma to gain from Amazon leverage says broker
  • InnovaDerma raise GBP4.5mln to accelerate their ecommerce model and new product development
female skin care

Quick facts: InnovaDerma PLC

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InnovaDerma is a UK developer and marketer of beauty, personal care, and clinically proven life science products.

The company has a presence in the UK, Europe, the US, Australasia, Asia, and Africa.

02 Sep 2021

InnovaDerma PLC said its two core brands, Skinny Tan and Charles + Lee are now being sold directly to consumers via Amazon in the UK and the US, having historically only been available through third parties.

“By putting in place a direct relationship with Amazon we will be able to maximise our revenues while also improving upon margins,” the beauty products group said in a statement.

InnovaDerma has also signed with talent agency Neon Management, which handles many of the UK’s top reality stars and influencers, to introduce its products to a new and younger demographic.

Blake Hughes, InnovaDerma chief executive, said: “This partnership is an important step in diversifying away from our legacy advertising providers. It not only introduces us to an important and younger consumer demographic but should also help us improve our return on advertising spend.”

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08 Jul 2021

() ended the financial year trading in line with expectations as it said it identified “goodwill and other balance sheet write-downs that will require non-cash prior year adjustments”.

The maker of the Skinny Tan range generated revenues for the 12 months to June 30 of GBP10.2mln, while the underlying loss was GBP900,000 before accounting charges or GBP1.5mln.

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29 Apr 2021

Ross Andrews, chairman of (LON:IDV), the health and personal care specialist, said management was confident of a return to historic consumption levels for its products, including the popular Skinny Tan range.

The pandemic curb to overseas travel has ultimately had a knock-on impact on those buying sun care products.

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02 Sep 2021

(, ) has given more evidence of the progress being made under new chief executive Blake Hughes, says finnCap, which has kept its target price unchanged at 90p.

Sales directly through Amazon, confirmed today, should see it benefit from the leverage afforded by the distribution network, particularly in the US.

A partnership with Neon Management, in late-stage negotiations. should also enable the beauty products group to tap into new demographics that should benefit its core Skinny Tan and Charles + Lee brands and improve margins.

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29 Apr 2021

‘s (LON:IDV) Blake Hughes presents his plans to Proactive London for their GBP4.5mln fundraiser.

The firm is planning to focus on ecommerce to ‘go from impressive numbers to even further’, and accelerate InnovaDerma’s direct-to-consumer strategy as well as strengthening its balance sheet.

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InnovaDerma raise GBP4.5mln to accelerate their ecommerce model and new…

InnovaDerma PLC’s (LON:IDV) Blake Hughes presents his plans to Proactive London for their GBP4.5mln fundraiser.

The firm is planning to focus on ecommerce to ‘go from impressive numbers to even further’, and accelerate InnovaDerma’s direct-to-consumer strategy as well as strengthening its…

on 29/4/21

2 min read

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