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

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.

() has appointed Instagram influencer and former Love Island contestant Liberty Poole as a Skinny Tan brand ambassador.

Poole has 1.5mln Instagram followers, of which more than 90% are female.

InnovaDerma said the engagement of Poole as a Skinny Tan brand ambassador will significantly increase brand awareness to a key tanning demographic and supports its strategy to diversify its customer base and digital media channels.

Poole is set to appear on ITV’s Dancing on Ice series, which InnovaDerma said would further increase her popularity and therefore the exposure of its Skinny Tan brand, particularly in the under 30 age demographic; historically, Skinny Tan has been mostly marketed to those in the 35 to 50 years age group.

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 PLC (LON:IDP) 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.

InnovaDerma PLC (LSE:IDP, FRA:7W6) 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.

() () chief executive Blake Hughes joins Proactive London to talk about the company’s appointment of Instagram influencer and former Love Island contestant Liberty Poole as a Skinny Tan brand ambassador.

The 22-year-old won the hearts of the nation when she said she had found self love in the villa as well as 1.5mln Instagram followers, of which more than 90% are female.

Hughes says Liberty’s values of self love, self worth and female empowerment are very much aligned with those of Skinny Tan as well as her ‘warmth and authenticity’.