Skinvisible Subsidiary Signs Distribution Agreement for Greater China
Kintari Branded Skin Care Products to Entering the Asian Marketplace
Las Vegas, NV, and Shenzhen, China - September 8th, 2016 - Skinvisible Inc., (OTCQB: SKVI), through its subsidiary Kintari Int. Inc., and EDFA Morgan Capital Co. LTD. ("EMC") (NEEQ: 838957) located in Shenzhen, China, have signed an exclusive distribution agreement for Kintari® branded products for the territory of Greater China (Includes China, Hong Kong, Macau, Taiwan, Singapore, Malaysia and Thailand).
According to the agreement, EMC will sell Kintari products to Chinese consumers through a network of online shopping malls and other channels. In addition to their local market expertise, EMC has agreements with extensive sales and distribution networks in Greater China. Kintari will supply its portfolio of globally patented skincare products made with its Invisicare® delivery technology.
"We are pleased to enter into this agreement with EMC as they have excellent access to international distribution channels," said Terry Howlett, President of Kintari Int. Inc. "This agreement marks a significant milestone in Kintari's business strategy to develop strong relationships with established marketing and distribution channels for our products. This agreement exemplifies our shared vision for accelerated and sustainable growth in future product sales and we look forward to a long, successful partnership."
"We are pleased to enter into this distribution agreement with Kintari for its high quality products," said Alexander McCoy, Director of EMC. "EMC is uniquely capable of introducing Kintari's products throughout our extensive network in Greater China. We are looking forward to this opportunity and believe this will increase revenues and bring additional business for both companies in the short and long-term."
China, with a population of over 1.6 billion people, has a strong demand for American-made products. This is driven both by the growth of a middle class in large cities as well as the increased desire for high quality products made in America. Last year China imported $2.7 billion personal care products (skincare, sun care, etc.) (Source: Global Trade Atlas). According to HKTDC Research; 69% of females surveyed would buy skincare products and cosmetics from online stores and spend an average of US$1800 a year on them.
This distribution agreement is consistent with Skinvisible's business model which includes driving revenue from the sale of its Kintari branded products through its subsidiaries Kintari USA and Kintari Canada and through international distribution and licensing agreements.