First-quarter 2011 Sales Reach $2.25M 126% Growth Over Q1 of 2010 for Biotech Developer Divine Skin
MIAMI BEACH, Fla., May 24, 2011 /PRNewswire/ -- Benefiting from recent investments in production and enormous demand for its products, Divine Skin Inc. (DSKX), just reported another record quarter. The leading developer of topical biotechnology for hair growth posted Q1 sales of $2.25 million, up 126 percent over Q1 of 2010. It was the fastest growth since the company went public just over a year ago.
"Although Q1 delivered a stellar number made possible by numerous improvements in logistics and fulfillment we are not yet satisfied and certainly not resting on our accomplishments," said CEO Daniel Khesin. "Divine Skin can grow even faster, and coming quarters will be proof of that."
The company's best-selling shampoo and hair-growth treatments target androgenic alopecia, the most common type of hair loss, which afflicts almost 50 percent of white men over age 40.
"We have just scratched the surface of this enormous market; the potential is endless. With the four new distribution agreements just announced, I have no doubt that shareholders will be enormously satisfied for many years to come."
Khesin was referring to new agreements to sell the DS Laboratories line via four major distributors that supply 27,000 salons and beauty professionals around the United States:
- Salon Services & Supplies, near Seattle, sells to 10,000 salons in Oregon, Idaho, Washington, and Utah.
- Sweis, in Torrance, Calif., works with 7,000 salons and licensed professionals around Southern California and Las Vegas.
- The Salon Center, of Birmingham, Ala., serves 7,000 salons in Florida, Georgia, Alabama, Louisiana, and Mississippi.
- Salon Only Sales, in River Falls, Wis., serves 3,000 salons in Wisconsin, Minnesota, and Iowa.
The new deals were due largely to Robin Powell, the industry veteran who joined Divine Skin in January as head of global business development. Powell's record of successful ventures includes the development of Sebastian, sold to P&G, and the growth of TIGI, sold to Unilever.
"Divine Skin is very fortunate to have Robin on our team," said Khesin. "Much of our current growth has come by leveraging his relationships."
About Divine Skin
Divine Skin Inc. is a biotechnology company engaged in the development of topical therapies and over-the-counter drugs that can be brought to market quickly, without lengthy regulatory requirements. In its consumer division, the company develops, markets, and distributes personal-care products through cosmetics wholesalers, online retailers, specialty outlets, spas, salons, and medical offices in more than 20 countries. Its brands include DS Laboratories, Sigma Skin, Polaris Research Laboratories, and The Pure Guild.
DS Laboratories, the flagship brand, offers high-performance topical solutions for men and women to restore growth and radiance to hair, suppress dandruff and unwanted hair, control acne, maintain feminine hygiene, and reduce the appearance of cellulite, wrinkles, and double chins (www.dslaboratories.com).
The Sigma Skin brand targets men and sells through upscale retailers such as Bergdorf Goodman and Neiman Marcus in the United States, Saks Fifth Avenue in Mexico, and Harvey Nichols in the United Kingdom. Products are designed to reverse hair loss and other signs of aging (www.sigmaskin.com).
Polaris Research Laboratories makes high-potency minoxidil-based hair-growth formulas (www.polarisresearchlabs.com).
The Pure Guild, the newest brand, offers purity with performance. The botanical compounds proven most effective in rigorous clinical trials are extracted mechanically, using no industrial solvents or damaging heat. The uncompromised treatments sell through ultra-premium food retailers (www.thepureguild.com).
Divine Skin's management believes the company has established itself as a leader in topical therapies, especially hair growth, through aggressive pursuit of innovation and technology. Products employ comprehensive formulas with multiple methods of action against common skin conditions. Many utilize proprietary encapsulation techniques for improved bioavailability.
SOURCE Divine Skin