Khiron Life Sciences Corp. Has signed a distribution deal for its Kuida CBD cosmeceutical brand with DNO Group, a leading distributor for the Asia Pacific market.
Kuida skin and body care products will be distributed by DNO Group through their network of retail and online channels in Hong Kong, with first orders anticipated in Q4 2020.
“With this distribution deal we establish a significant footprint in Hong Kong for our Kuida brand and gain access to the Asian Pacific beauty and skincare market, the world’s largest region for skincare products. DNO Group have a large distribution network of over 50,000 points of sales in the region, including prominent pharmacy, beauty retail and online channels that we know from experience in other jurisdictions are where our customers are choosing to purchase Kuida products. Importantly, DNO Group brings valuable insight into the Asian consumer profile, further supporting the impact of the brand roll-out in Hong Kong,” comments Alvaro Torres, Khiron CEO and Director.
Hong Kong is a market that serves both the local population of 7.2 million and serves as an import hub for mainland China. The Hong Kong personal care and cosmetics market is experiencing robust growth with estimated revenue of US$2.7 billion achieved in 2018 and continues to expand with many beauty and personal care items considered daily necessities, as rising health awareness and image-consciousness drives demand.
Seven Kuida SKU’s will be distributed into the Hong Kong market, with first orders anticipated in Q4 2020. This continues the Khiron strategy to target specific, high-value global CBD skincare market opportunities. Kuida is now available at over 350 points of sale in Colombia, as well as the UK and recently announced entry to Spain. Khiron was recently recognized by Technavio Research as one of the top global players in the CBD cosmetics market, alongside L’Oreal SA and The Estée Lauder Companies. Technavio is a leading global technology research and advisory company focused on emerging market trends.
“Kuida CBD based skincare products are well suited for consumers in Hong Kong, as well as for our portfolio and distribution capabilities. Furthermore, the efficacy of the products themselves is impressive. We expect a highly positive sales development for Kuida in Hong Kong going forward,” said DNO Group’s Managing Director, Ofri Shaysh.