Innovaderma, the UK manufacturer of cosmetics ranges including Skinny Tan, Leimo Instant Hair and Tripollar Pose, has provided a trading update for H1 2017.
The company announced that the group’s first half year results for the six months ended 31 December 2016 have been “encouraging”, with revenues forecast to grow 80% year-on-year to approximately £3m.
Fuelling growth is the company’s Skinny Tan product – a premium multipurpose self-tan brand that combines natural tanning active to tan while also reducing the appearance of cellulite.
In October last year, InnovaDerma announced plans to move production to the UK from Australia. In the first half, it also listed on the Main Market of the London Stock Exchange and entered the US market.
Going forwards the group’s strategy includes building customer loyalty and using a digital direct to consumer method to drive sales. A statement read: “The Board is pleased with the progress of the Company and looks forward to discussing this further at the time of its interim results expected to be in February.”
Skinny Tan was launched into A.S. Watson retailer Superdrug in February 2016.
The product first made an impression after the brand’s founders, Louise Ferguson and Kate Cotton, appeared on television series Dragon’s Den. The duo won the backing of two ‘dragons’, Kelly Hoppen and Piers Linney. Shortly afterwards InnovaDerma acquired the brand.
