Khiron Life Sciences (KHRN.V) announced today that their brand of cosmeceuticals will be on display in Cosmoprof North America, a B2B beauty event in North America, on July 28 – 30 at the Mandalay Bay Convention Center in Las Vegas, Nevada.
Cosmoprof is an award-winning premier international business-to-business beauty trade show that houses all facets of the industry under one roof. Khiron will have Kuida, their brand of CBD-infused cosmeceuticals, front and centre at the event.
This level of exposure is a big deal for Khiron as they look to expand their reach beyond the Latin American market into a vast network of U.S. retailers, distributors and buyers through their previously announced joint venture with Dixie Brands.
“CBD-based products are rapidly taking centre stage on the global skincare market. With our proven product development and marketing experience, it is important for Kuida® to participate in the industry discussion on product innovation, consumer education, legislation, distribution and marketing, in order to assist retail buyers in making informed buying decisions,” said Elsa Navarro, Skin Unit Director of Khiron Life Sciences.
Earlier this year, the company participated in Cosmoprof Worldwide Bologna in Italy, an internationally recognized event in the industry. The event brought Kuida to the attention of global retail buyers and distributors.
A big year for Khiron
Khiron branched out from cannabis and launched their line of CBD-infused beauty products in 2018.
Kuida is the first brand in Colombia to enter into the burgeoning industry of CBD-infused skin and body care products for women, and as of at least right now, they are the only CBD skin-care line available for purchase in Colombia.
Colombia is the fourth-largest Latin American market in the cosmetics industry and is estimated to grow by 11.6% over the next 3 years, becoming one of the main targets for major international brands. Khiron’s already there with an in-demand product.
- Full portfolio of Kuida products will be exhibited at the event’s Discover Beauty Pavilion to over 40,000 retail buyers, distributors, and beauty industry professionals
- Kuida is the first Colombian mass-market CBD cosmeceutical brand to showcase at Cosmoprof
- Participation in Cosmoprof North America marks crucial step towards expansion of Kuida into the United States, subject to TSX approval, targeting $20 billion dollar U.S. cosmetic market (Euromonitor)
- Further solidifies strong relationship between Kuida and a growing network of retailers, distributors and buyers, as the brand continues to experience strong demand
- Global skincare market expected to reach USD$131 billion in 2019
Right now, the Colombian market for these products is anticipated to be worth over USD$3.1 billion. That’s not exactly the same as Brazil, at USD$30 million (but Khiron is there too) but it definitely represents room for substantial growth.
And there has been a substantial amount of growth already.
Khiron originally launched their line of cosmeceuticals with retailer Farmatodo and has expanded their distribution chain to include many of the largest retailers in the Colombian market representing 176 retail points of sales as well as significant online distribution platforms.
The company is in discussions with other top Colombian retailers and hopes to have 700 distribution points by the end of 2019. Last but not least, these products can be found already in six mall stores in four cities, and the company intends to expand that number to 20 by the end of 2019.
Khiron’s shares are up $0.17 today, and the price is hovering around $2.22.
The company has 113,927,120 shares issued and outstanding, and a market cap of $233.5 million.
Full Disclosure: Khiron Life Sciences is an equity.guru marketing client.