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Cellmid (ASX:CDY) - Managing Director & CEO, Maria Halasz - The Market Herald
Managing Director & CEO, Maria Halasz
Source: The Australian
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  • Cellmid (CDY) subsidiary, Advangen, has signed a distribution agreement with Tru Beauty Concepts for its anti-aging hair care products, évolis
  • Tru Beauty is a salon distributor that services 40,000 salons across the U.S.
  • Under the agreement, Tru Beauty will sell the évolis range to salons in northeast America for five years
  • Cellmid is up four per cent on the market today and shares are trading for 13 cents per share

Cellmid (CDY) subsidiary, Advangen, has signed a distribution agreement with Tru Beauty Concepts for its anti-aging hair care products, évolis.

Tru Beauty is a salon distributor and national educator, servicing 40,000 salons through the United States.

Under the agreement, Tru Beauty will sell the évolis range to salons in northeast America for five years.

évolis will also be listed on the Salon Interactive portal, which is an e-commerce hub for hair salons across the U.S. This deal is expected to result in significant revenue growth in the U.S. business during the second half of the 2021 financial year.

CEO Maria Halasz says this agreement is a "game-changer."

"Securing salon distribution will add scale to our U.S. expansion and growth ambitions for the brand," she added.

The deal comes as consumer health services in the U.S. increased by 51 per cent to $626,000 over FY20.

Cellmid is up four per cent on the market this afternoon and shares are trading for 13 cents per share at 1:26 pm AEST.

CDY by the numbers
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