Wellness and Beauty Solutions (WNB) gained 22.2
The company’s nailKALM product is a dermaceutical lotion to treat nail fungal infections. The product contains Anthrospira Maxima, an organic and non-toxic ingredient.
WNB CEO Christine Parks expressed delight in growing the business relationship with Chemist Warehouse and the importance of the product for Australians.
“Nail fungal infections affect one in 10 adult Australians according to the Australian Podiatry Association,” she said.
WNB expects the nailKALM to achieve over $500,000 of sales in 2020 and will be launched at Chemist Warehouse stores this month.
The nailKALM product is distributed through WNB’s fully owned subsidiary The Giving Brands Company, which owns a five year licence to manufacture and sell the product in Australia and New Zealand.
The five year licence was granted by Biovite Australia. Biovite Managing Director Danny Goldman says the Chemist Warehouse deal is a step towards the company’s greater goal.
“We have been working closely with [Giving Brands Company] to ensure nailKALM® is distributed into the Australian marketplace so the approximately 1.7M nail fungal sufferers can access a clinically proven, effective and natural treatment that really works” he said.
Earlier this year in February, WNB signed a lucrative deal with Australian distribution agency Beauty Connections. The deal granted WNB beauty care products to reach over 1,800 retail stores across Australia and South East Asia.
Stores included in the Beauty Connections deal cover Big W, Coles, Target, Priceline and Woolworths.
WNB’s market cap sits at $6.293 million as of this morning, trading shares at 2.1 cents each.