Ann: Appendix 4E and FY22 Financial Report, page-13

White Labelling to me is like hauling up the white flag on your efforts to become the product leader in an exclusive field....

Your products sold via your channelling efforts = maximum profit potential, brand & identity building etc

Your products sold via someone else's channelling efforts = minimum profit potential (via discounting), brand & identity destroying etc

So, the much vaunted exclusive "Evolis" brand (& related top pricing) being retailed through top line Salons - suddenly becomes a run of the mill "Pam's" hair loss shampoo situated amongst all the other shampoos at all the local supermarkets.

Has every chance of increasing sales but with an increased reliance on quantity sold - as opposed to quality. At this level, patents mean bugger all.