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|Industrial economy
Medical marijuana Company products have been adopted by Korean cosmetics brand is expected to enter the 40 million Australian dollar
2017-10-26 o-China Finance online
|783
Australian pharmaceutical company MGC Pharmaceuticals (ASX: MXC) recently announced that with the Korean cosmetics manufacturer Varm Cosmo signed a white-standard supply agreement to supply five of high-purity cannabis two phenol (CBD) cosmetics, the expected monthly sales of up to 3 million Australian dollars, Annual sales of at least 40 million, and MGC will become the first to realize income-generating medical marijuana listed companies.
Lock Asian Large single revenue in sight
According to the Convention, MGC Derma will provide five cannabis two phenol (CBD) cosmetics for Varm Cosmo Bulk, with a minimum monthly purchase of 15,000 kg. MGC Derma by MGC Pharmaceuticals and renowned cosmetic manufacturer Dr. M Burstein Ltd. joint venture, the two sides of the shareholding ratio of 51% and 49%, MGC owns the company's management control power.
The signing of the agreement marks a new opportunity for the company's transformation and will quickly generate a steady stream of income and a very high rate of gross yield. The company is expected to receive Varm Cosmo's first quarterly order by the end of October, and the first sales income will be recorded at about $3.3 million.
MGC to the supply of CBD cosmetics patents, will bulk supply products, with the help of Varm Cosmo Company mature sales Network and loyal customer groups to expand the
market . Companies are expected to continue to increase the supply of products in the future, while extending the period of cooperation.
"The signing of the agreement, whether for MGC Derma or MGC pharmaceutical companies, has a landmark significance for the company's transformation," said Roby Zomer, MGC's current CEO and founder of Robbie Zomo. In the past year, we have worked hard to build a brand, improve and perfect the operation mode; the company's research team in Europe is also intensifying efforts to develop new patented formulations in the hope of gaining a foothold in this emerging market. Varm Cosmo is a very good enterprise, the cooperation between the two sides will help further expand the consumer market. ”
The glamour of Korean makeup means great opportunity for sale
Join hands with South Korea's well-known cosmetics company means that MGC products will usher in a large number of sales opportunities.
South Korea, the top ten in the global cosmetics market, is expected to be more than $13 billion trillion in 2017, with more than half of facial care products (about 51%) and retail sales close to 6.5 billion. It is estimated that the compound annual growth rate (CAGR) will reach 5.8% in the next five years, which means that by 2020, the total market value will approximate 7.2 billion.
Facial care products can achieve such success, the key motivation lies in the development of new products. According to the Enmint Global New product Database (GNPD), more than Two-thirds (68%) of the new skincare products in South Korea in 2015-2016 are facial care products.
South Korean cosmetics in the global popularity degree has been increasing, has gradually become the Western beauty care products vane. Western cosmetic brands are always trying to find inspiration from New South Korean products and try to improve the popular Korean cosmetics to improve their product design.
Product effect outstanding, packaging design beautiful, price pro-people, all promote Korea cosmetics in the world has such a high degree of recognition.
MGC Pharmaceuticals is headquartered in Europe and has over 40 years of experience in research and development in medicinal and cosmetic cannabis products, according to the Australia-China
financial online database. In particular, focus on research and development and to the European cosmetics market to supply high-quality non-psychoactive stimulant cannabis resin extract (CBD). The company has a licensing license for cannabis cultivation, extraction and import and export in the EU area.
The two sides will sign a binding sales agreement within the next one months, while also examining the possibility of expanding the scope and availability of products in the future.
(20min delay)