Khiron Expands EU Footprint, Signing Kuida™ Distribution Deal in Spain
- Kuida CBD skincare products to be distributed through 2,350 stores across four drug store health and beauty distributor groups in Spain
- Deal with Red Yellow Red, a leading cosmetic products master distributor, representing access to a combined 20,000 stores in Spain and Portugal
- Kuida product training, CBD category education, and brand promotional activity to support drug store distribution
- Spain represented a total skincare market of €1.5 billion in 2018 and is expected to reach €1.8 billion by 2023 (Source: Euromonitor - Passport)
TORONTO, July 2, 2020 /PRNewswire/ - Khiron Life Sciences Corp. ("Khiron" or the "Company") (TSXV: KHRN), (OTCQX: KHRNF), (Frankfurt: A2JMZC), a vertically integrated cannabis leader with core operations in Latin America and Europe, announced that it has signed a distribution deal for its Kuida™ CBD cosmeceutical brand with Red Yellow Red, a leading EU distributor of cosmetic products. Kuida skin and body care products for women will be distributed by Red Yellow Red through four major multinational drug store health and beauty distribution groups in Spain.
"The European skincare market is the largest in the world, and as we scale up our EU activity this agreement immediately expands our Kuida footprint into a €1.5 billion market. Red Yellow Red have a large and compelling distribution network, and a robust sales and education program that aligns with our proven market entry approach to help more consumers integrate Kuida into their daily skincare regimen," comments Tejinder Virk, President, Khiron Europe.
Red Yellow Red is a specialized distributor of cosmetic, beauty, lifestyle and personal wellbeing products operating in Spain and Portugal, with access to 20,000 points of sale through four drug store health and beauty distributor groups. To support Kuida sales and brand image, Red Yellow Red will initiate training of retail staff on the current Kuida portfolio, the benefits of cannabidiol (CBD), as well as the brand's unique CBDERM™ technology. Further Red Yellow Red information can be found at http://www.redyellowred.es/.
"At Red Yellow Red we look to bring innovative and first to market products to our distribution partners and in turn, consumers. Kuida fits that model and is an established skincare brand with an attractive CBD product line that, supported by our training and education program, can have strong appeal across our Spanish pharmacy network," comments José Luis Ganado, Managing Director, Red Yellow Red.
About Khiron Life Sciences Corp.
Khiron is a vertically integrated medical and CPG cannabis company with core operations in Latin America, and operational activity in Europe and North America. Khiron is the leading cannabis company in Colombia and the first company licensed in Colombia for the cultivation, production, domestic distribution, and international export of both low and high THC medical cannabis products. The Company has presence in Mexico, Peru, Uruguay, Brazil, UK, Spain and Germany, where it is positioned to begin sales of medical cannabis.
Leveraging its first-mover advantage, and patient oriented approach, Khiron combines global scientific expertise, product innovation, agricultural infrastructure, wholly-owned medical clinics, and online doctor education programs to drive prescription and brand loyalty to address priority medical conditions. Its Wellbeing unit launched the first branded CBD skincare brand in Colombia, with Kuida™ now marketed in multiple jurisdictions in Latin America, the US and UK. The Company is led by Co-founder and Chief Executive Officer, Alvaro Torres, together with an experienced and diverse executive team and Board of Directors.
This press release may contain certain "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Khiron undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of Khiron, its securities, or financial or operating results (as applicable). Although Khiron believes that the expectations reflected in forward-looking statements in this press release are reasonable, such forward-looking statement has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond Khiron's control, including the risk factors discussed in Khiron's Annual Information Form which is available on Khiron's SEDAR profile at www.sedar.com. The forward-looking information contained in this press release is expressly qualified by this cautionary statement and is made as of the date hereof. Khiron disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
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SOURCE Khiron Life Sciences Corp.
Released July 2, 2020