Cellmid makes move to sell hair loss products into China
Cellmid Limited has signed a master supply agreement with YPB Group Ltd to market the company’s évolis hair loss products in China.
The agreement will see Cellmid utilise YPB’s CONNECT platform, which will help Cellmid connect with its Chinese customers.
This is part of a comprehensive strategy to enter the Chinese consumer health market with the company’s various brands of FGF5 inhibitor hair loss products.
YPB will supply Cellmid with QR labels to be applied to its products for two key reasons.
Firstly, it protects Cellmid’s product against counterfeits and fakes as consumers are able to use their mobile phone to scan the QR code to verify the product authenticity.
Secondly, the QR code becomes a point for data collection and communication with Cellmid’s Chinese customer base.
Gaining an in-depth knowledge of the customer
Mobile device scanning of the QR code launches a cascade of digital events that sees CONNECT capture and analyse data.
This data provides Cellmid with deep knowledge of its consumers and the capacity to develop personalised interactions with them.
Once that connection is established, CONNECT can then be used for a range of personalised education, marketing and promotional activities to enrich experiences and increase loyalty.
Chief executive expects return on investment
Maria Halasz, chief executive, said: “Access to the CONNECT platform is expected to be transformative for our consumer strategy in China.
“Knowing the customer behind each sale means that we can become partners in their hair health and provide tailored, personalised information and products to suit their individual needs.
“Together with our multilayered strategy to access the Chinese consumer market, the CONNECT platform is expected to improve our return on marketing investment significantly.”
September quarter sales reach $1.03 million
Cellmid has two business segments – consumer health and its midkine (MK) portfolio.
The consumer health segment currently sells hair growth products in Australia, Japan and the U.S, which were developed using FGF5 related intellectual property.
During the recent September quarter, the consumer health segment achieves sales of $1.03 million, up 4% on the prior corresponding quarter.
The majority of sales are generated in Japan and Cellmid also recently launched its lead revenue driving évolis hair loss products into the U.S. market.