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MIAMI BEACH, Fla.,
April 20, 2011 /PRNewswire/ -- In its first full year as a public company, 2010, the biotechnology developer Divine Skin Inc. (DSKX) grew annual revenue by 55 percent over 2009 and grew Q4 revenue by 88 percent over the previous Q4, according to audited figures released today.
Annual sales reached
$5.4 million, up by
$1.9 million over the previous year. Fourth-quarter sales grew to
$1.6 million, up by
$800,000 from the same quarter of 2009.
The maker of topical treatments for hair and skin experienced rapid growth in its consumer brands, including flagship DS Laboratories and specialty lines Sigma Skin and Polaris Research Laboratories. In 2010 the company launched a premium organic line, The Pure Guild.
Divine Skin advanced significantly its technology platform for new therapies and expanded its consumer health-care division, both of which are expected to generate significant revenue once commercialized.
In his year-end letter to investors, CEO
Daniel Khesin cited three major events that contributed to the recent successes:
Distribution via Fantastic Sam's, one of the largest salon chains in the United States, with 1,300 franchises now selling the DS Laboratories brand,
Sales-education teams established in California, Florida, New Jersey, and New York to train salon personnel and optimize revenue, and
Selection of the Sigma Skin brand by prestigious retailer Neiman Marcus, with 41 upscale stores.
"Despite the tremendous growth that we witnessed in 2010, we have just scratched the surface," predicted Khesin. "Divine Skin has made several strategic investments over the past year to ensure continued growth throughout the coming months and years." The actions included:
Divine Skin brought Robin Powell aboard as head of global business development. Powell has a long history of successful ventures in the professional hair-care industry. In the eighties, he joined Sebastian, a family business selling a new line of salon products, and was instrumental in building international distribution. In the nineties, his involvement culminated in the sale of Sebastian International to Wella, which became part of Procter & Gamble. In 1994 Powell was invited by the Mascolo brothers to join TIGI. Known for the Toni & Guy salons, the Mascolos wanted to build a global professional hair-care brand. Within a few years, as vice president of business development worldwide and a member of the TIGI board of directors, Powell propelled the TIGI Bed Head line into more than a hundred countries, resulting in the eventual sale of TIGI to Unilever for more than $400 million.
Divine Skin invested significant resources in biotechnical research, yielding new compounds for high-performance products.
Divine Skin launched a health-care division to leverage discoveries by developing over-the-counter and ethical drugs.
Divine Skin unveiled its Pure Guild brand, featuring effective botanical ingredients extracted without industrial solvents or heat, targeted to customers in organic markets.
Divine Skin announced a Latin American subsidiary, DS Laboratories do Brasil Ltd., to participate in Brazil's rapidly expanding economy and cosmetics market.