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First-quarter 2011 Sales Reach $2.25M – 126% Growth Over Q1 Of 2010 – For Biotech Developer Divine Skin

MIAMI BEACH, Fla., May 24, 2011 /PRNewswire/ -- Benefiting from recent investments in production and enormous demand for its products, Divine Skin Inc. (DSKX), just reported another record quarter. The leading developer of topical biotechnology for hair growth posted Q1 sales of $2.25 million, up 126 percent over Q1 of 2010. It was the fastest growth since the company went public just over a year ago.

"Although Q1 delivered a stellar number — made possible by numerous improvements in logistics and fulfillment — we are not yet satisfied and certainly not resting on our accomplishments," said CEO Daniel Khesin. "Divine Skin can grow even faster, and coming quarters will be proof of that."

The company's best-selling shampoo and hair-growth treatments target androgenic alopecia, the most common type of hair loss, which afflicts almost 50 percent of white men over age 40.

"We have just scratched the surface of this enormous market; the potential is endless. With the four new distribution agreements just announced, I have no doubt that shareholders will be enormously satisfied for many years to come."

Khesin was referring to new agreements to sell the DS Laboratories line via four major distributors that supply 27,000 salons and beauty professionals around the United States:

  • Salon Services & Supplies, near Seattle, sells to 10,000 salons in Oregon, Idaho, Washington, and Utah.
  • Sweis, in Torrance, Calif., works with 7,000 salons and licensed professionals around Southern California and Las Vegas.
  • The Salon Center, of Birmingham, Ala., serves 7,000 salons in Florida, Georgia, Alabama, Louisiana, and Mississippi.
  • Salon Only Sales, in River Falls, Wis., serves 3,000 salons in Wisconsin, Minnesota, and Iowa.

The new deals were due largely to Robin Powell, the industry veteran who joined Divine Skin in January as head of global business development. Powell's record of successful ventures includes the development of Sebastian, sold to P&G, and the growth of TIGI, sold to Unilever.

"Divine Skin is very fortunate to have Robin on our team," said Khesin. "Much of our current growth has come by leveraging his relationships."

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