Leading consumer products marketer to re-launch the no!no! line of
hair-removal products to retail and direct-to-consumer channels across
HORSHAM, Pa.--(BUSINESS WIRE)--Apr. 7, 2015--
PhotoMedex, Inc. (NASDAQ and TASE:PHMD) announces the signing of
an exclusive distribution agreement by its Radiancy Inc. subsidiary with
Synergy Trading Corporation for certain no!no!™ products in Japan.
Synergy Trading Corporation, based in Osaka, has been a leading Japanese
importer of consumer products for more than a decade, managing
multinational brands from the U.S. and Europe.
This agreement includes Radiancy’s no!no! 8800 and no!no! PRO. In
addition, Synergy will launch two new no!no! models during 2016 and has
a right of first refusal to market additional Radiancy consumer
products. The agreement runs through December 31, 2016 and is renewable
thereafter. Synergy placed an initial stocking order of $1.2 million for
Synergy is best known for bringing SodaStream to Japanese consumers.
Among the many other well-known international consumer brands Synergy
markets in Japan are Mercedes-Benz bicycles, Rollie® Eggmaster, Flex
Seal and Flex Shot. The company has 50 employees and annual revenues of
approximately $60 million.
“Synergy Trading Corporation, with its proven marketing capabilities and
a strong track record with global brands, is an ideal choice for no!no!
in Japan,” commented Dr. Dolev Rafaeli, Chief Executive Officer of
PhotoMedex. “Synergy’s President and CEO, Mr. Toshihiro Haranaka, has
built a powerhouse marketer in only 15 years. Their reach includes more
than 6,000 retail sites including all the leading department stores,
specialty electronics stores and general merchandisers throughout Japan.
In addition, Synergy’s print, television, radio and web-based
advertising and its established call center will support the return of
no!no! to a country that historically accounted for a significant
portion of our consumer sales.”
“no!no! Hair is held in high regard by consumers in Japan and we are
confident in the brand’s strength to regain its leading position in the
Japanese market,” said Mr. Haranaka. “We are honored that PhotoMedex and
its Radiancy subsidiary have placed their confidence in Synergy’s
capabilities. Our company’s trademark four-leaf clover demonstrates the
four S’s upon which we were founded, namely Sincerity, Speed, Something
new and Success. We are confident our commitment to each of these will
benefit the no!no! brand across Japan when we begin sales and marketing
no!no! Hair was launched in 2007 and revolutionized hair removal by
answering the ever-growing demand for professional, pain-free hair
removal that can be performed in the comfort and convenience of the
home. The device offers a solution to unwanted hair of all types and
skin colors by instantly removing hair with no pain, no mess and no
chemicals. Based on the patented and exclusive Thermicon ™ technology,
no!no! uses heat to remove hair and get weeks of lasting results, making
it universally safe and effective for everyone.
To date more than 6 million no!no! Hair devices have been sold
worldwide, including more than 1.3 million sold in Japan since the
product was launched there in 2008. In 2012 GfK Japan found that no!no!
Hair was the leading women’s hair-removal device in Japan, accounting
for 53% of all retail sales during the six months ended March 31, 2012.
PhotoMedex is a global skin health company providing integrated disease
management and aesthetic solutions to dermatologists, professional
aestheticians and consumers. The company provides proprietary products
and services that address skin diseases and conditions including
psoriasis, vitiligo, acne, actinic keratosis (a precursor to certain
types of skin cancer) and photo damage. Its experience in the physician
market provides the platform to expand its skin health solutions to spa
markets, as well as traditional retail, online and infomercial outlets
for home-use products. As a result of its merger with Radiancy Inc.,
PhotoMedex added a range of home-use devices under the no!no!™ brand,
for various indications including hair removal, acne treatment and skin
rejuvenation. The company also offers a professional product line for
acne clearance, skin tightening, psoriasis care and hair removal sold to
physician clinics and spas.
SAFE HARBOR STATEMENT
This press release contains forward looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995
including, but not limited to, statements relating to the Company’s
future plans, strategies, potential sales and earnings growth, that are
subject to risks, uncertainties and other factors. All statements
other than statements of historical fact are statements that could be
deemed forward-looking statements, including any statements of the
plans, strategies and objectives of management for future operations,
product development, product extension, product marketing, any
statements of expectation or belief and any statements of assumptions
underlying any of the foregoing. These forward-looking statements which
are subject to certain risks, uncertainties and other factors, and the
general risks associated with the businesses of the Company described in
the reports and other documents filed with the SEC, could cause actual
results to differ materially from those referred to, implied or
expressed in the forward-looking statements. The Company cautions
readers not to rely on these forward-looking statements. All
forward-looking statements are based on information currently available
to the Company and are qualified in their entirety by this cautionary
statement. The Company anticipates that subsequent events and
developments will cause its views to change. The information
contained in this press release speaks as of the date hereof and the
Company has or undertakes no obligation to update or revise these
forward-looking statements, whether as a result of new information,
future events or otherwise.
Source: PhotoMedex, Inc.
Dennis McGrath, 215-619-3287
Sutton Golodetz, 212-838-3777