Spectrum Brands Holdings' Remington(R) Division Announces U.S. Launch of FDA-Cleared i-LIGHT(TM) Pro Hair Removal System
MADISON, Wis., Nov 09, 2011 (BUSINESS WIRE) --
Remington(R) i-LIGHT(TM) Pro, a revolutionary, light-based hair removal system cleared by the U.S. Food and Drug Administration (FDA) and dermatologist-recommended for achieving professional quality results at home, has been introduced in the U.S. by the Remington(R) personal care division of Spectrum Brands Holdings, Inc. (NYSE: SPB), a global consumer products company with market-leading brands.
Employing exclusive ProPulse(TM) Technology to harness the power of Intense Pulsed Light (IPL), i-LIGHT(TM) Pro comfortably delivers long-lasting** results for women and men similar to laser hair removal or IPL in-office treatments.
To create this innovative, best-in-class system, Remington, a world leader in men's and women's hair care, shaving and grooming, partnered with Shaser BioScience, Inc., a global leader in developing FDA-cleared, energy-based aesthetic dermatology devices for home use.
"Only ProPulse closely matches the key light output characteristics of the best clinical hair removal devices by delivering long 110 millisecond pulses at wavelengths above 650 nanometers," said Dr. Jeffrey Dover, Board Certified Dermatologist and Co-Founder and Medical Director at Shaser BioScience. "i-LIGHT(TM) Pro is the only FDA-cleared*, over-the-counter device with this unique technology, which has been clinically proven in multi-site trials."
Exclusive to i-LIGHT(TM) Pro, the proprietary ProPulse(TM) Technology works similar to laser hair removal devices by disabling growth of the hair follicle with a laser-like flash of light that targets only the unwanted hair, while helping to keep surrounding skin cool and protected for optimal comfort. Indicative of the easy-to-use characteristics of i-LIGHT(TM) Pro, Remington offers a two-second flash rate, the fastest of any FDA-cleared IPL on the market, enabling treatment of an entire area in just minutes without any down time for re-charging.
The global retail hair removal market is estimated at approximately $16.5 billion annually, including blades, razors and other depilatories used in homes, but these over-the-counter solutions generally delivered temporary results. As recently as 2009 in the U.S. alone, professional laser hair removal/IPL were the second most popular procedure with more than 1.3 million annually, as these procedures could offer longer-term and even permanent reduction in hair re-growth.
"We're excited the FDA has cleared the device for over-the-counter sale in the U.S. and, since 'longer-lasting results' is the number-one unmet consumer need in this category, Remington is pleased to add this next-generation system to our growing product portfolio," said Dave Lumley, Chief Executive Officer of Spectrum Brands Holdings. "With the introduction of i-LIGHT(TM) Pro, we are offering an advanced hair removal option for our style-savvy, on-the-go consumers who want professional technology in a do-it-yourself setting. Delivering results that last six months**, this device will allow them the freedom to always be spontaneous."
"We are confident the U.S. launch of i-LIGHT(TM) Pro will be as successful as it has been abroad," said Drew Fiorenza, Remington North America Vice President of Sales and Marketing. "The first-generation Remington IPL system already has sold more than 100,000 units worldwide and quickly became the number-one selling home IPL device in continental Europe following its launch in early 2010***." He added that Remington plans to launch i-LIGHT(TM) Pro in Brazil and several other Latin American countries in the months ahead.
Other product features and benefits include Skin Tone Sensor technology and multiple energy settings to ensure user comfort and optimal effectiveness. Consumers may pre-order Remington i-LIGHT(TM) Pro at www.remingtonproducts.com.
* i-LIGHT(TM) Pro was FDA-cleared as an over-the-counter device intended for the removal of unwanted hair.It is intended for use by women and men on body hair below the neck, including legs, underarms, bikini line, chest, stomach and arms.
** Individual results vary. In clinical testing, on average, participants had 47.8 percent fewer hairs six months after just three treatments, similar to results observed from professional hair removal systems.
*** GfK Panelmarket, 15 CTR EU, 2010.
About Remington
Remington(R) is "How the World Gets Ready." A global leader and manufacturer of men's and women's grooming and styling products, Remington(R)is an innovator of affordable hair care, electric shavers, wet shavers, wet shave products and body groomers and trimmers, and a subsidiary of Spectrum Brands Holdings. For more information about Remington(R), visit www.remingtonproducts.com.
About Spectrum Brands Holdings, Inc.
Spectrum Brands Holdings, Inc., a member of the Russell 2000 Index, is a global and diversified consumer products company and a leading supplier of batteries, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, lawn & garden and home pest control products, personal insect repellents and portable lighting. Helping to meet the needs of consumers worldwide, the Company offers a broad portfolio of market-leading, well-known and widely trusted brands including Rayovac(R), Remington(R), Varta(R), George Foreman(R), Black & Decker(R), Toastmaster(R), Farberware(R), Tetra(R), Marineland(R), Nature's Miracle(R), Dingo(R), 8-in-1(R), Littermaid(R), Spectracide(R), Cutter(R), Repel(R), and Hot Shot(R). Spectrum Brands Holdings' products are sold by the world's top 25 retailers and are available in more than one million stores in more than 120 countries around the world. Spectrum Brands Holdings generated net sales of $3.1 billion from continuing operations in fiscal 2010. For more information, visit www.spectrumbrands.com.
About Shaser BioScience
Based in Boston, MA, Shaser BioScience is a global technological leader in developing FDA-cleared, energy-based aesthetic dermatology devices, partnering with leading global consumer brands to bring these technologies into consumers' homes.Shaser's goal is to be the dominant provider of aesthetic devices to the consumer market, by developing proprietary technologies with clinically-proven performance, extensive intellectual property, superior engineering and design, and a relentless commitment to innovation.ProPulse(TM) is a trademark owned by Shaser BioScience.
Forward-Looking Statements
Certain matters discussed in this news release and other oral and written statements by representatives of the Company regarding matters such as expected sales, adjusted EBITDA and other measures of financial performance, may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to a number of risks and uncertainties that could cause results to differ materially from those anticipated as of the date of this release. Actual results may differ materially as a result of (1) Spectrum Brands Holdings' ability to manage and otherwise comply with its covenants with respect to its significant outstanding indebtedness, (2) the inability to integrate, and to realize synergies from, the combined businesses of Spectrum Brands and Russell Hobbs, (3) risks that changes and developments in external competitive market factors, such as introduction of new product features or technological developments, development of new competitors or competitive brands or competitive promotional activity or spending, (4) changes in consumer demand for the various types of products Spectrum Brands Holdings offers, (5) unfavorable developments in the global credit markets, (6) the impact of overall economic conditions on consumer spending, (7) fluctuations in commodities prices, the costs or availability of raw materials or terms and conditions available from suppliers, (8) changes in the general economic conditions in countries and regions where Spectrum Brands Holdings does business, such as stock market prices, interest rates, currency exchange rates, inflation and consumer spending, (9) Spectrum Brands Holdings' ability to successfully implement manufacturing, distribution and other cost efficiencies and to continue to benefit from its cost-cutting initiatives, (10) Spectrum Brands Holdings' ability to identify, develop and retain key employees, (11) unfavorable weather conditions and various other risks and uncertainties, including those discussed herein and those set forth in Spectrum Brands Holdings' and Spectrum Brands' securities filings, including the most recently filed Annual Report on Form 10-K for Spectrum Brands, Inc. or Quarterly Reports on Form 10-Q. Spectrum Brands Holdings also cautions the reader that its estimates of trends, market share, retail consumption of its products and reasons for changes in such consumption are based solely on limited data available to Spectrum Brands Holdings and management's reasonable assumptions about market conditions, and consequently may be inaccurate, or may not reflect significant segments of the retail market.
Spectrum Brands Holdings also cautions the reader that undue reliance should not be placed on any forward-looking statements, which speak only as of the date of this release. Spectrum Brands Holdings undertakes no duty or responsibility to update any of these forward-looking statements to reflect events or circumstances after the date of this report or to reflect actual outcomes.
SOURCE: Spectrum Brands Holdings, Inc.
Spectrum Brands Holdings, Inc. Dave Prichard, 608.278.6141