Pompano Beach, Fla., April 10, 2014 (GLOBE NEWSWIRE) — DS Healthcare Group, Inc. (NASDAQ:DSKX), a leading developer of personal care products, today announced it has signed a distribution agreement with Drogaria Iguatemi, the leading high-end retail drug store chain in Sao Paulo, Brazil. This marks the second major distribution agreement signed by DS Healthcare in Brazil’s $43 billion beauty industry. The Company’s products are experiencing robust sales growth in the Rio de Janeiro metropolitan area, as well as through DS Healthcare’s Brazilian e-commerce site.
The Sao Paulo metropolitan area has a population of 20 million, in one of the fastest growing beauty markets in the world. According to a U.S. Department of Commerce report titled, Doing Business in Brazil, “Hair care products make up the largest segment of the Brazilian cosmetics and toiletries market. Shampoo sales, both imported and locally made, constitute about 50 percent of domestic sales; they are divided evenly between Brazilian and well-known multinational suppliers.”
Drogaria Iguatemi has Sao Paulo’s most affluent chain of pharmacies. Selecting to carry only the most important brands in medicine, cosmetics, derma-cosmetics and skin care products in the world. Drogaria Igautemi has already begun retailing DS Healthcare’s products.
Director of Drogaria Iguatemi, Leonardo Diniz commented, “DS Healthcare’s product line, and specifically its hair care products are a fantastic fit for our chain. Brazilians love their hair and attach much more importance to hair health and appearance than people of other cultures. This is evidenced in the high degree of spending per capita for hair care and beauty in Brazil. We are very excited to get these products on our shelves.”
“Brazil is one of the largest markets in the world for our products. Our in-country roll out strategy there is on schedule and we are pleased with the results so far. As the leading high-end pharmacy and beauty products chain in Sao Paulo, Drogaria Iguatemi offers us an ideal retail distribution channel to launch our product lines into this very important metropolitan beauty market,” added DS Healthcare President and CEO Daniel Khesin.
According to Euromonitor, a market research firm, the Brazilian beauty industry generated $43 billion in sales in 2011, an increase of 142% over the last five years, putting it in position to overtake Japan as the world’s second-largest beauty market within several years.
