California-based biotech firm International Stem Cell Corporation announces its subsidiary Lifeline Skin Care has signed a distribution agreement with Mexico's Grupo Venta Internacional (GVI).
The deal means that the Mexican distributor will offer Lifeline's breakthrough stem cell skin care products to health care professionals throughout the country; the second largest market for aesthetic skin care in Central and South America.
Lifeline Skin Care’s technology uses ingredients that have been extracted from ISCO's human, parthenogenetic stem cells and are known to reduce the visible signs of skin aging. Over the last year and a half, Lifeline's sales have grown on average by over 40% a quarter, on a year on year basis.
According to market researcher Euromonitor, the Mexican skin care market will be worth approximately $2 billion in 2014, with anti-aging products being amongst the most popular.
"Expanding international sales is a key part of our growth strategy," says Donna Queen, president of Lifeline Skin Care.
"Initially Lifeline will be marketed only to physicians, which will lend credibility to the brand. The recommendation of a trusted health care professional is consistently rated as one of the most important considerations when selecting anti-aging skin care products.”
GVI has 24 years' experience in the plastic surgery and dermatology market in Mexico, and the credibility and presence of its 85-person national sales force, is believed to be well qualified to help Lifeline become very successful in this growing market.
"Plastic surgeons and dermatologists in Mexico are very excited about the potential for stem cell skin care products,” according to Gabriela Gonzalez Alonso, president of GVI.
“They're already familiar with the benefits of growth factors for skin rejuvenation, but the concept of stem cells elevates the technology to a whole new level. A brand that is backed by a biotech company adds even more credibility."