This summer Khiron, a Canada-based company with its core operations in Colombia, hired a new president and secured accreditation from the Columbia Food and Drug Surveillance Institute, allowing the company to make, sell, and export CBD skin and body care.
Kuida skin care is formulated with proprietary CBDerm ingredient technology, which the company describes as being “proven to be three times more antioxidant than vitamin E, [having] anti-aging properties, as well as quick absorption and light textures to improve the penetration of CBD within the skin.”
At the time the accreditation was announced, Khiron planed to launch its products in Columbia in Q4 and later to the wider Latin American marketplace. With the distribution deals announced today, the company looks to be on track.
“These key channel partnerships enable us to execute our first go-to-market strategy, by entering the $5.6b Colombian skincare market with significant distribution and access to large and established consumer networks,” Alvaro Torres, Khiron co-founder and CEO, says in today's press release.
The three deals outlined here, serve the function of not only distributing CBD skin care but also building business partnerships that will eventually help Khiron on its way to being a leading medical cannabis company in the LATAM region.
Initially, Kuida skin care will be sold by only one traditional retailer, Farmatodo. “The exclusive agreement gives consumers direct product access based on agreed prominent store merchandising and point of purchase display across all Farmatodo stores,” according to the release. The Farmatodo pharmacy chain comprises 56 stores with annual revenue of over $120m.
“Following an exclusive period with Farmatodo, Kuida will also be available at other leading retail chains across the country,” explains the Khiron press release.
For online CBD skin care product sales, Khiron has signed with the digital drug store Farmalisto. That site sees 800,000+ visits monthly and, according to the release, has an annual sales growth of 150%. Farmalisto reaches shoppers in and beyond Columbia; Mexico is also a key market for the ecommerce site.
For its wholesale business, Khiron is again teaming up with an established pharma industry distributor. Khiron has signed a distribution deal with Distribuciones AXA, a company that works with over 8,000 retail clients and some 14,000 SKUs.
“AXA,” the press release notes, “will play an important role in Kuida´s development, allowing the brand to reach an expanded network of retailers and clients.”
Deanna Utroske, CosmeticsDesign.com Editor, covers beauty business news in the Americas region and publishes the weekly Indie Beauty Profile column, showcasing the inspiring work of entrepreneurs and innovative brands.