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Aqua Bio Technology ASA (ABT) has entered into an agreement with SIA Laiks-Mode of Riga, Latvia for the distribution of Moana Skincare products in Latvia, Lithuania and Estonia.
Through the agreement ABT adds territories with a total of almost six million people to the available European market for Moana Skincare. ABT has commenced distribution of these beauty products in European territories totalling almost 270 million inhabitants. The company has established distribution channels in Russia, Germany, Austria, Switzerland and Scandinavia. Outside Europe, the company has secured distributors in Kuwait, India and Hong Kong.
ABT obtained its first commercial rights for the Moana series in 2017. Moana is manufactured in New Zealand, and its main active ingredients are derived from seaweed found in the South Pacific. Initially, ABT obtained the commercial rights for Europe, the Middle East and Africa (EMEA). The rights were expanded to include also certain Asian countries in 2019.
“The partnership with SIA Laiks-Mode is an important milestone in our efforts to develop ABT into an international supplier of natural skincare products. We are now rolling out Moana Skincare in a great number of markets,” said ABT’s head of global sales, Arvid Lindberg.
SIA Laiks-Mode operates its own stores in Riga and is expanding into the neighbouring Baltic states. The company is also a distributor of high-end cosmetics brands, serving spa salons and exclusive retailers in the region.
“We are very impressed by the performance of the Moana products and look forward to be able to offer them exclusively in our markets,” said SIA Laiks-Mode’s owner and CEO Jelena Golubeva.
For further information, please call Arvid Lindberg, head of global sales, telephone +47 9824 5410.
Aqua Bio Technology (ABT) is developing and commercializing sustainable biotechnology for use in skin care products. ABT’s cosmetics ingredients are highly effective and they provide the cosmetics industry with natural alternatives to traditional ingredients. ABT is also marketing and distributing natural skin care products developed by partners towards consumers and professional users. Aqua Bio Technology is listed on the Axess market of the Oslo Stock Exchange.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act