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NovaBay Pharmaceuticals Engages Leading Chinese Marketing Firm to Drive Consumer Sales of DERMAdoctor Skincare Products in China
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Rhea-AI Summary
NovaBay Pharmaceuticals (NBY) has engaged a leading Chinese marketing firm for integrated marketing and branding services for its DERMAdoctor skincare products. This collaboration includes managing DERMAdoctor's retail store on Tmall.com, China's top B2C online retailer, starting March 1, 2022. The marketing strategy aims to enhance brand awareness by leveraging social media and influencers, targeting a burgeoning functional skincare market projected to exceed $100 billion by 2024.
Positive
Engagement of a top Chinese marketing firm to boost DERMAdoctor's presence.
Targeting a projected $100 billion functional skincare market by 2024.
Management of DERMAdoctor's online flagship store on Tmall.com expected to increase sales.
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New marketing partner to provide omnichannel integrated marketing and branding services including managing DERMAdoctor’s flagship retail store on Tmall.com, the leading B2C online retailer in China
EMERYVILLE, Calif.--(BUSINESS WIRE)--
NovaBay®Pharmaceuticals, Inc. (NYSE American: NBY), a company developing and commercializing high-quality, scientifically formulated eyecare and skincare products, announces the engagement of one of China’s leading marketing firms for omnichannel integrated marketing and branding services of DERMAdoctor skincare products in China. NovaBay’s new marketing partner will also manage DERMAdoctor’s online flagship store on Tmall.com, the leading business-to-consumer (B2C) online retailer in China.
“As purchasing power and digitalization have increased across China, e-commerce has grown exponentially. Many of the world’s leading brands have entrusted our new marketing partner to bring their products to the vast Chinese market, and we are delighted to engage them to drive sales of our DERMAdoctor product line,” said Justin Hall, NovaBay CEO. “Over the years NovaBay has developed strong relationships in China and we know that success there is predicated on a strong, local business partner with word-of-mouth as one of the best ways to attract new customers. Our new marketing partner brings us a greatly expanded network of bloggers and influencers together with strong social media capabilities, making it an optimal choice for creating positive brand awareness and promoting sales of DERMAdoctor products.”
NovaBay’s newly engaged Chinese marketing firm will utilize its extensive market knowledge to develop a customized marketing plan for DERMAdoctor products built around functional skincare and the concepts of healthy skin and natural ingredients. The marketing and branding strategy will include social engagement with key opinion leaders to create brand awareness with messaging tailored to target audiences. Additionally, the marketing partner will expand the currently promoted DERMAdoctor KP Duty products to include the full KP Duty line of exfoliating body treatments, as well as the full Kakadu C product line of vitamin C-based elixirs with anti-aging properties.
The management of the DERMAdoctor flagship retail store on Tmall.com will be assumed by NovaBay’s newly engaged marketing partner beginning on March 1, 2022. Tmall.com accounted for more than 60% of B2C online retail transactions in China in 2020. According to Euromonitor, the market for functional skincare products in China is expected to exceed $100 billion by 2024 and to account for more than 22% of the total Chinese skincare market.
About NovaBay Pharmaceuticals, Inc:
NovaBay Pharmaceuticals, Inc. is a pharmaceutical company that develops and sells scientifically created and clinically proven consumer products for the eyecare and skincare markets. Avenova® is the most prescribed antimicrobial lid and lash spray and CelleRx® is a breakthrough product in the beauty category. In November 2021, NovaBay acquired DERMAdoctor, LLC, a company offering more than 30 dermatologist-developed skincare products sold through traditional domestic retailers, digital beauty channels and international distributors.
Except for historical information herein, matters set forth in this press release may be forward looking within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including statements about the commercial progress and future financial performance of NovaBay Pharmaceuticals, Inc. This release contains forward-looking statements that are based upon management’s current expectations, assumptions, estimates, projections and beliefs. These statements include, but are not limited to, statements regarding our business strategies, current product offerings, marketing efforts, and any future revenue that may result from selling such products, as well as generally the Company’s expected future financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or achievements to be materially different and adverse from those expressed in or implied by the forward-looking statements. Factors that might cause or contribute to such differences include, but are not limited to, risks and uncertainties relating to the size of the potential market for our products, the integration of DERMAdoctor’s business into the Company’s business, the possibility that the available market for the Company’s products will not be as large as expected, the Company’s products will not be able to penetrate one or more targeted markets, and revenues will not be sufficient to meet the Company’s cash needs. Other risks relating to NovaBay’s business, including risks that could cause results to differ materially from those projected in the forward-looking statements in this press release, are detailed in NovaBay’s latest Form 10-Q/K filings and Registration Statement on Form S-1 filing with the Securities and Exchange Commission, especially under the heading “Risk Factors.” The forward-looking statements in this release speak only as of this date, and NovaBay disclaims any intent or obligation to revise or update publicly any forward-looking statement except as required by law.
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