InnovaDerma misses deal with Korean distributor, seeks new negotiating round
January 25, 2017The deal InnovaDerma had with PROS International Company of Korea to sell InnovaDerma products in a territiroy of S Korea, Japan, China and Russia has broken apart, the UK based maker of hair and skin care products said on Wednesday.
The company announced in January 2016 that it had made an initial deal with PROS, but it hasn’t advanced into a definitive contract.
Because of that, “the minimum revenues specified as expected to accrue from the anticipated agreement in 2016 have not been achieved,” InnovaDerma said.
InnovaDerma’s product Skinny Tan is currently sold in Korea through Olive Young, which is distributed through PROS. The UK company says it is negotiating a new heads of agreement with PROS for that territory.
