Khiron Life Sciences Corp., an integrated medical cannabis company with its core operations in Colombia, has signed multi-channel distribution agreements for Kuida, its first CBD-based skincare brand. These agreements have been secured with Colombia´s most recognized distributors in the cosmeceutical industry.
Alvaro Torres, Khiron Co-founder and Chief Executive Officer stated, “These key channel partnerships enable us to execute our first go-to-market strategy, by entering the $5.6 Billion Colombian skincare market with significant distribution and access to large and established consumer networks.”
As part of a robust strategy, Kuida® launches with secured distributor agreements that leverage their market reach, geographic location, scale and ability to ensure the Kuida® brand achieves its market potential. These agreements reflect retail, on-line and wholesale distribution, and further the strategic goals of the Company’s wellness unit.
- Retail distribution: Kuida has entered into an exclusive agreement with Farmatodo, one of Colombia´s largest pharmacy chains with 56 stores and over 1.2 Million monthly transactions, generating annual revenue of more than US $120 Million across more than 10 product categories including, medicine, personal care, beauty and skin care, and food and beverage, among others.
The exclusive agreement gives consumers direct product access based on agreed prominent store merchandising and point of purchase display across all Farmatodo stores. Following an exclusive period with Farmatodo, Kuida will also be available at other leading retail chains across the country.
- Online Distribution: Kuida has signed an agreement with Farmalisto, Colombia’s leading digital drugstore with more than 800,000 monthly visits, sustained annual sales growth of 150% and a strong presence in both Colombia and Mexico. Farmalisto is a leading e-commerce platform, based on a strong CRM program allowing patients and consumers to access medicines and products with ease.
- Wholesale Distribution: Kuida has entered into an agreement with Distribuciones AXA S.A., one of Colombia’slargest national distributors in the pharmaceutical sector, with 14.000 product SKU’s and more than 8,000 retail clients. AXA will play an important role in Kuida´s development, allowing the brand to reach an expanded network of retailers and clients.
- Furthermore, Khiron’s wellness unit has a robust e-commerce strategy for Kuida that includes direct sales through www.kuidaskincare.com
Kuida®, the first consumer brand of Khiron’s wellness unit, is the first in Colombia that brings the benefits of Cannabidiol (CBD) to a comprehensive portfolio of skin and body care products for women. Kuida® advances CBD and innovative cosmeceutical ingredients to create our proprietary CBDERM® technology, which is proven to be three times more antioxidant than vitamin E, it has anti-aging properties, as well as quick absorption and light textures to improve the penetration of CBD within the skin.
Teodoro Zubillaga General Manager of Farmatodo stated “Having witnessed how the retail market in Colombia has evolved, how new players and brands have arrived, Khiron seeks a great opportunity in the market with an innovative product portfolio. We are sure that Kuida® will be a success with our clients”
José Joaquin Mora CEO & CO-Founder of Farmalisto stated, “The strategic alliance between Khiron and Farmalisto allows immediate delivery of CBD cosmeceutical products of the highest quality. Kuida®´s products will be available through an innovative e-commerce platform that Farmalisto offers, providing consumers with innovative products delivered with leading commercial technology provided through the most innovative digital platform”.