Amyris Inc., an industrial bioscience company, on Friday announced it has entered into a memorandum of understanding for an exclusive distribution and reseller agreement with Contém 1G, one of the leading cosmetics companies in Brazil.
"This is a significant step for our Biossance brand, where we see an opportunity for sales to Contém 1G in the range of $8 million to $12 million in the first year of the relationship, as well as a rapid expansion of the brand in a 'direct to consumer' sales model where consumers can try and buy our product immediately," Caroline Hadfield, senior vice president for personal care at Amyris, said.
After the completion of definitive agreements, Amyris plans to introduce Biossance's The Revitalizer, its initial featured skin moisturizer, to Brazil. Amyris also plans to introduce an additional five Biossance products through 2016 and a hair care line by the end of 2016. Amyris will have access to Contém 1G's retail sales outlets as its exclusive skin care product line.
"After the initial launch of our first product, Biossance The Revitalizer, on our branded website (www.biossance.com), this agreement marks our first step toward growing retail sales and distribution channels for Biossance with companies like Contém 1G, which enjoy leading positions in the markets they serve," Hadfield said.
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