Amexdrug Corp. (Beverly Hills, Calif., USA) announced its wholly owned subsidiary, Dermagen Inc., has developed a line of skin care products. Marketed under the brand Môntage Paris and featuring up to 25 different products, the line reportedly will be similar to Lancôme, Chanel and other high-end French skin care products. According to Market Newswire, Dermagen will handle all of the manufacturing duties through its FDA registered and approved manufacturing facility.
As part of its marketing strategy, the company has reserved the Internet domain name of montageparis.com, and initially plans to bring their new products to domestic and international markets through trade shows and Internet marketing. Following its acquisition of Dermagen late last year, the company has aggressively implemented its strategy to distribute products internationally and to increase margins for the parent company.
According to the report, the cosmetics and skin care industry is currently experiencing tremendous growth, with global sales of antiaging treatments alone topping out at US$9.9 billion in 2004, up 71% from the previous year (Source: TIME magazine). Globally, the skin care market tallied over US$50 billion in sales in 2001 (Source: Euromonitor International). In the United States, the world's largest consumer of skin care products, sales have risen at an annual compound growth rate (CGR) of 14.5% from 1995 to 2000.
Dermagen has been owned and operated by pharmacists and can provide complete development services as well as extensive experience in the manufacture of skin care products. Amexdrug's wholly owned subsidiary, Allied Med Inc., was formed in October 1997 and is engaged in the pharmaceutical wholesale business of selling brand name and generic pharmaceutical products, over-the-counter drug and non-drug products, and health and beauty products.