According to Kline Group, skin care is on track for sales of $130 billion by 2019. In response, Croda has acquired Cutitronics, reportedly to meet the growing demand in personalized skin care treatments and with new technologies. Additionally, this relationship helps Croda focus on further investing itself in its innovation program with UK universities.
Cutitronics—established in 2014 as a spin-off company at the University of Strathclyde in Scotland—has a patented handheld device to assess skin health and prepare the skin for the delivery of formulations it dispatches. The device, CutiTron, offers custom product application for the analyzed area of skin while also gathering aspects such as environmental conditions and other data. With this move, Croda will now have access for future product development to benefit consumers’ personal care routines and consider other influencing factors.
To provide the Cutitronics team with Croda’s formulation skills, in addition to more than 25 years of global personal care marketing insight, Sandra Breene, president of Personal Care & North America at Croda, will join the Cutitronics Board as a part time non-executive.
“I am delighted to be personally involved in this partnership, which will not only allow us at Croda to be part of this intelligent application platform, but also enable us to utilize the very latest digital technology to gain greater insight of consumer behavior using the data the device records,” said Breene.
“We have long known that digitalization will play a key role in our growth strategy, and with this wealth of information, we can continue to develop innovative and sustainable ingredients, provide better formulation support and share our knowledge with our customers as they strive to deliver the next generation of products to satisfy unmet market needs,” she added.
David Heath, Ph.D., founder and chief executive officer of Cutitronics explained how Croda’s support will allow his company to bring CutiTron to the market, technically and commercially.
“Their long-standing reputation in delivering innovative solutions to the personal care industry is invaluable to us and we are very excited to be working together with such a responsive and forward-looking company,” added Heath.