Making the announcement on 17th October 2017, the duo will explore the possibility of creating an incorporated joint venture to distribute Skin Elements’ product range to consumers in China and other global markets.
Company profiles
Listed on the Australian Securities Exchange (ASX), Skin Elements focuses on the development of natural and organic skin care products as an alternative to current chemical-based products.
This latest strategic decision forms part of Skin Elements’ wider business plan to become a “leading, recognised national and international skin care company”, the company stated.
Melbourne-headquartered health care name, Ageless Products, is well-known for its distribution, sales and marketing of high-quality Australian health care and food products into China, South East Asia and the wider world.
Ageless Products is led by Managing Director Brett Greene, a health care sector product marketer, and director Andrew Robb, the former Federal Minister for Trade and Investment, responsible for the landmark China-Australia Free Trade Agreement.
The decision
As part of the MOU, Skin Elements and Ageless Products propose to work together to consider establishing an incorporated joint venture to utilise the specialist sales, marketing, distribution and regulatory services of Ageless.
Together, the two companies aim to secure the distribution, sales and marketing of Skin Elements’ Elizabeth Jane Natural Cosmetics product range, along with the Soléo Organics 100% natural and organic sunscreen and its McArthur Skincare therapeutic and cosmetic skin care products.
Under the key terms of the MOU, the joint venture company will be called Elizabeth Jane International and will initially focus on the distribution, sales and marketing of the Elizabeth Jane product range.
Joint venture development
The company, which will be incorporated in Australia, will be a 50:50 joint venture by Skin Elements and Ageless Products. It may also cover the Soléo Organics sunscreen and McArthur Skincare product ranges.
The new joint venture will evaluate the capital, manufacturing, sales and marketing, and regulatory requirements needed to establish the Elizabeth Jane product range in China and other targeted international markets
A recent press release stated that the MOU is proposed to remain in effect until 30th November 2017. At this time, the two companies believe that the Elizabeth Jane product range will be established and long-form binding legal documentation will be executed.