MGC gets “Cult” following for marijuana beauty products
Medical marijuana company MGC Pharmaceuticals has signed a deal with UK online beauty product distribution company Cult Beauty that will see 15 of its products and the Derma plus skincare range, globally marketed and distributed.
In a market update this week, Perth-based MGC Pharma said the six-month exclusive marketing campaign for its products will be officially launched by Cult Beauty on the 1st of February.
The deal represents a major coup for MGC Pharma just over two weeks after the company launched its first cannabis-based dermatological skin repair cream, known as “CBD Herbal Repair Cream”. The product was one of three MGC Pharma brands that passed clinical tests conducted last year at a leading dermatological clinic in Slovenia by Dr Rok Devjak.
MGC’s CBD Herbal Repair Cream, the company’s soon to be released Herbal Balm for oily and acne prone skin and the Herbal Replenish Cream, were confirmed in the tests to deliver relief from a range of irritated or inflamed skin conditions.
Cult Beauty is an excellent fit for MGC Pharma as the UK company specialises in sourcing and selling cutting edge and hard to find products to consumers around the world. The deal expands MGC Pharma’s global reach in a business where reputation and legitimacy is everything as many consumers are wary of buying medicines and skin products online from untrusted vendors.
Widespread counterfeiting is prevalent in the online marketing of fake beauty products. This has led to multi-billion-dollar cap companies, such as Este Lauder, launching aggressive online awareness campaigns.
In a market update MGC Pharma said, ‘CultBeauty.com are expert curators and trend dictators, they distil the global beauty industry down to its brightest and best, from the latest discoveries, to hundred-year-old remedies that have never been bettered. This is a beauty hall of fame that you can shop in with the knowledge that anything you buy will be outstanding.’
Roby Zomer, co-founder and CEO of MGC Pharma, said: “This agreement with a world-renowned beauty products e-tailer provides our Derma division with a new platform to market our growing range of CBD-based skin care products to a new and more diverse global cosmetics market. Cult Beauty individually and carefully selects each product that is marketed through its side, so we are delighted that they have recognised the efficacy of our products which work with the body’s natural system to support the skin’s response.”
Cult Beauty was created when two skin care “obsessives”, Jessica DeLuca and Alexia Inge, grew frustrated by condescending messaging and underwhelming offerings in the beauty industry.
Alexia Inge, Cult Beauty co-founder and CEO, said the company was spawned to cherry pick quality products “that our customers could trust”.
Cult Beauty describes itself as, ‘A dedicated team of beauty devotees on the hunt for the coolest cult products the world has to offer. Cult Beauty is the destination for those looking for the next big thing. Whether it’s a problem-solving treatment of a year unheard of oil, we pride ourselves on our transparency and only sell the product that blow us away.’
MGC Pharmaceuticals (MXC)
Closing price for the last 90 trading days
Powered by Morningstar ®