Tech and eCommerce company Crowd Media (ASX: CM8) is continuing to grow its burgeoning stable of brand partnerships that bring popular consumer goods to Europe with US-based skincare company MD Complete the latest to utilise Crowd’s influencer network in a lucrative market.
The 3-year exclusive distribution agreement will see Crowd Media market MD Complete’s Dermatologist-formulated skincare products in Europe through their extensive influencer marketing network in 12 different languages.
“We are excited to have executed a deal with MD Complete,” said Crowd Media CEO, Domenic Carosa.
“We will be leveraging our existing influencer network and the ubiquitous Amazon e-commerce marketplace to grow our MD Complete business in Europe where customers will be able to access clinic-quality anti-aging skin treatments from the comfort of their homes.”
Material impact will be dependent on sales volume but Crowd has confirmed that agreed margins are in line with industry standards around 60-75%, a field Crowd is experienced in capitalising on through Chairman Steven Schapera who founded BECCA Cosmetics before selling to Estee Lauder for $300 million.
Based in the United States, MD Complete products provide vegan and cruelty-free at-home skincare products that are free of harmful chemicals. These skincare products offer dermatologist level results without the burden of prescription or expensive in-office procedures.
Expected to be popular among millenials, the target demographic of Crowd’s network consisting of more than 10,000 influencers, Europeans will be able to access clinic quality skincare from the comfort of their homes – an emerging trend that developed through pandemic-enforced lockdowns.
“We developed MD Complete to broaden access to the kinds of results you historically had to go to a dermatologist to achieve,” said MD Complete Founder, Dr Brian Zelickson.
“ This skincare helps restore balance and strengthen your skin, which can be compromised by the effects of stress, lack of sleep, environmental conditions … even wearing masks”
The new brand partnership comes a week after Crowd Media announced their FY20 results which were headlined by a $2.8 million financial turnaround. This was driven by artificial intelligence developments that are being developed for integration into Crowd’s retail business and conversational commerce touted to be a game-changer in influencer marketing.
The global vegan cosmetics market is projected to reach $20.8 billion annually by 2025, propelled by millennials.
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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