ABT signs distribution agreement with LICA Enterprises Group
ABT signs distribution agreement with LICA Enterprises GroupCategory: Press Releases
Aqua Bio Technology ASA (ABT) has entered into its third commercial distribution agreement in Asia for its flagship ingredient Aquabeautine XL™ (formerly known as Zonase X™) with Taiwanese company LICA Enterprises Group.
The agreement yields LICA Enterprises Group exclusivity on marketing and distribution of ABT’s products in Taiwan, China and Hong Kong.
This agreement allows ABT to complete its distribution network in the largest cosmetics markets globally. ABT’s strategy is to partner with leading distributors of cosmetic raw materials worldwide while maintaining its internal marketing focus. This yields ABT a greater degree of flexibility and strengthens the commercialization process of ABT’s patented ingredients in major target markets.
Under the agreement, LICA Enterprises Group will market Aquabeautine XL™ to its extensive customer base of 300 cosmetics manufacturers. Through its 3 business bases, located in Taipei, Shanghai and Guangzhou, all set with a dedicated sales team, application lab and warehouse, LICA Enterprises Group is able to fully service its clients in both Taiwan and China.
“We are very excited about that agreement which opens us the doors to the Greater China region. China is the 4th largest beauty care market and accounts for 1/5 of the value growth globally. Partnering with such an important distributor as LICA Enterprises Group is a key step for ABT towards unleashing the commercial potential of Aquabeautine XL™ in Asia”, says Fanny Coste, Sales & Marketing Director and Head of Product Development for ABT.
“We are very pleased that ABT put its trust in our company. Aquabeautine XL™ represents a unique and wonderful market opportunity. Our marketing, sales and technical support capabilities combined with the uniqueness and performance of Aquabeautine XL™ should translate into great commercial success”, adds John Hsu, Chairman of LICA Enterprises Group.
About LICA Enterprises Group
LICA Enterprises Group was established in Taipei, Taiwan, in 1974 and is recognized as a leading provider of advanced ingredients for the food, functional food, and cosmetics industries. The company headquarters are located in Taipei. The group is also present in China through its Shanghai Lica Biotech Co. Ltd. and Guangzhou Lica Biotech Co. Ltd. subsidiaries. All three business bases house sales offices, applications and formulation, and logistics facilities. LICA Enterprises Group also owns La Perle Cosmetics & Chemicals Corp., a cosmetics contract manufacturer for domestic and overseas customers (e.g. Walmart US) and Cosir International Cosmetics Co. Ltd., an importer and distributor of cosmetic finished products.