Pompano Beach, Fla., Aug. 6, 2014 (GLOBE NEWSWIRE) -- DS Healthcare Group, Inc. (NASDAQ: DSKX), a leading developer of personal care products and specialty pharmaceuticals, announced today it has signed a distribution agreement with Drogaria Venancio, a leading Rio de Janerio-based pharmacy chain. Drogaria Venancio will sell DS Healthcare's clinically proven personal care products including its Revita and Spectral hair re-growth and hair care products. DS Laboratories, its flagship line can already be found on retail shelves throughout Rio de Janeiro. Drogaria Venancio operates wholesale distribution centers and premium retail pharmacy locations. Founded in 1979, the pharmacy chain employs 1600 people.
This marks DS Healthcare's third distribution agreement in Brazil and it's second in Rio de Janeiro. DS Healthcare's have already been selling through CSB Drogaria which has two retail pharmacy chains with 85 stores in Rio de Janeiro, as well as in Sao Paulo through the Drogaria Iguatemi pharmacy chain. Retail sales are also growing through DS Healthcare' Brazilian ecommerce site. According to market research firm Euromonitor, the Brazilian beauty industry generated $42 billion in sales in 2012.
"We are experiencing extremely robust sales growth in Brazil while building strong brand recognition and loyalty for our products. While we are successfully achieving market penetration into two of Brazil's largest cities, we also intend to expand distribution beyond these metropolitan areas into other regions of the country. In addition, we've seen our e-commerce platform that services customers in regions where we have yet to be present, do extremely well, further endorsing our belief that Brazil will be one of our key markets worldwide" stated DS Healthcare President and CEO Daniel Khesin. "
About DS Healthcare Group
DS Healthcare Group Inc. leads in the development of biotechnology for topical therapies. It markets through online and specialty retailers, distributors, cosmetics wholesalers, and salons. Its research has led to a highly innovative portfolio of personal care products and additional innovations in pharmaceutical projects. For more information on DS Healthcare Group's flagship brand, visit www.dslaboratories.com
Except for statements of historical fact, the matters discussed in this press release are forward-looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies, and are generally preceded by words such as "future," "plan" or "planned," "expects," or "projected." These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the company's control that may cause actual results to differ materially from stated expectations. These risk factors include, among others, limited operating history, difficulty in developing and marketing products, intense competition, and additional risks factors as discussed in reports filed by the company with the Securities and Exchange Commission, which are available at http://www.sec.gov.
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Source:DS Healthcare Group,Inc.