- Distribution agreement with Grupo Éxito includes initial Kuida presence in 5 key market Éxito WOW concept stores and 16 Éxito traditional format stores with a potential expansion planned across Colombia.
- Grupo Éxito has a multinational retail presence in Colombia, Brazil, Argentina and Uruguay and operates 1,533 stores.
- Kuida to be introduced as key addition to the retailer's cosmetics products category, with experience centres and consultants in each Éxito WOW store to support sales and brand awareness.
- Accelerates Company's multi-channel brand distribution strategy targeting U.S. $7.9 billion Latin American skincare market. (source: Euromonitor)
- Grupo Éxito is a Colombian retail leader with a market share of 40%. (Source: Nielsen, February 2019)
TORONTO, Aug. 7, 2019 /PRNewswire/ - Khiron Life Sciences Corp. ("Khiron" or the "Company") (TSXV: KHRN), (OTCQB: KHRNF), (Frankfurt: A2JMZC), an integrated cannabis company with core operations in Latin America, announced today that it has signed a distribution agreement for its Kuida cosmeceutical brand with Grupo Éxito, Colombia´s market leading retail group and one of the largest retailers in South America. In combination with previously announced distribution arrangements, this increases the Kuida consumer reach as the brand experiences a growing retail presence in Colombia.
Grupo Éxito is a Colombian retailer with a successful 110-year presence in the Latin American market and is the only retail company in the region included in the Dow Jones Sustainability index, under the "Emerging Markets" category. Controlled by Casino Guichard-Perrachon and with revenues of U.S.$17 billion in 2018, Grupo Éxito operates 1,533 stores across Colombia, Uruguay, Brazil and Argentina, including 252 Éxito stores and 9 Éxito WOW stores. Under the Company's agreement with Grupo Éxito, Kuida will initially be sold in 5 Éxito WOW stores and 16 traditional format stores.
Introduced by Grupo Éxito in 2018, Éxito WOW represents a new store format aimed at delivering innovative, digitally-integrated customer experiences throughout the Cali, Bogotá, Medellín, and Barranquilla regions of Colombia among others. On introduction to Éxito WOW stores, Kuida will form a cornerstone product line for the retailer's cannabis products category. To support Kuida sales and brand awareness, each Éxito WOW location will host dedicated experience centres, with skin expert consultants on-hand to educate consumers on the brand's proprietary CBDERM technology, as well as its current portfolio of seven skin and personal care products.
Alvaro Torres, CEO and a Director of Khiron, comments: "Through our partnership with Grupo Éxito, Khiron continues to build on its strategy to generate Kuida revenue and market-share, delivering first to market CBD products to consumers across Latin America in an innovative and informed environment. We know that the more customers understand our product, the greater this translates into sales. This agreement with Grupo Éxito gives us an exceptional opportunity to do that and further strengthens Kuida's consumer reach in Colombia."
About Grupo Éxito
Grupo Éxito is a multi-Latin company and a leader in the retail market in South America. Present in Colombia with Grupo Éxito; in Brazil with the Pão de Açúcar Group; in Uruguay with the Disco and Devoto Groups and in Argentina with Libertad. Casino Guichard-Perrachon is the principal owner and holds 55.3% of Grupo Éxito's shares, followed by the Pension Fund of Colombia, which holds 14.9%. Further information can be found at: https://www.grupoexito.com.co
About Khiron Life Sciences Corp.
Khiron Life Sciences Corp. is positioned to be the dominant integrated cannabis company in Latin America. Khiron has core operations in Latin America and is fully licensed in Colombia for the cultivation, production, domestic distribution, and international export of both tetrahydrocannabinol (THC) and cannabidiol (CBD) medical cannabis. The company delivers best in class regulatory compliance, has the first approved set of CBD cosmetic products on shelf in Colombia, and is currently facilitating testing to meet and surpass all license requirements for commercial cannabis derived products.
With a focused regional strategy and patient oriented approach, the Company combines global scientific expertise, agricultural advantages, branded product market entrance experience and education to drive prescription and brand loyalty to address priority medical conditions such as chronic pain, epilepsy, depression and anxiety in the Latin American market of over 620 million people. The Company is led by Co-founder and Chief Executive Officer, Alvaro Torres, together with an experienced executive team, and a knowledgeable Board of Directors that includes former President of Mexico, Vicente Fox.
This press release may contain certain "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Khiron undertakes no obligation to comment analyses, expectations or statements made by third-parties in respect of Khiron, its securities, or financial or operating results (as applicable). Although Khiron believes that the expectations reflected in forward-looking statements in this press release are reasonable, such forward-looking statement has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond Khiron's control, including the risk factors discussed in Khiron's Annual Information Form which is available on Khiron's SEDAR profile at www.sedar.com. The forward-looking information contained in this press release is expressly qualified by this cautionary statement and are made as of the date hereof. Khiron disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
United States Disclaimer
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as such term is defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE Khiron Life Sciences Corp.