Botanical therapeutics company Herborium Group Inc (OTCMKTS:HBRM) was in the news yesterday following a key announcement but it did not do much for the stock, which traded within a range.
The company announced on Monday that it is expecting to start selling its Skin Protein Bar and its proprietary skin stem sell products under the brand Botanical Therapeutic® AcnEase on Amazon’s French platform at some point in the fall of this year. The announcement is a significant one for the company considering the fact that it could open up another major market for Herborium Group.
In this context, it should be remember that as far as France is concerned, Amazon France is the biggest e-commerce player and it gives Herborium a massive platform for its products. In 2020 alone, Amazon France managed to generate revenues of as much as $6.5 billion.
However, more importantly, the sales of skincare products went through the roof last year and soared year on year by 123% last year. On the other hand, body care products generated growth of as much as 225% last year. Hence, the launch of these two products on Amazon France could eventually come as a major boost for Herborium and it remains to be seen if investors move to the stock or not.