OptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol, diabetes and skincare, announces that it has reached agreement to launch its own brands of SlimBiome®, GoFigure®, and Snacksmart® products online with Boots in Q1 2024 with a potential store launch in May 2024, subject to Boots instore category rebuild.
Boots is one of the largest retailers in the UK and Ireland with 58,000 employees in 2,200 shops across the United Kingdom and Ireland and reported revenues of £6.5bn in 2022. Stores range from local pharmacies to large health and beauty shops are primarily located on the high streets, in airports, and in shopping centres. Boots, developed its multichannel and ecommerce business (Boots.com) during the course of the pandemic with its online store generating sales of £576m in 2022. Its online business experienced its biggest Black Friday ever in November 2022, taking three orders every second for 14 consecutive hours Boots’ online business helps kick off the year strongly (chargedretail.co.uk) and now accounts for 18% of total retail sales.
Stephen O’Hara, CEO of OptiBiotix, commented: “We are pleased to report the planned launch of our SlimBiome®, GoFigure®, and Snacksmart® products online with Boots in Q1 2024. This is a first step in building our brand presence with major retailers to support brand awareness and sales growth. OptiBiotix is now building a multichannel presence with major online (Amazon) and in store retailers both nationally (Holland and Barrett, Boots) and internationally (Apollo Pharmacies: India; Nahdi Pharmacies: Saudi Arabia) which will increase brand credibility and awareness.”
This announcement contains information which, prior to its disclosure, was considered inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.
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