Wellfully has signed a supply and partnership deal with Russian luxury consumer brand BORK, blostering the wellness company’s sales potential in the massive Russia market and broader region.
The collaboration with BORK, a major manufacturer of home appliances in Russia, Commonwealth of Independent States (CIS) and Poland, is expected to start this year and stretch until September 1, 2022. It is expected to generate $2 million in sales for Wellfully, the company said today, with the move boosting its reach beyond its markets of the UK, Europe, US and Southeast Asia.
In early trade, Wellfully’s ASX-listed shares were up 20.7 per cent at 6.4c.
Hailing it as an important milestone, Wellfully’s chief executive officer Paul Peros said: “Launching with one of the most reputable partners in the Russian and CIS markets is a major step forward for Wellfully’s expansion and commitment to bringing sustainable, yet smart, science-based products to the market.”
“BORK’s unique customer focus and progressive approach to retail will be vital
in connecting our technology with high-end consumers in the market.”
Under the agreement, Wellfully will supply BORK with RÉDUIT One and Spa applicator devices and a selection of skinpods and hairpods under the BORK brand.
Wellfully will tap BORK’s large retail network of 130 owned stores, 10 prominent third-party retailers such as Articoli and Gold Apple, and the company’s more than 350,000 direct consumers.
Founded in 2004 in Perth, Western Australia, Wellfully develops personal care, healthcare and anti-ageing, personalised medicine, nutrition and weight-loss products, including RÉDUIT and SWISSWELL.
It focuses on the development and commercialisation of transdermal, transmembrane, drug delivery and product performance enhancement technologies and has developed a number of physical enhancement technologies.
Apart from its own brands, Wellfully provides intellectual property and expertise in magnetic array design, feasibility and efficacy, claims testing, engineering and production.