NAPLES, Fla.--(BUSINESS WIRE)--Naples Soap Company, Inc. (OTCQB: NASO), (“the Company”), a pioneering health and wellness brand that offers premium-quality skin and hair care products throughout the United States, today announced the upcoming launch of Grow Beautii, a new line of skin care products formulated and designed specifically for users with sensitive skin. The Grow Beautii line is set to serve an unmet segment of the rapidly growing $41 billion global sensitive skin care products market.
Slated for launch in the fourth quarter of 2024, Grow Beautii will include mild cleaners and soothing moisturizers specially formulated for users of all ages with skin conditions. Product formulas will focus heavily on premium all natural ingredients proven to soothe the skin including goat’s milk, coconut oil, sea salt, witch hazel, and aloe vera.
Naples Soap Company’s wholesale business, which has historically served the boutique and hospitality market, is set for a major strategic shift to create and distribute new product lines into major national retail chains including specialty beauty stores, department stores, big box stores, and pharmacies. Grow Beautii is expected to anchor this wholesale growth initiative and will also be available at Naples Soap Company’s physical stores, at www.naplessoap.com, and other direct to consumer digital marketing channels.
While there is a wide selection of products for sensitive skin in the over-the-counter pharmacy segment that are medicinally oriented and packaged, and there are numerous high-end skin care lines for sensitive skin, the Grow Beautii line will cater to the under-served and broadest segment of the consumer market that seeks high quality, affordable, gentle, appealing beauty and self-care products specifically for sensitive skin.
“Creating self care and beauty products for sensitive skin is in our DNA at Naples Soap Company. Having personally struggled with and suffered from eczema and psoriasis, I tried countless dermatological prescriptions and over-the-counter skin care products to relieve my symptoms. This personal journey is what inspired me to create and grow my own skin care line,” said Deanna Wallin, Founder & CEO of Naples Soap Company.
“We are very excited to launch Grow Beautii through our broadening wholesale distribution channels, and we believe this will have a significant impact on our Company’s national reach and growth momentum,” Wallin concluded.
Growth in the sensitive skin care market is driven by a sharp rise in people with skin sensitives combined with consumer awareness around the importance of using gentle hypoallergenic products. A recent study reported by Dermatology Times revealed that 71% of adults identify as having sensitive skin, marking a 55% increase over the past two decades. Participants in the study cited stress and product ingredients as the main causes of the majority of their skin reactions. According to the Cleveland Clinic, over 31 million Americans suffer from eczema, and the American Academy of Dermatology Association estimates 16 million Americans between the ages of 30 and 60 suffer from rosacea.
About Naples Soap Company, Inc.
Founded in 2009 by Deanna Wallin, Naples Soap Company is a supplier of more than 400 bath, body and personal care products. Products are sold at the Company’s 13 retail locations in Florida. Naples Soap Company products are sold online from the Company’s website at www.naplessoap.com, through other DTC (direct-to-consumer) channels such as Amazon.com and in more than 300 boutiques, spas and stores throughout the United States via the Company’s wholesale division. For more information about Naples Soap Company, visit ir.naplessoap.com.
Forward-Looking Statements
This release includes certain statements that are "forward-looking statements.” All statements in this release, other than statements of historical fact, that address events or developments that are expected to occur, are forward-looking statements. Forward-looking statements are generally, but not always, identified by the words like “anticipate,” “believe,” “expect,” “intend,” “plan,” “will” and variations of the same. Although we believe the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include our need to obtain additional capital or financing to support our business plans, which may not be available on acceptable terms or at all, market prices, competition, risks inherent in the development and launch of potential products and in new market segments, risks relating to the establishment and maintenance of relationships with athletes, celebrities and influencers, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of Naples Soap Company’s management on the date the statements are made. Except as required by applicable securities laws, Naples Soap Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
