NuGene International Inc (OTCBB:NUGN) released corporate update highlighting achievements made in last year. The company stated that during 2014, it focused its measures on becoming a cosmeceutical skincare firm for mass distribution. Along with the business transition and extended focus on consumer products, the company sought to design the marketing strategies and distribution channels.
The measures taken in 2014 led the company to have wholesalers distributing NuGene product line to medical spas and medical offices throughout the U.S. Moreover, the company generated revenues from its associate, Advanced Surgical Partners, owned by NuGene’s Chairman and CEO, Saeed Kharazmi and Messrs. Ali, respectively.
The highlights
In 1Q2015, NuGene International Inc (OTCBB:NUGN) inaugurated its new corporate offices comprising almost 11,000 sq. feet of office, production and assembly space. The company made huge investment in lab equipment and leasehold assets in order to support strong growth. The sales, marketing, and accounting staff was increased in order to better support strategic plans.
As of March 31, 2015 NuGene reported nearly 50 locations selling company’s products. The company is currently researching the numerous advantages of bringing sales force “in-house” that will help customers to get assistance of trained sales representatives. The move will also provide increased control over the sales team.
The initiatives
NuGene continued to broaden its specialized NuGene product Line with the addition of a facial scrub, facial mask, and hydrating shampoo. All of the new products will be launched in the second and third quarter this year. NuGene target clients primarily comprise middle aged women and men concerned with their hair loss and aging skin. The NuGene Line is basically sold at dermatologist offices and medical spas throughout the United States. They can also be bought from company’s main office based in Irvine.
In last trading session, the stock price of NuGene surged more than 3% to close the trading session at $3.02 on share volume of 39.58 million.
