Warpaint London PLC UK Retail Update (5043F)
17 Noviembre 2020 - 1:00AM
UK Regulatory
TIDMW7L
RNS Number : 5043F
Warpaint London PLC
17 November 2020
17 November 2020
Warpaint London PLC
("Warpaint", the "Company" or the "Group")
UK Retail Update
Change of Board Role
Warpaint London plc (AIM: W7L), the specialist supplier of
colour cosmetics and owner of the W7 and Technic brands is pleased
to announce an update on the sales of the Group's products in Tesco
and Wilko stores, together with details of a change of board
role.
UK Retail Update
Tesco
The Company is pleased to announce that following a successful
trial of an impulse range of products in 41 Tesco Express outlets,
a range of 15 W7 cosmetics products will now be stocked in 209
Tesco Express stores from 18 November 2020.
Furthermore, in addition to the core range of 190 of the Group's
W7 products being sold in 56 Tesco Extra stores, four new lines
will be introduced by Tesco in early 2021 into 605 Tesco Extra
stores and Tesco supermarkets, while a further four new lines will
be stocked in 96 of these stores.
Wilko
As previously announced, since the launch in September 2020,
approximately 100 exclusive Body Collection branded products,
designed in partnership with wilko, have been stocked in 355 wilko
stores and over 115 different Technic branded products stocked in
189 wilko stores. These stores remain open during the current
England-wide Covid-19 lockdown and the products are also sold by
wilko.com. In addition, a range of Technic and Body Collection gift
sets are now also being stocked by wilko.
The Company is pleased to report that sales through wilko are
currently running ahead of the Warpaint board's expectations at the
time of the launch.
This expanded distribution of Warpaint's products underpins the
board's expectations for the full year.
Change of Board Role
As announced on 6 February 2020, the Company appointed Ward
& Hagon Management Consulting LLP ("Ward & Hagon") to
assist the Company in implementing its strategic growth plan. Paul
Hagon, a non-executive director of Warpaint, is a partner of Ward
& Hagon. Following a successful initial period, the Company is
pleased to announce that the contract with Ward & Hagon will be
renewed for a further 12 months.
As a result of this Paul Hagon is no longer an independent
non-executive director of the Company, but remains on the board as
a part-time executive director. Consequently, the Company has
commenced a search for an additional non-executive director and
hopes to make this appointment during the first half of 2021. A
further announcement will be made in due course when a new
non-executive director is appointed.
Enquiries:
Warpaint London c/o IFC
Sam Bazini - Chief Executive Officer
Eoin Macleod - Managing Director
Neil Rodol - Chief Financial Officer
N+1 Singer (Nominated Adviser & Joint
Broker)
Shaun Dobson, Alex Bond - Corporate Finance
Tom Salvesen - Corporate Broking 020 7496 3000
Shore Capital (Joint Broker)
Patrick Castle, Daniel Bush - Corporate
Advisory
Fiona Conroy - Corporate Broking 020 7408 4090
IFC Advisory (Financial PR & IR)
Tim Metcalfe
Graham Herring
Florence Chandler 020 3934 6630
Warpaint London plc
Warpaint is made up of two divisions.
The largest division sells branded cosmetics under the lead
brand names of W7 and Technic. W7 is sold in the UK primarily to
retailers and internationally to local distributors or retail
chains. The Technic brand is sold in the UK and continental Europe
with a significant focus on the gifting market, principally for
high street retailers and supermarkets. In addition, this division
supplies own brand white label cosmetics produced for several major
high street retailers. The Group also sells cosmetics using our
other own brand names of Man'stuff, Body Collection, Vintage, Very
Vegan, and Chit Chat.
The other division trades in close-out and excess inventory of
branded cosmetics and fragrances from around the world.
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END
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