Nugene International Inc (OTCBB:NUGN) reported record product orders in December 2014, estimated at $320,000, largely driven by its successful beta product launch in early 2014. The company currently markets its proprietary regenerative pharmaceutical and cosmeceutical products through a network of clinics, skin and hair care professionals and medical spas. The company is also mulling options to build new distribution networks both in the home and overseas markets.
Ali Kharazmi, CEO of NuGene, noted that the management considers these record monthly orders as strong market validation for the NuGene product lines. The results have been extremely positive, which is again driving further interest from prospective distributors. The management is also expecting double digit growth for the company’s distribution base in 2015.
Nugene International Inc (OTCBB:NUGN) is a 2014 startup that has expanded into 75 professional locations by the end of 2014. The company added 50 distribution locations only through November and December. The company essentially operates in the regenerative medical market, which was estimated at $7.2 billion in the U.S. in 2014.
Significant expansion of Nugene’s distribution base toward the end of 2014, helped the company report Q4 sales volume at par with the product sales reported for the prior three quarters combined. The higher sales were largely driven by the company’s better performing cosmeceutical product range.
The company experienced 200% QoQ increase in its total distribution base during the Q4. Mr. Kharazmi expressed that the company continue its emphasize on marketing initiatives to increase awareness about its products while expanding the market presence.
The Nugene International Inc (OTCBB:NUGN) CEO also mentioned that the company is receiving positive feedback from the consumers. The company is focusing on driving growth by working closely with its distributors and providing dedicated customer service. The company is rapidly transitioning into a business focusing on broad-based distribution.