Nicole Kidman Endorsed Wellness and Beauty Products; On-Track for Accelerated Sales Growth with Company Rebranded as Avenir Wellness Solutions, Inc : CURR
Avenir Wellness Solutions, Inc. (OTCMKTS:CURR)
— CURR CEO Nancy Duitch
OXNARD, CALIFORNIA, UNITED STATES, January 20, 2023 /EINPresswire.com/ — Nicole Kidman Endorsed Wellness and Beauty Products; On-Track for Accelerated Sales Growth with Company Rebranded as Avenir Wellness Solutions, Inc. (Stock Symbol: CURR)
Proprietary Drug, Nutraceutical & Topical Delivery Systems for Wellness and Anti-Aging Beauty Product Lines.
New Corporate Name and Website Launched for Avenir Wellness Solutions, Inc.
25,000 Sq Ft. FDA-Registered, NSF®, and cGMP-Certified Manufacturing Facility.
Investment in New Marketing Strategies Showing Encouraging Early Results.
Enhanced Media Campaigns Featuring A-List Actress Nicole Kidman.
Incubator Strategy Initiated with New Market Disruptor Products
Q3 Revenue Surged 32.1% Year-Over-Year and 58.9% Sequentially from Q2 of 2022 to $1.8 Million with Further Increases Expected in Q4.
$20 Million Cash Gain from Sale of a Portion of Platform Technology IP.
Company Currently Holds Fifteen Patents.
New Board Members and Other Appointments Strengthen Corporate Structure.
Avenir Wellness® (f/k/a Cure Pharmaceutical Holding Corp., OTCQB: CURR) is a broad wellness platform technology company that develops proprietary wellness, nutraceutical, and topical delivery systems. The technology, which is based on 15 current patents, offers a number of unique immediate- and controlled-release delivery vehicles designed to improve product efficacy, safety, and consumer experience for a wide range of active ingredients. CURR will continue down the path of creating new technologies that will be part of its incubator strategy in order to monetize its IP.
As a vertically integrated company, CURR operates a 25,000 square foot, FDA-registered, NSF® and cGMP-certified manufacturing facility enabling it to partner with pharmaceutical and wellness companies worldwide for private and white-labeled production. CURR currently has partnerships in the U.S., China, Mexico, Canada, Israel, and other markets in Europe.
Exciting New Brand Identity with Name Change to Avenir Wellness Solutions, Inc.
On January 17th CURR officially announced that it has changed its name to “Avenir Wellness Solutions, Inc.” The name change is the result of the Company’s recent sale of certain intellectual property. More importantly, however, the name change reflects the renewed focus of CURR with its incubator strategy and continuing efforts to create and commercialize wellness technologies with quality products and brands in the wellness and beauty space. CURR has also released a new corporate logo and launched a new website at: www.avenirwellness.com.
The Company’s OTCQB ticker symbol “CURR” will also be changed in the near future. Once approved, the new ticker symbol and effective date of the changes will be publicly announced.
This rebranding is part of the CURR shareholder value initiatives and ongoing commitment to delivering innovative and highly desired wellness technologies to the marketplace. The Company’s long-term growth strategy is to increase revenue with high margins, use its incubator strategy to grow the patent and product portfolio as well as monetize the intellectual property (“IP”) patent technology through strategic partnerships. These initiatives, along with the CURR relationships with Nicole Kidman and other major social media influencers, is expected to help propel its health and beauty products to become a household name, consistent with its strategy to become a genuine house of recognizable and respected quality brands.
Value Proposition of Avenir Wellness Solutions:
1. Technology – Provide innovative wellness solutions to improve ordinary dietary supplement and beauty product delivery systems that currently exist in the market.
2. Strong Patent Portfolio – Monetize the 15 current and pending patents through licensing and royalty arrangements while developing new proprietary patents.
3. Established Network – Utilize its network of industry-leading sales, marketing, and product development experts to transform the Company into a trusted and reliable brand that stands for quality and commitment to its customers.
4. Growth Plans – Execute multiple strategies that will be used to expand patent portfolio and product offerings, improve cash flow, and ensure profitability, including strategic transactions, potential future mergers, and acquisitions, as well as joint venture partnerships.
5. Management Expertise – Fully exploit the many decades of management experience in the health, wellness, and beauty sectors and innovative product development with unique intellectual property.
“Providing cutting-edge products, proprietary delivery systems, and impactful marketing strategies to an enormous health and wellness industry that is desperate for new innovations and solutions is the key for us to becoming a House of Quality Brands. Rebranding the Company and delivering on our value proposition is very exciting, and it will ultimately increase shareholder value,” stated CURR CEO Nancy Duitch.
Ms. Duitch continued, “The beauty and wellness markets are growing at rapid rates. The global wellness sector, despite the pandemic, saw exponential growth in 2021 with a market size of $1.5 trillion, according to McKinsey. There is a strong overall and growing demand for supplements and nutraceuticals, a $587.3 billion market, according to the 2021 Grandview report. The beauty and personal care industry is a $534 billion market now and is set to grow 5.87% year over year according to Terakeet’s 2021 Beauty Industry Report. This significant market growth combined with our innovative proprietary delivery technology we are continuing to expand led us to enhance our future focus and commitment of our Company to these high margin/high growth areas. We are not in the business of selling just vitamins or topicals. Rather, we are putting technology with real intellectual property behind our wellness products to create a better way of delivering active ingredients to the consumer, with the goal of being more effective. We believe our proprietary technology differentiates us from our competition, producing quality high-margin products with improved safety, efficacy, and consumer experience.”
CURR Letter to Shareholders
On December 15th CURR CEO Nancy Duitch provided an update to shareholders on positive recent developments in the evolution and progress of the Company. The updated letter included the following commentary:
CURR recently completed its new Seralabshealth.com website which is very user-friendly and is showing huge improvement in conversions which leads to increased sales.
CURR also recently hired Rick Petry who is one of the most renowned writers and direct marketers. In addition, CURR brought in Tracy Jankowski as Vice President of Digital Marketing who is an expert in women’s products and who has turned around our digital marketing and branding strategies in just seven short weeks upgrading our internal team without adding additional G&A expense.
Other important company developments already include strong sales results and revenue growth. Plus, CURR completed the sale of a portion of its platform technology intellectual property portfolio and related assets in July 2022 for $20 million of non-dilutive capital in total consideration. A portion of the cash proceeds was used to pay down certain debt obligations and the balance is being used for working capital and to grow the CURR intellectual property portfolio and its wellness and beauty brands. CURR retained 15 of its patents and will continue to be an incubator for future technologies and patents, which it intends to monetize through the commercialization of the technologies through product development or through the licensing/sale of the technologies.
The CURR wholly owned subsidiary, The Sera Labs, also announced that six SKUs of its Seratopical Revolution skincare line with P3P, our proprietary delivery system, are now being sold at over 1,372 Walmart Stores as well as on Amazon.com.
Sera Labs also has garnered placement for its revolutionary oral thin film strip, Nutri-Strips™ on shelves at CVS, Amazon.com, and Target.com. Nutri-Strips are proprietary to Sera Labs and are the result of years of research.
Recent key operational highlights included the following:
Revenue in the third quarter surged 32.1% year-over-year and 58.9% sequentially from Q2 2022 to $1.8 million with further increases expected in Q4.
Gross margins for the third quarter improved by 123 basis points to 80.0% in 2022 compared to the same period in 2021 with expectations of continuing high-margin sales with our new marketing initiatives.
SG&A expenses (excluding non-cash charges) for the third quarter decreased by $0.1 million in 2022 compared to 2021.
Cost reductions and operating leverage helped narrow operating loss (excluding non-cash charges) by $0.6 million in 2022 versus 2021 despite enhanced marketing investment.
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Nancy Duitch, CEO
Avenir Wellness Solutions, Inc.
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