This result, which is on par with the last TSV event in June which brought a wholesale revenue of $1.14 million, is higher than the revenue from the event held at the same time last year which brought $1.1 million.
This is the first event that will be not be accruing shipping costs to the company and therefore Cellmid's net profit will not be higher.
The result is consistent with Cellmid’s key objective of reaching operational profitability for its consumer business in FY2020.
Channels to drive revenue growth
Chief executive officer Maria Halasz said: “Consistent with our growth strategy released in February this year we continue to improve our net margin on this already lucrative channel, as we work towards operational profitability of our consumer business in FY2020.
“We have added significantly to our sales channels in recent months with Priceline, openshop, Douglas and premium retail in the USA all of which will drive revenue growth in coming months.”
TV shopping “best performing medium”
The company’s Jo-Ju® branded FGF5 inhibitor hair loss products remain one of the best-selling products ever on QVC Japan and it is expected that another event will be planned for the middle of 2020.
Television shopping generally, with integrated e-commerce, remains the best performing medium for the company’s products, confirmed most recently in Australia with openshop.
The company has been negotiating other television shopping opportunities and it is expected that QVC USA, QVC Germany and QVC UK will start selling the evolis® Professional branded products in 2020.