Aqua Bio Technology ASA (ABT) has entered into an agreement with DNO Group, a company specialized in the marketing and distribution of cosmetics and other consumer goods in Asian markets. Starting in the third quarter 2019, DNO Group will distribute the Moana Skincare series in India and Hong Kong. "The partnership with DNO Group is an important milestone in our efforts to develop ABT into an international supplier of natural skincare products," said ABT's head of global sales, Arvid Lindberg. ABT obtained its first commercial rights for the Moana series in 2017. Moana is manufactured in New Zealand, and its main active ingredients are derived from seaweed found in the South Pacific. Initially, ABT obtained the commercial rights for Europe, the Middle East and Africa (EMEA), and is currently marketing the Moana products through partners in Germany, Austria, Switzerland and Kuwait. "We are pleased to announce that our commercial rights for Moana Skincare have been expanded to include territories outside the EMEA-region. The expansion includes India and Indonesia, and we have also secured certain rights for Hong Kong," said Arvid Lindberg. DNO Group markets and distributes third party beauty products in seven Asian markets, all enjoying rapid growth. India is one of the world's largest markets for beauty and personal care, with an estimated sale of USD 8 bn this year. The Indian market is expected to reach USD 10 bn by 2021. Despite being significantly smaller, Hong Kong is also a highly attractive market for beauty products. In addition to the city's seven million inhabitants, Hong Kong is visited by nearly 50 million tourists from mainland China every year. Access to consumer goods is a major driver behind the growing Chinese middle class' travels to Hong Kong. "The Moana products are well suited for consumers in India and Hong Kong, as well as for our portfolio and distribution capabilities. Furthermore, the efficacy of the products themselves is impressive. We expect a highly positive sales development for Moana in Asia going forward," said DNO Group's Managing Director, Ofri Shaysh. For further information, please call Arvid Lindberg, head of global sales, telephone +47 9824 5410. Aqua Bio Technology (ABT) is developing and commercializing sustainable biotechnology for use in skin care products. ABT's cosmetics ingredients are highly effective and they provide the cosmetics industry with natural alternatives to traditional ingredients. ABT is also marketing and distributing natural skin care products developed by partners towards consumers and professional users. Aqua Bio Technology is listed on the Axess market of the Oslo Stock Exchange. This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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