Aqua Bio Technology ASA (Oslo Axess: ABT) today announced a partnership with Amway, one of the world’s largest direct sellers, for the use of ABT’s lead marine-derived ingredient Aquabeautine XL® in ARTISTRY® skincare products. ABT expects the agreement to provide revenues of at least NOK 8 million over the next 30 months, with a significant upside potential.
“The agreement with Amway is our most important commercial milestone to date. It confirms the potential of Aquabeautine XL® as a key component in the next generation of skincare products. Furthermore, our relationship with Amway will serve as an important reference as we roll out our new marketing strategy,” said ABT’s CEO Arvid Lindberg.
Michigan, US-based Amway is a worldwide leader in direct selling, with more than three million Independent Business Owners (IBOs) in more than 80 countries and territories around the world. Its ARTISTRY® is among the world’s top five, largest-selling, premium skincare brands.