PhotoMedex, Inc. (NASDAQ and TASE: PHMD) signed an exclusive distribution agreement by its Radiancy Inc. subsidiary with Synergy Trading Corporation for certain no!no!™ products in Japan. Synergy Trading Corporation, based in Osaka, has been a leading Japanese importer of consumer products, managing multinational brands from the U.S. and Europe.
This agreement includes Radiancy’s no!no! 8800 and no!no! PRO. In addition, Synergy will launch two new no!no! models during 2016 and has a right of first refusal to market additional Radiancy consumer products. The agreement runs through December 31, 2016 and is renewable thereafter. Synergy placed an initial stocking order of $1.2 million for immediate shipment.
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Synergy is best known for bringing SodaStream to Japanese consumers. Among the many other well-known international consumer brands Synergy markets in Japan are Mercedes-Benz bicycles, Rollie, Eggmaster, Flex Seal and Flex Shot. The company has 50 employees and annual revenues of approximately $60 million.
“Synergy Trading Corporation, with its proven marketing capabilities and a strong track record with global brands, is an ideal choice for no!no! in Japan, ” commented Dr. Dolev Rafaeli, Chief Executive Officer of PhotoMedex. “Synergy’s President and CEO, Mr. Toshihiro Haranaka, has built a powerhouse marketer in only 15 years. Their reach includes more than 6, 000 retail sites including all the leading department stores, specialty electronics stores and general merchandisers throughout Japan. In addition, Synergy’s print, television, radio and web-based advertising and its established call center will support the return of no!no! to a country that historically accounted for a significant portion of our consumer sales.”
