BEVERLY HILLS, Calif.,
Dec. 3, 2013 /PRNewswire/ -- DAVI
Luxury Brand Group, Inc. ("DAVI" or the "Company") (OTC BB:
MDAV) a prestige beauty products company, announced the recent
launch of its new DAVI skincare product line in South Korea under the 10-year exclusive
licensing agreement that the Company entered into with LG Household
and Health Care, Ltd. (KRX: 051900) ("LGHH") in 2012. The new
product line was developed, and is being marketed
and distributed as luxury skincare products under the Company's
DAVI®, DAVI NAPA® and DAVI SKIN® brand names.
DAVI, in collaboration with LGHH's research and development
team, created the skincare line utilizing LGHH's advanced
technology along with DAVI's exclusive Meritage™ Blend and the
patented Phytosphere technology - "Phyto-Meritage™" that DAVI uses
for its products. The license agreement with LGHH grants LGHH
the right to commercialize DAVI® branded women's and men's skincare
and cosmetics in the Asia,
including the development of retail outlets and other commercial
ventures in the Asian-Pacific region. This region currently
represents nearly 60 percent of the global market for premium
skincare products.
LGHH commenced sales of DAVI products in the third quarter of
2013 with the opening of four new DAVI® retail stores in
Seoul, South Korea that are
dedicated to the sale of DAVI® branded skincare and
cosmetic products. These DAVI® retail stores are
currently operating in two of Seoul's most prestigious Luxury Department
store chains, the Lotte and Galleria department stores.
Additional new DAVI stores in high-level luxury department
stores are scheduled to open in South
Korea in 2014.
LGHH plans to launch additional DAVI® branded stores through
high-level department stores in other Asian-Pacific territories
such as Japan, China, Hong
Kong and Singapore in 2014.
The DAVI® stores currently feature over 30 SKUs of skincare
products, including the Company's flagship Le Grand Cru Collection, moisturizers,
cleansers, toners, essences, serums and specialty
products.
The Company also plans to launch DAVI in the North
American retail market in 2014 through the sale of DAVI®
products in U.S. luxury department stores as well as through the
Company's own flagship free standing retail store that is currently
being completed in Beverly Hills,
California.
"We are thrilled to have a strategic partner such as LGHH, given
its stature as a leader in cosmetic products in Korea and the rest
of Asia," stated Parrish Medley,
President and Chief Executive Officer of DAVI Luxury Brand Group,
Inc. "LGHH has helped us cultivate our brand within the
Asia Pacific region and has been
instrumental in launching the DAVI® brand in Seoul, South Korea, one of the most educated,
sophisticated and growing luxury markets in the world. As one
of the largest beauty and cosmetics companies in Asia and worldwide, LGHH has successfully
expanded its portfolio of brands through its unparalleled
commitment to quality and excellence in nurturing and developing
brands while introducing innovative products that appeal to a
sophisticated consumer base."
Mr. Medley continued, "The LGHH partnership with DAVI in
Asia perfectly complements the
success we currently enjoy in our existing partnership with the
leading luxury global airlines, KOREAN AIR, where DAVI exclusively
provides KOREAN AIR's first class and business class passengers
with DAVI® branded products in attractive DAVI® travel amenity
kits. We believe that this partnership with LGHH will help
ignite significant growth in Asia.
LGHH plays a pivotal role in our company's long-term business
objective as DAVI® branded products become widely accepted in this
region and abroad."
Skincare is particularly important in the Asian markets which
have deeply-entrenched skincare treatment rituals. The global
cosmetic industry exceeded $200
Billion in 2012 up 2.8% year-on-year as reported by WWD
BEAUTY INC.
About DAVI Luxury Brand Group
DAVI Luxury Brand Group, Inc. a California based prestige beauty products
company that develops, licenses and markets its luxury skincare
products using the antioxidants found in grape growing and
winemaking process. The Company markets skincare products under the
"DAVI®", "DAVI NAPA®" and "DAVI SKIN®" registered brand names. The
products are currently manufactured and distributed in the U.S. as
well as through its licensed partners in the Asian Pacific region.
For more information, please visit www.daviskin.com.
About LG Household & Health Care
LG Household & Healthcare Ltd. is a Korean-based company
engaged in the manufacture of household goods, cosmetics and
beverages. Founded in 1947, LG was Korea's first cosmetic company.
LGHH, part of the LG group of companies, has evolved into the
leader in the cosmetic, beauty and health care in South Korea. Its household goods include oral
care products, skin care products, hair care products, laundry
products, home care products and paper products under the brand
names of Perioe, SAY, Elastine, TECH, Saffron and others. Its
cosmetics include skin, lotion, essence, lipsticks, eye creams and
others under such brand names as OHUI, Whoo, Belif, SU:M37,
ISA KNOX and SOORYEHAN. Its beverage
products include juice, tea, coffee and bottle water products. On
January 25, 2013, it acquired a 100%
stake in Everlife Co.,Ltd., a Japan-based company, which mainly engaged in
inner beauty business.
Investor Contacts:
Todd Fromer / Phil Carlson
KCSA Strategic Communications
P: 212-896-1215 / 212-896-1233
Email: tfromer@kcsa.com / pcarlson@kcsa.com
SOURCE DAVI Luxury Brand Group, Inc.