Business
Cosmos Health Expands Collaboration with Papaellinas in Cyprus; Sky Premium Life Sales Expected to More Than Double to 150,000 Units Over Next 12 Months
CHICAGO, IL / ACCESSWIRE / July 2, 2024 / Cosmos Health Inc. ("Cosmos Health" or the "Company'') (NASDAQ:COSM), a diversified, vertically integrated global
About this update from Cosmos Health Inc.
[{"type":"text","content":"CHICAGO, IL / ACCESSWIRE / July 2, 2024 / Cosmos Health Inc. (\"Cosmos Health\" or the \"Company'') (NASDAQ:COSM), a diversified, vertically integrated global healthcare group engaged in innovative R&D, owner of proprietary pharmaceutical and nutraceutical brands, manufacturer and distributor of healthcare products, and operator of a telehealth platform, announced today that it has enhanced and expanded its strategic collaboration with C.A. Papaellinas Group (\"Papaellinas\") and provided an update on the number of units sold since inception in Cyprus, as well as a projection of incremental units to be sold by the end of 2024.As communicated on September 20, 2023, Cosmos Health entered into a strategic collaboration with Papaellinas to represent and distribute Sky Premium Life products in Holland & Barrett stores and pharmacies throughout Cyprus. To date, 68,000 units have been sold, and given the positive market reception, there is an increased effort to expand reach.Consequently, the Company has enhanced and expanded its collaboration with Papaellinas and anticipates a rise in the rate of units sold, with sales expected to more than double to exceed 150,000 units within the following twelve months due to, among other factors, increased penetration in pharmacies across Cyprus. Moreover, the Company is exploring additional opportunities to expand its collaboration with Papaellinas beyond Sky Premium Life products.Founded in 1929, Papaellinas is a leading importer and distributor of beauty, pharmaceutical, and consumer products in Cyprus. They represent a diverse array of brands, including Panadol, Sensodyne, and Kleenex, as well as Adidas, Chanel, and Hermes. The company also operates several retail chains in Cyprus, such as Beauty Line, Holland & Barrett, Yves Rocher, and Butterfly Beauty Store. The Group boasts an annual turnover of over €200 million and employs more than 600 individuals.Greg Siokas, CEO of Cosmos Health, stated: \"We are extremely pleased with the sales performance of our Sky Premium Life products in Cyprus. Our collaboration with Papaellinas has been outstanding, and we couldn't ask for a better partner. We look forward to generating additional momentum and gaining market share.\"About Cosmos Health Inc.Cosmos Health Inc. (Nasdaq:COSM), incorporated in 2009 in Nevada, is a diversified, vertically integrated ...