KUALA LUMPUR (Jan 28): Esthetics International Group Bhd's wholly-owned subsidiary has been appointed the exclusive distributor of US cosmetics brand Youngblood in Hong Kong, Taiwan, Macau and Asean countries.

Its wholly-owned unit EIG Dermal Wellness (M) Sdn Bhd has signed a distribution agreement with Youngblood Skin Care Products, LLC, said Esthetics (fundamental: 2.5; valuation: 2.4) in a statement to the stock exchange.

Under the agreement, EIG Dermal holds the exclusive rights to sell and distribute Youngblood cosmetics in Malaysia, Singapore, Hong Kong, Taiwan, Macau, Thailand, Indonesia, Brunei, Vietnam, Cambodia, Philippines, Myanmar and Laos.

The agreement is for 10 years and will commence on Feb 1 this year to end on Jan 31, 2025. EIG Dermal will have the option to renew the agreement for another 10 years.

Esthetics said the exclusive distributorship is in line with Esthetic's strategy to secure more leading international brands for the distribution and retail of beauty, health and wellness products in Asean and Hong Kong.

Esthetics expects the agreement to contribute positively to EIG's future profits, earnings per share and net assets.

Shares of Esthetics closed flat at RM1.05 today, giving the firm a market capitalisation of RM194.78 million.
(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)