BRAZIL: PhotoMedex’s Radiancy subsidiary has acquired LK Technology Importaçăo E Exportaçăo, a privately-held distributor in Brazil, and plans to begin marketing and selling its No!No! products in Brazil as early as the third quarter of 2013. Total consideration of the transaction is $100,000 plus profits resulting from LK’s legacy activity during a transition period, the company said.
LK has been selling Radiancy’s professional line of products in Brazil. The local manager of LK will remain in his position, according to Radiancy.
The market for aesthetic products in Brazil is estimated to be growing rapidly, and was the third largest market behind the US and Japan with total sales of $24 billion in 2011, a gain of 47% over 2010 across the aesthetic category, according to research performed for PhotoMedex by Fess’Kobbi, a Brazilian advertising agency.