Porcelana is an established skin lightening product created 46 years ago. Ultimark is controlled by Lance Funston, who is also the chairman of the board and CEO of CCA Industries, Inc. The brand was acquired in 2011 by Ultimark. In 2016, annual gross sales exceeded $1.9 million for this mass market skin care collection.
The licensing agreement, which will begin on April 1, 2017, calls for a 10% royalty on gross sales and includes a one-year option to purchase the brand for $3.2 million, subject to a fairness opinion.