InnovaDerma said the crisis had "severely impacted" its finances and that it had agreed in principle to borrow £500,000 from Mark Ward, a non-executive director and the company's biggest shareholder. 3.7, 27 Old Gloucester St
IDP.UK - key executives, insider trading, ownership, revenue and average growth rates. Sales value ex VAT self-tan brand within a major pharmacist in that year to date. UK Regulatory (RNS & others) TIDMIDP . INNOVADERMA UK LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual … Before distributing or submitting a marketing communication for publication, marketers must hold documentary evidence to prove claims that consumers are likely to regard as objective and that are capable of objective substantiation. TR-1: Standard form for notification of major holdings . Because the product contained DHA, and because we had not seen any evidence that it smelt better than products containing other DHAs, we therefore concluded that the claims in ad (b) were misleading. is listed on London Stock Exchange’s Main Market under ticker IDP. 4. We considered that some of the claims in the ads went beyond describing cosmetic effects and described physiological benefits and would therefore need to be substantiated by an appropriately robust body of evidence. We considered that the claim in ad (b) that “No-one should be putting chemical DHAs on their skin anymore as there are now tanners available that use a tanning agent that works naturally with your skin” would be regarded by consumers as a comparative claim, with the implication that other products contained chemical DHAs whereas Skinny Tan’s product was a natural tanning agent. The value of investments can go down in value as well as up, so you could get back less than you invest. InnovaDerma PLC (), the company behind the Skinny Tan product, is looking to bolster its balance sheet to capitalise on opportunities once the lockdowns end.. Four issues were investigated, all of which were Upheld. RNS Number : 8805P . Marketing communications must not materially mislead or be likely to do so. access, InnovaDerma to shore up balance sheet, sacks chairman. They provided a trial based on 50 users of the product which showed that a high percentage of these users felt that the product made them look thinner and reduced the appearance of cellulite. Skinny Tan is the first tanner to combine 100% certified natural tanning with organic smoothing oils and firming guarana berries. InnovaDerma has presence in Europe, US, Australasia, Asia and Africa. However, we understood that the product did contain DHA. NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in … The ASA may regard claims as misleading in the absence of adequate substantiation. The ASA considered that in this context consumers would generally understand the claim “the UKs [sic] No.1” to mean bestselling across the whole market. And over 90% said it smelt delicious! The board has dismissed Bayer with immediate effect and Ross Andrews, a director, will become non-executive chairman, the company said. We considered that the ad implied that Skinny Tan’s product did not contain DHA since, rather than contrast “chemical DHAs” with natural DHA, or naturally occurring DHA, the product claimed to use “a natural tanning agent”. InnovaDerma PLC ('InnovaDerma' or the 'Company') Trading Statement. UK sales fell 32% to £2.9m but US sales rose 17% to £0.4m and sales in Australia increased 52% led by Skinny Tan. InnovaDerma is a UK developer and marketer of beauty, personal care and clinically proven life science products. We also considered that consumers would regard the claim “100% certified” to mean that the product as a whole had received a certification that it was “natural”. the views of the author. The board will review the value of intangible items on the balance sheet based on recent trading and this will lead to a "substantial" impairment, the company said. Skinny Tan stated that it was commonly believed that tanning could make you look thinner. 3.33 InnovaDerma’s flagship product, Skinny Tan UK, is the highest driving revenue item within its brand umbrella, and was the perfect starting point for a new automated campaign strategy. We told Skinny Tan not to: refer to their products as “No 1”; imply that they did not contain DHA; or imply that its smell was better or that this was a result of other products containing DHA. We considered that consumers would regard this claim to refer to the overall market for self-tanning products. 1. (Misleading advertising), The Facebook post, seen in September 2016, stated "UK Mum of two invents a new way to Tan [sic], tone and look thinner AND this summer it became the UKs [sic] No 1! We therefore concluded that the claims in the ads were misleading. PZ Cussons Beauty LLP challenged whether: 1. the claim "the UKs [sic] No 1" in ad (a) was misleading and could be substantiated; 2. ad (b) gave the misleading impression that Skinny Tan did not contain DHA and therefore smelt better than other tanning lotions; 3. the claims in ads (a) and (b) that the product was “natural” were misleading; and. article's content and its accuracy. It is therefore important that you understand the risks and commitments. Claims on the Skinny Tan Facebook page and on www.skinnytan.co.uk: a. TR-1: S tandard form for notification of major holdings . (Comparisons with identifiable competitors). On this point ads (a) and (b) breached CAP Code (Edition 12) rules Headquartered in the UK, InnovaDerma is an emerging leader specializing in the research, manufacture, and marketing of clinically proven products in life sciences, beauty, and personal care products. Innovaderma UK Ltd t/a Skinny Tan responded that their claim to be the “UKs [sic] No 1” was based on them being the No 1. We considered that the claims in the ads that the product was natural such as “100% certified natural tanning” in ad (a) and “Look for the natural alternatives” in ad (b) would be taken by consumers to mean that the products were made from natural ingredients and were made using natural methods which did not include a high level of processing. The maker of Skinny Tan self-tanning lotion said revenue fell to £4.1m in the six months to the end of December from £5.1m a year earlier as the Covid-19 crisis hit sales of beauty and tanning products. The ASA may regard claims as misleading in the absence of adequate substantiation. The ASA may regard claims as misleading in the absence of adequate substantiation. With the help from dotdigital, InnovaDerma launched campaigns with a focus on its Welcome series, Product Replenishment and Birthday series. InnovaDerma was performing well going into the pandemic and with the support of our major shareholders I have every confidence in the prospects of the company.". Marketing communications that include a comparison with an identifiable competitor must not mislead, or be likely to mislead, the consumer about either the advertised product or the competing product. Accounts. We therefore concluded that the “natural” claims were misleading. Before distributing or submitting a marketing communication for publication, marketers must hold documentary evidence to prove claims that consumers are likely to regard as objective and that are capable of objective substantiation. 3.7 Coronavirus - we're here to help
We considered that the trial provided by Skinny Tan was not adequate to substantiate that the product had any benefits beyond appearance. We also did not receive evidence that the product as a whole, rather than just ingredients that made up the product had been independently certified as “natural”. CRO Operations and Administration Suite 300 1-866-575-3111 3.1 WC1N 3AF. We also considered that the claim in ad (b) that “derived Guarana that together with the tan will help make cellulite look visibly smoother and less obvious” would be understood to imply that Guarana had properties that reduced cellulite. Before distributing or submitting a marketing communication for publication, marketers must hold documentary evidence to prove claims that consumers are likely to regard as objective and that are capable of objective substantiation. The Company generated revenues of £5.0m, up c.28% compared to the same period last year (H1 2019: £3.9m). Additionally we did not see evidence that the DHA contained in Skinny Tan was different to that of other products. The company said it expected tanning sales to improve as Covid-19 restrictions ease and the peak season comes around between April and June. 4. the claims in ads (a) and (b) that the product had smoothing and firming effects on the skin, would make consumers look thinner and reduce the appearance of cellulite were misleading and could be substantiated. On 2 December the company said Chairman Joe Bayer would resign at the end of January. They are engaged and passionate about their work. 2 & 3. 3.33 Before distributing or submitting a marketing communication for publication, marketers must hold documentary evidence to prove claims that consumers are likely to regard as objective and that are capable of objective substantiation. They stated that, like with contouring in makeup, people used tanning to look healthier, thinner and to reduce the appearance of cellulite. Get updates, handy hints, and insightful advice direct from the experts who write the advertising rules. InnovaDerma (LSE: IDP), a UK developer of beauty, personal care and life sciences products, provides a trading update for the six months ended 31 December 2019. InnovaDerma was performing well going into the pandemic and with the support of our major shareholders I have every confidence in the prospects of the company." Our rulings are a transparent record of our policy on what is and isn’t acceptable in ads. 3.1 Click here for FAQs and to submit an enquiry. The Advertising Standards Authority Ltd. (trading as ASA), registered in England and Wales, Registered Number 0733214, The Advertising Standards Authority (Broadcast) Ltd. (trading as ASAB), registered in England and Wales, Registered Number 5130991, The Committee of Advertising Practice Ltd. (CAP), registered in England and Wales, Registered Number 8310744, The Broadcast Committee of Advertising Practice Ltd. (BCAP), registered in England and Wales, Registered Number 5126412, All companies listed are registered at: Castle House, 37-45 Paul Street, London, EC2A 4LS [. InnovaDerma PLC - London-based developer of beauty, personal care and life science products - Raises GBP4.5 million from oversubscribed share placing and subscription. The "Tanning Tips" page on the website, seen in January 2017, stated "No matter what time of year it is "Tanning" is a fantastic way to help your body look instantly toned. No news or research item is a personal recommendation to deal. Learn more about our Press Team and how to sign up to gain access to embargoed rulings. CONTACT. In independent trials 84% reported that Skinny Tan gave them smoother skin and less visible cellulite. The ad went on to say “A great advantage is that these natural agents don't smell so strongly of that awful fake tan smell” which we considered would be understood to mean the advertised product smelt different, and better than, products containing “chemical DHAs”. (Misleading advertising) and Innovaderm shares your mission of developing innovative treatments for patients living with skin diseases. InnovaDerma has presence in the UK, Europe, US, Australasia, Asia and Africa. 3.7 Company status Active Company type Public limited Company Incorporated on 19 September 2014. We may not share
Next accounts made up … IDP.UK - key executives, insider trading, ownership, revenue and average growth rates. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. 3.7 InnovaDerma is a UK developer and marketer of beauty, personal care and clinically proven life science products. 3.1 The ASA may regard claims as misleading in the absence of adequate substantiation. (Misleading advertising), We acknowledged that Skinny Tan had provided evidence to show that its products were made using natural ingredients. InnovaDerma PLC . AdviceOnline entries provide guidance on interpreting the UK Code of Non-broadcast Advertising and Direct & Promotional Marketing.
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