(NZX:ECO) has announced it will change its name to Trilogy International Limited effective 4 June 2013.
The change reflects the direction of the business that sees 60 per cent of its revenue now coming from the brand, which it acquired in September 2010. Trilogy's Australian business has increased by 30 per cent from last year, with the group's revenue expected to be $26.6 million for the year ending 31 March 2013, an 18 per cent year-on-year increase. The group expects this trend to continue in Australasian and international markets, pointing to the expansion of Trilogy's UK distribution into 27 John Lewis stores and, more locally, Australia's 450 Amcal Max, Amcal and Guardian nationwide pharmacies.
We believe that by changing our name to Trilogy, investors will better understand the direction of our business. Importantly, it supports the breadth of opportunities available to us in both the home-fragrance market and the international skincare market,” said Stephen Sinclair, CEO of Trilogy International.
The global skincare market continues to grow and the Trilogy brand is well placed to take advantage of opportunities both in Australasia and internationally. Key recent wins for the Trilogy brand highlight the opportunities available that we are well-positioned to pursue. Trilogy’s certified natural credentials and the fact that it’s a New Zealand product provide strong points of difference for us to leverage.”
Despite the name change, the Ecoya candle business is also continuing to grow, and has achieved revenue growth of 94 per cent in New Zealand so far this year, helped along by the launch of the new products Madison and Mini Metro.
