Timestrip plc is delighted to announce that it has received its first order to supply its patented Timestrip product into the Cosmetics sector.
The deal involves the full integration of the Timestrip® into the packaging of a branded cosmetics product that will be launched in 2009 throughout the US and in selected outlets in Europe. Confidentiality restrictions prevent disclosure of the identity of the brand, product or leading beauty retail chain through which the product will be sold, until closer to launch.
Known as a “Period After Opening” instruction, all cosmetic products sold in the EU with a shelf life over 30 months have to show for how long the product can be safely used after opening. Governed by the EU Cosmetics Directive, this is currently satisfied by printing a line drawn symbol of an open jar with a number (of months) on the product’s label, which is fast becoming accepted as best practice worldwide.
In recent months Timestrip was featured in a number of leading U.S. women’s magazines culminating in television segments on both the Today Show and NBC News. This media attention focused on Timestrip as a solution for keeping track of the age of beauty products and highlights a growing consumer awareness of this issue. Timestrips are unique in their ability to go further than a simple printed instruction, as they show when the limit on that recommended storage time has actually been reached, by virtue of the coloured liquid reaching the end of the window.
Reuben Isbitsky, Joint Chief Executive, Timestrip Plc, commented: “This deal is important for a number of reasons. Not only have we have broken into a potentially lucrative sector that is governed by legislation, but we will also be able to showcase a full integration of our technology into the packaging of a mass-market product that is both aesthetically pleasing and extremely functional. We aim to establish Timestrip in the Beauty and Cosmetics sector in the same way that we are fast becoming a technology of choice in the Appliance/Consumables market worldwide.”