Ovation Science (OTCMKTS:OVATF) announced a new topical skincare product line infused with hemp-derived cannabidiol (CBD) called ARLO Beauty.
“As part of the Company’s strategic focus on revenue generation and creating shareholder value, we are excited to announce the launch of ARLO Beauty, our anti-aging skincare product line enhanced with CBD,” Ovation Science President Terry Howlett says in a statement.
According to the company’s statement, its anti-aging product line ARLO Beauty is designed to help fight the signs of aging with a rejuvenating day cream, a renewing night cream, a restoring eye cream as well as a moisturizing hand and body lotion.
These products are developed using “proven anti-aging ingredients with scientific evidence of their effectiveness at reducing the appearance of fine lines and wrinkles resulting in youthful looking skin, all enhanced with the power of CBD from hemp and delivered by Invisicare drug delivery technology,” the company states.
Ovation plans to enter the CBD marketplace as federal restrictions on CBD products in the US have been lifted and consumer acceptance and interest in CBD products grows exponentially. The CBD skincare market is expected to grow to $25 billion globally in the next decade, according to research firm Jefferies.
Ovation says that it will start offering its product online in the U.S. and will seeking distributors in the country and globally where approved.
“Shortly we will be launching ARLO Beauty online in addition to seeking distribution partners in the US and globally where permitted. The first products we are introducing include our anti-aging Day Cream, Night Cream, Eye Cream and a luxurious Hand & Body Lotion. We also have a pipeline of additional skincare products poised to launch later this year,” Howlett notes.