Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
InnovaDerma PLC is a British company. The company, which owns brands such as Skinny Tan, Leimo Instant Hair and Tripollar Pose, has partially moved its production back to the UK. The company previously manufactured its products in Australia but due to the success of its Skinny Tan product – distributed via high street retailer Superdrug – has decided to relocate manufacturing, as part of the company’s expansion plans for the UK and Europe. The company that will handle the production of InnovaDerma’s product lines to Prestige Personal Care Ltd. In the short term, plans are in place to distribute to the UK only, with the intention of expanding to other markets worldwide. According to the Executive Chairman, the strategic decision to move part of the production from Australia to the UK has been driven by two main factors: to increase the presence in the local British market as well as to save costs principally in the areas of manufacturing and logistics The depreciation in the pound sterling has made the UK an even more competitive place from which to do business, and more attractive to investors, which lends further weight to the board’s decision to grow both in the domestic market and elsewhere in Europe. Already from the end of 2017 the decision of moving production to the UK should positively impact the company’s financial performance.
Eurofound (2016), InnovaDerma, Reshoring in United Kingdom, factsheet number 150, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/150.