Palomar and P&G strike licensing deal for light-based hair removal

The deal builds on a previously exclusive arrangement with P&G's subsidiary Gillette - a leader in the market for both male and female hair removal and shaving. Palomar says that it retains the non-exclusive rights for the light-based technology to the female market and exclusive rights to the male market. Gillette initially embarked on an exclusive licensing agreement in 2003, two years before it became part of the P&G group, using the move as a building block to provide a complete portfolio of products in the hair removal and shaving categories. Non-exclusive agreement means greater opportunities​ However, the continued success of the technology means, now that the licensing agreement is drawing to an end, Palomar has found itself in a position to extend the deal and continue marketing the product by signing a non-exclusive agreement. Light-based hair removal first became popular as a means of hair removal about ten years ago, but was initially only carried out by trained beauty therapists. However, when the treatment was approved by the FDA for home use in the US a number of companies obtained approval to market light-based hair removal technologies in the market. The Palomar technology means that individuals can treat themselves by initially using the device on multiple occasions over a period of several weeks, following up the treatment every few weeks to ensure hair does not re-grow. Palomar CEO Joseph Caruso said that the new licensing deal would allow the company to concentrate on new distribution strategies, while also considering strategies with other distribution partners. Tapping into a $10bn market ​ The home hair removal and management category is estimated to be worth $10bn in the US alone and is fast growing, with light-based hair removal treatments carving out a growing niche within this market. "Years ago we recognized that if light-based hair removal could be brought into the home, the market opportunity would be vastly larger and would further increase professional system sales by increasing consumer awareness,"​ said Caruso. "With that in mind, we invested significant resources in research, development and patent protection to make this a reality and ensure that Palomar would be the leader with this innovative technology,"​ he added. Light-based or laser treatment have become increasingly popular in the cosmetic treatment field, with a number of anti-aging treatments also featuring this technology currently being marketed for home use. However, the category took a new twist in March of last year, when Lexington International got FDA approval to start marketing a new laser-based technology for hair re-growth, aimed at individuals suffering from hair loss.