Miami Beach, Jan. 24, 2013 (GLOBE NEWSWIRE) -- DS Healthcare Group, Inc. (Nasdaq: DSKX), formally known as Divine Skin Inc. (the "Company"), a leading developer of personal care products, has announced the completion of the acquisition of Mexico City-based Divine Skin Laboratories S.A. Divine Skin Laboratories had been the Company's exclusive distributor in Mexico since 2009. Total revenues for Divine Skin Laboratories S.A. in 2011 were $1,145,219 million and contributed approximately 10% of DS Healthcare's revenues in 2011.
Revenues for Divine Skin Laboratories S.A. were $1,334,820 in the nine months ended September 30, 2012. Divine Skin Laboratories has been in business since 2008 and has approximately 40 employees.
DS Healthcare acquired Divine Skin Laboratories in exchange for 450,000 shares of Common Stock of DS Healthcare.
About DS Healthcare Group
DS Healthcare Group, Inc. leads in the development of biotechnology for topical, and nutritional therapies. It markets through online and specialty retailers, distributors, cosmetics wholesalers and salons. Its brands include DS Laboratories (www.DSLaboratories.com), Sigma Skin (www.SigmaSkin.com), Polaris Research Laboratories (www.PolarisReserachLabs.com) and Pure Guild (www.ThePureGuild.com).
Forward-Looking Statements:
Except for statements of historical fact, the matters discussed in this press release are forward-looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "future," "plan" or "planned," "expects," or "projected." These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the company's control that may cause actual results to differ materially from stated expectations. These risk factors include, among others, limited operating history, difficulty in developing and marketing products, intense competition and additional risks factors as discussed in reports filed by the company with the Securities and Exchange Commission, which are available at http://www.sec.gov.