26 Sep 2012

Ecoya plans new image

8:10 am on 26 September 2012

Skincare and candle company Ecoya is set to appoint a new chief executive and change its name as it embarks on a major growth phase that will take it into Asia.

The listed company expects to break even this year after a loss of $218,000 in 2011.

Shareholders at its annual meeting in Auckland on Tuesday were told that revenue is forecast to rise by 18% to $26.6 million in the year to March 2013.

In the first six months, it estimates New Zealand revenues to rise by 30% and by 6% in its biggest market, Australia, while online sales are expected to more than double.

Chairman Geoff Ross says the firm will name a new chief executive in the next three weeks to oversee the growth programme.

The company has invested millions of dollars in the first six months in a series of marketing and retail initiatives as well as a push into Asia.

"Natural skincare in Asia is relatively undeveloped, but there is a lot of interest," Mr Ross says.

Ecoya will also look at expanding its own retail outlets next year, though they are unlikely to be traditional stores.