$12M Naples skin, hair care business wins upgraded stock listing

Publicly traded skin and hair care brand Naples Soap Co. is hoping a boost in the index it trades on will translate to more attention from investors and, eventually, more capital. 

The Collier County-based company, traded under the symbols NASO, has been upgraded to the OTCQB Venture Market, which, according to a statement, serves entrepreneurial and early-stage U.S. and international companies. The change was effective May 22, the release adds. 

To be listed on the OTCQB Venture Market, companies must maintain current financial reporting standards and complete an annual verification and management certification process.

Naples Soap Company had $12.4 million in sales in 2024, public filings show. That was up slightly from $12.3 million in 2023, the company says, “despite several devastating hurricanes, continuing inflationary pressures, supply chain issues (and) changes in consumer spending habits.” 

The firm also posted a loss of some $2 million in 2024, compared to a loss of about $955,000 in 2023. Sales in the 2025 first quarter, meanwhile, were flat over 2024, the company says, at about $3.3 million. The company had a net loss of $468,000 in the first quarter, filings show.

In an April statement the company announced “the successful execution of a strategic, companywide organizational and financial turnaround with plans that have been underway for the past six months.” The turnaround, the company says, was “in response to the financial impacts of Hurricanes Helene and Milton in the fall of 2024, new market trends, the company’s then financial structure and a profitability assessment.”

The turnaround, company officials say, addressed every aspect of financial structure, internal departments and external business channels, including retail, wholesale and e-commerce, with an emphasis on financial and human performance, accountability and increasing profitability. Underperforming functions were either restructured, reimagined or slated for elimination, according to an April 8 statement. 

Naples Soap Company founder and CEO Deanna Wallin says the upgraded listing is another step forward for the 16-year-old business.

“Our uplisting to the OTCQB Venture Market marks a key advancement in our capital markets strategy and underscores our commitment to strong corporate governance and financial transparency,” Wallin says in the statement. “We expect this move to significantly increase NASO’s visibility among investors, enhance liquidity and support broader access to growth capital.

Founded in 2009, Naples Soap Company is a supplier of over 600 bath, body and personal care products. Products are sold at the company’s 13 retail locations in Florida, online at NaplesSoap.com and in more than 300 stores throughout the United States via the company’s wholesale division.