Subject: NEW PRODUCTS/SERVICES
Elevai Labs Launches E-commerce Portal to Support Rapid Growth as Stem Cell Exosome Disruptor in the $19.7 Billion Global Physician Dispensed Cosmeceutical Market
NEWPORT BEACH, Calif., March 18, 2024 (GLOBE NEWSWIRE) -- ELEVAI LABS, INC., (NASDAQ: ELAB) a medical aesthetic company specializing in physician-dispensed skin care, is proud to announce the launch of its online E-commerce portal. The new E-commerce portal serves as a business-to-business (B2B) extension of the Company's existing B2B relationship with physician dispensed providers currently offering ELEVAI products in the $19.7 billion global industry1.
Through the Company's online platform, retail customers can now select a physician provider to start their personalized skin care journey and enjoy the ease and convenience of online re-ordering.
Benefits to ELEVAI with the launch of the ecommerce portal include:
- Physicians can now offer ELEVAI's professional-grade products, having them delivered directly to patients. These same customers have the option to reorder directly from the ELEVAI E-commerce portal, allowing ELEVAI to share the economic benefits with physicians;
- Potential increased sales through ease of ordering, and online marketing;
- Acquire potential new customers from the integration of social media and influencer campaigns, referral programs, and user reviews;
- Granular data collection used for understanding user trends, streamline marketing, and geo-targeting; and
- Aligns with long-term strategy to simplify distribution operations while cutting operating costs.
ELEVAI enfinityTM, an at home face serum for daily use, featuring the industry's first and only age 0, umbilical cord-derived, stem cell exosome created through the PRExTM process, will be sold online through this portal. ELEVAI's in office product, ELEVAI empowerTM, a post-treatment serum utilizing the same exosome platform technology, will continue to be sold only through the Company's B2B dispensed channels. ELEVAI is also currently finalizing the development of additional skincare products to be sold through its E-commerce store expected to be announced later this year. Sales, Marketing & Distribution Infrastructure:
In the United States alone, there are over 28,000 Dermatologists, Plastic Surgeons, and Med Spas. With less than 1% of the shelf space in the US, and less internationally2, ELEVAI has enhanced its sales and distribution infrastructure in preparation of the anticipated skincare industry's continued growth trajectory. The company recently announced unaudited 113% YoY Q4 sales growth and 75% YoY Q4 new account growth.
Additionally, with the Company's infrastructure in place, the Company now has the ability to quickly and efficiently launch new products utilizing the same ELEVAI exosome platform technology, sold through the same Ecommerce channel with minimal programming.
Dr. Jordan Plews, CEO, expressed his enthusiasm, "As a physician-dispensed skincare line, ELEVAI believes that the purchase of ELEVAI Skincare products is best made through an authorized ELEVAI Skincare Professional. This reflects our commitment to our valued and carefully selected Dermatologists, Plastic Surgeons, and other Skincare Professionals with the medical knowledge and experience needed to guide patients on their skincare journey and maintain the fidelity of the brand.
"At the same time as providing a medically-guided customer journey, ELEVAI is also providing a more convenient experience for the patient all while supporting our sales and marketing initiatives. This launch is a natural progression for the Company as we build for the future success of the brand."
About ELEVAI Labs
ELEVAI Labs, Inc. (NASDAQ: ELAB) is a medical aesthetics company developing cutting-edge physician-dispensed skin care applications. The Company solves unmet needs in the medical aesthetics space through a combination of cutting-edge science-driven and next-generation consumer applications. ELEVAI Labs develops topical aesthetic skin care cosmetic products for the physician-dispensed market, with a focus on leveraging a proprietary stem cell exosome technology. For more information visit www.elevaiskincare.com.
Forward-Looking Statements
Certain statements made in this press release are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified using words such as "anticipate," "believe," "expect," "estimate," "plan," "outlook," "anticipate," and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. Due to known and unknown risks, actual results may differ materially from the Company's expectations or projections. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: (i) the failure to meet projected research & development and production targets; (ii) changes in applicable laws or regulations; (iii) acceptance of our products by consumers and the medical professionals; (iv) increased competition; (v) market conditions; and (vi) other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in our annual and quarterly reports and other public filings filed with the Securities and Exchange Commission (the "SEC") and publicly available on the SEC's website at www.sec.gov. Any forward-looking statement made by us in this press release is based only on information currently available to the Company and speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether because of new information, future developments, or otherwise, except as required by law.
Media & Product Contact:
Brenda Buechler, CMO
[email protected]
Investor Relations Contact:
Tyler Troup, Circadian Group IR
[email protected]
1 https://www.businesswire.com/news/home/20230929292214/en/Physician-Dispensed-Cosmeceuticals-Market-Set-to-Double-by-2030-Reaching-37.3-Billion-Aging-Population-and-Skin-Health-Drive-Surge---ResearchAndMarkets.com#:~:text=The%20global%20market%20for%20Physician,the%20analysis%20period%202022%2D2030
2 https://americanmedspa.org/blog/the-2022-medical-spa-state-of-the-industry-executive-summary-in-context
Photos associated with this release are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/ea7dca39-4710-437b-8447-892c945bbf16
https://www.globenewswire.com/NewsRoom/AttachmentNg/2eafbd93-e782-4b05-bd3b-e437d93a167d
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