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
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The expansion of ELEVAI LABS, INC.'s distribution channels to include a direct-to-consumer E-commerce portal represents a significant strategic shift in the company's approach to sales. By leveraging the existing B2B relationships and extending them to a B2C model, ELEVAI is tapping into the growing trend of consumer convenience and online shopping. This move could potentially widen the customer base and increase brand visibility, especially with the integration of social media and influencer campaigns.
However, the effectiveness of this strategy will largely depend on the company's ability to maintain product quality and brand reputation in a market that is increasingly crowded with skincare options. Moreover, while the direct-to-consumer model can improve margins by cutting out middlemen, it could also strain ELEVAI's relationships with its B2B partners, who may view this as competition. The granular data collection mentioned could provide valuable insights into consumer behavior, but it also requires robust data analysis capabilities to translate into actionable business strategies.
The reported 113% YoY Q4 sales growth and 75% YoY Q4 new account growth for ELEVAI are impressive figures that suggest a strong market demand for their products. The company's ability to quickly launch new products with minimal programming due to its established infrastructure could lead to cost savings and rapid scalability. This operational efficiency may be reflected in future financial statements as reduced operating costs and higher profit margins.
Investors should monitor how the shift to a direct-to-consumer model impacts ELEVAI's overall sales and whether it can sustain the growth rate post-launch. It's also important to consider the capital expenditures associated with enhancing the sales and distribution infrastructure and how this will affect the company's cash flow and balance sheet in the short term.
The launch of a new E-commerce platform brings with it a host of legal considerations, particularly in the realm of consumer privacy and data protection. As ELEVAI plans to collect granular data for better targeting and marketing, they must ensure compliance with data protection regulations such as GDPR and CCPA. Additionally, the company's commitment to selling through authorized skincare professionals raises questions about regulatory compliance in different jurisdictions, especially with medical-grade products.
It is important for the company to maintain rigorous standards for online sales to prevent unauthorized reselling or counterfeiting, which could harm the brand's reputation and lead to legal challenges. The emphasis on maintaining the fidelity of the brand through authorized professionals suggests a focus on quality control and product authenticity, which is important for maintaining consumer trust in a highly regulated industry.
ELEVAI Physician-Dispensed Skincare Now Available Direct to Consumers
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
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
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
contact@elevailabs.com
Investor Relations Contact:
Tyler Troup, Circadian Group IR
IR@elevailabs.com
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%
2 https://americanmedspa.org/blog/the-2022-medical-spa-state-of-the-industry-executive-summary-in-context
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