ELEVAI Labs Expands to Taiwan with 5th International Distribution Deal in 14 Months

Newport Beach, CA – April 22, 2024 – ELEVAI LABS, INC. (NASDAQ: ELAB), a prominent medical aesthetic firm focusing on physician-dispensed skincare, is excited to announce its recent international distribution agreement with ILIA International Ltd. (“ILIA”), targeting the vibrant market of Taiwan.

ILIA, a reputable sales and marketing distributor based in Taiwan, specializes in luxury skincare brands that leverage innovative, cutting-edge technologies. Under this newly forged partnership, ILIA secures exclusive rights for the distribution of ELEVAI’s patented skincare products across Taiwan. With a strategic approach, ILIA plans to roll out ELEVAI’s products to its clientele across the country.

Chris Kraneiss, Chief Commercial Officer of Elevai Labs, Inc., expressed his satisfaction, stating:

“We are delighted to announce ILIA International Ltd. as our exclusive distributor in Taiwan. With my prior experience in the region, I recognize ILIA’s esteemed reputation and its position as a leading distributor in the aesthetic sector in Taiwan.

“The Asian market has historically embraced exosome-based beauty innovations, and the rapid acceptance of our products underscores their quality, purity, proprietary technology, and advanced formulations. With this agreement, we anticipate ELEVAI emerging as a prominent provider of exosome solutions in Taiwan, propelled by ILIA’s extensive access to key aesthetic practices and clinics.”

Cordelia Huang, Managing Director of ILIA International Ltd., Taiwan, shared her enthusiasm:

“We take pride in our role as the gateway to introducing state-of-the-art skincare products from ELEVAI Labs to our discerning clientele in Taiwan’s medical aesthetics domain. We hold strong confidence in the efficacy of ELEVAI’s E-series skincare products in enhancing health and beauty, and we anticipate their success in this region.”

Demand for Prestige in Taiwan:

According to GLG, a financial and global information services company, Taiwan’s beauty trends resemble those of Japan’s robust market but exhibit even stronger growth. In Taiwan, prestige products command 60% of the market share, with mass-market offerings constituting the remaining 40%, highlighting a significant appetite for premium products compared to the US market, where the split is closer to 50/50.

Regional Insights:

The Asia-Pacific region is poised to outpace global growth in the high-end skincare and haircare sectors, driven by factors such as rising disposable incomes, urbanization, and heightened awareness of personal grooming. Currently, the prestige skincare and luxury haircare markets in Asia-Pacific are valued at $2.6 billion and $10.4 billion, respectively, totaling $13 billion in annual turnover. Projections indicate these figures could swell to $20.6 billion by 2030.

Asia-Pacific is expected to lead global growth in these sectors, with the prestige skincare market forecasted to grow at 9.9% annually over the next five years, while the luxury haircare market is poised for 8.9% yearly growth over the next six years.

ILIA specializes in comprehensive sales and marketing of luxury skincare brands featuring innovative technology, top-tier aesthetics, and therapeutic applications in anti-aging, skin longevity, and cell therapy, with a particular focus on emerging exosome solutions. The company excels in addressing the unmet needs of both medical physician-dispensed and consumer-driven markets.

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