"We started adding beauty brands to the platform and that will be where we will place our focus going forward," said Bob D'Loren, chairman and CEO of Xcel Brands. "We think this is a good opportunity going forward."
"Social selling is a vital marketing strategy for beauty brands, which must now explore new ways to diversify in preparation for sudden shifts in the social commerce landscape," said Faisal Ahmed, CEO of ORME. "These brands need a platform that delivers results without the complexities and challenges tied to legacy social media apps."
"ORME's user-first approach empowers everyone in the ecosystem—from influencers and brands to everyday users—while upholding the highest standards for data privacy and content quality," said Faisal Ahmed. "It's crucial that we set these standards as we introduce new beauty brands to our platform."
"We're looking at the price of the products also," D'Loren said. "The average spend on beauty is crucial to understanding our expected sales, as we aim for $100 million or about 1% of the total market with 300 to 500 beauty brands in year one."
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