ELEVAI Labs, Inc. announced that it has signed an international distribution agreement with ILIA International Ltd. covering the country of Taiwan. Under the agreement, ILIA will have exclusive rights to distribute ELEVAI's patented skincare products throughout Taiwan. ILIA's near-term sales strategy will be to strategically distribute ELEVAI products to their customers in the country.

Demand for Prestige in Taiwan: According to GLG, a financial and global information services company, beauty trends in Taiwan mirror many of the attributes of Japan's robust market, but with stronger growth. In Taiwan, the prestige side of the industry leads at 60% of the market share, with mass products taking the other 40%, illustrating outsized demand for higher-end products compared to the US market, which is closer to 50/50. Regional Insights: Asia-Pacific's regional growth is set to markedly outperform the rest of the world for high-end skin and hair products due to a confluence of positive trends, including rising disposable income in several countries, increased urbanization, and growing awareness of personal grooming.

The size of Asia-Pacific's prestige skincare and luxury haircare markets currently sits at $2.6 Billion and $10.4 Billion, respectively. Combined, these markets currently represent $13 Billion in current annual turnover and is predicted to reach $20.6 Billion by 2030. The Asia-Pacific market is also set to outperform the rest of theworld in terms of growth.

Asia's prestige skincare market is projected to grow at 9.9% over the next 5 years while the world market averages 3.9%. Within the luxury haircare space, Asia-Pacific is set for yearly growth is 8.9% for the next 6 years while the world market averages 5.9%.