Since the founding of the istyle Group, our business plan has included the concept of a "Vertical Business Model." Here, we would like to talk about what this means to us.
Generally speaking, the information that companies can use to market their products is limited to data they obtain from their own customer base. However, marketing should make use of wider data samples that include the general public, including potential consumers who have not yet engaged with the brand.
Since its founding, istyle has actively aggregated customer feedback about cosmetic products and built a cross-brand CRM database. This allows brands to not only compare their data to that of other brands, but also to participate in the creation of a universal marketing platform for the cosmetics industry. Put simply, we aggregate data and allow industry players to share this data as they need to compete in the market.
Brands can use this data to craft vertical integration plans, which has been key to istyle's mission since our founding. This is the essence of our Vertical Business Model. Now, more than 25 years since our business launched, that mission remains unchanged.
Currently, we are leveraging this database to effectively combine online and offline channels in the beauty sector (such as our brick-and-mortar @cosme STORE and e-commerce @cosme SHOPPING platform) to develop a vertically integrated business, as well as provide marketing support services that increase touchpoints between brands and users.
