Vancouver, British Columbia--(Newsfile Corp. - July 5, 2023) - Ambari Brands Inc. (CSE: AMB) (OTCQB: AMBBF) (FSE: Y92) ("Ambari" or the "Company"), announces the initiation of research and development towards an artificial intelligence-powered beauty software and application, named "Scarlett." The software will aim to leverage cutting-edge artificial intelligence (AI) technology to enhance personalized beauty experiences. This new development will also be supported with the URL: www.ambari.ai.
For personal users, Scarlett will be available through an application that offers a range of features. The application's AI-powered Color Matching feature will analyze skin tones and undertones, providing recommendations for foundation, blush, lipstick, and eyeshadow shades. With Scarlett's Virtual Makeup Try-On function, users will also be able to experiment with different makeup looks and shades in real-time using their smartphones. Additionally, Scarlett's personalized Skincare Assistant will analyze close-up photos of users' faces to offer customized skincare product suggestions, helping them achieve their desired skin goals.
For B2B applications, Scarlett's AI-powered makeup selection software will offer beauty stores two engaging solutions.
- Integrated with tablets and iPads, the software will provide an intuitive interface for beauty store staff to assist customers with selecting makeup products. It will offer virtual try-on capabilities, allowing customers to visualize different makeup looks before making a purchase. The software will also analyze customers' preferences and provide them with recommendations, streamlining the sales process and enhancing the customer experience. With Scarlett's B2B software, beauty stores will be able to operate more efficiently, reduce costs and improve their customer experience.
- The software will be operated through beauty booths installed in retail stores, where customers will be able to enter a booth and undergo a skin assessment that relies on Scarlett's AI technology and a suite of high-powered cameras. The cameras will analyze customers' skin and provide product recommendations that will work best for their skin conditions.
The Company hopes that Scarlett will be able to assess customers' skin more accurately than humans, given that, within seconds, the program's AI technology will be able to analyze thousands of ingredients across thousands of products, recommending the best products for individual users. In doing so, Scarlett would be able to harness the entire corpus of knowledge available on the internet about beauty and funnel it into recommendations for users. Once developed and, if successfully executed, Scarlett could reduce the need for human beauty advisors in retail stores.
According to the latest market intelligence research report by InsightAce Analytic, the global artificial intelligence (AI) in beauty and cosmetics market size was valued at US$2.70 billion in 2021, and it is expected to reach US$13.34 billion in 2030, reflecting an expected CAGR of 19.7% from 2021 to 2030.
The development of Scarlett aligns with the Company's vision to provide innovative solutions that cater to evolving consumer preferences and enhance the beauty journey. The initial phase of the project will focus on refining the AI algorithms that will be used in accurate color matching, optimizing virtual makeup trials and creating an intuitive user interface. Through this process, Ambari intends to collaborate with industry experts, leveraging their knowledge and insights to ensure Scarlett meets the highest standards of functionality and user experience.
"We are excited to embark on this research and development journey for Scarlett. With the growing demand for personalized beauty solutions, we believe Scarlett has the potential to revolutionize the way consumers interact with beauty products and skincare routines," said Nisha Grewal, CEO of Ambari. Ambari remains committed to its core values of innovation, user-centric design, and technological excellence. The Company anticipates sharing further updates on the progress of Scarlett as it advances through the development stages.
Additionally, Ambari is pleased to announce it has launched a website to cover this division of the Company at www.ambari.ai.
About Ambari Brands Inc.
Ambari is a company committed to transforming the beauty industry through its AI technology "Scarlett" and product lines that are carried in the world's largest retailers. To learn more about Ambari, visit www.ambaribeauty.com and www.ambari.ai.
On Behalf of the Board of Directors
Nisha Grewal
CEO, Corporate Secretary and Director
inquiries@ambaribrands.com
+1 (424) 284-4022
Forward-Looking Statements
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding: the development of Scarlett and the functionality of the Scarlett application and software; the expected uses of Scarlett and the solutions the Company hopes to offer users thereof; expected growth in the AI in beauty and cosmetics market; the timing and phases of development of Scarlett; and Scarlett's potential to revolutionize the way consumers interact with beauty products and skincare routines, are "forward-looking statements." These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this press release, and does not accept responsibility for the adequacy or accuracy of this release.
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