Xcel Brands Co-Founds ORME, a Next Generation Short-Form Video Marketplace
Summary
ORME was created to reward customers for interacting with brands and retailers, (GLOBE NEWSWIRE) -- (NASDAQ: XELB) (Xcel or the Company), a media and consumer products company with expertise in livestream shopping and social commerce, today announced its 30% investment in ORME, a groundbreaking short-form video (SFV) marketplace designed to revolutionize social commerce.ORME is an opportunity with unicorn potential, said Robert W. DLoren, Chairman and Chief Executive Officer of Xcel. This feature not only amplifies brand content but also offers fee earning potential through referrals, leveraging the power of social networks and word-of-mouth marketing.ORME is set to transform the retail model from a one-to-many to a many-to-many experience. For brands and retailers, ORME offers free, simple, and fast integration with all e-commerce platforms and an easy, efficient, and controlled content creation process. According to , on average, 28% of video shopping leads are converted into sales, a statistic that ORME plans to capitalize on.The SFV and social commerce market is growing rapidly. ORME was cofounded by andORME is committed to evolving through innovations in technology including the major application of AI, making deep connections with our users and community and providing opportunity to all in the retail commerce flywheel.