WILTON MANORS, FL / ACCESSWIRE / February 14, 2019 / LifeApps Brands Inc., (OTC PINK: LFAP) ("LifeApps"), an emerging growth digital media company, has purchased LGBT Loyalty LLC, a New York limited liability company from Maxim Partners, LLC, a New York limited liability company. Through LGBT Loyalty, LifeApps intends to create, establish, develop, manage and capitalize a LGBT Loyalty (ETF) Index Traded Fund, supported through newly created dynamic business channels. ''Connecting the world's most supportive LGBT companies to the dynamic loyal and time-tested spending power of the LGBT community is a consequential step forward for the LGBT movement and investing community,'' said Bobby Blair, CEO of LifeApps. ''The acquisition of LGBT Loyalty from Maxim Partners provides us with a tremendous opportunity to make a major impact to the LGBT community we intend to serve.''
The LGBT Loyalty (ETF) Index Traded Fund is expected to be the first ''preference'' index fund to survey a representative group of LGBT consumers to determine the top public companies that best support and are supported by the LGBT community. We expect the S&P 500 to represent the universe of companies surveyed. Expert LGBT economists have repeatedly stressed the value of the LGBT brand loyalty to corporations. We believe the companies that best capture the spending trends and loyalty of the LGBT consumer will be better positioned for financial growth and success. In 2017, LGBT consumer buying power was over $917 billion in the US market alone. Our business strategy is targeted to part of the $3.7 trillion purchasing power of the LGBT consumer demographic worldwide.
More than 450 million people identify themselves as LGBT worldwide and the LGBT community is composed of some of the most loyalty driven consumers in the world. Same-sex households have a 23 percent higher median income compared to mainstream households. The LGBT consumer is 1.23 times more likely to buy brands that reflect their lifestyle and 1.56 times more likely to consider themselves a spender rather than a saver. Fortune 500 companies have mandated diversity and equality as part of their marketing profiles, and we intend to become a leading conduit between this incredibly powerful consumer group and respective LGBT social-impact driven companies around the world.
LifeApps Brands Inc.
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SOURCE: LifeApps Brands Inc