FORT LEE, NJ, June 30, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Maison Luxe, Inc. (OTC: MASN) (“Maison Luxe” or the “Company”), an emerging leader in the global custom luxury goods marketplace, reported revenues for the year ending March 31st 2022 of $17,645,898 compared to revenues of $5,284,154 for the year ending March 31st 2021, representing an increase of over 300%. The financial statement can be viewed in its entirety at OTC Markets.
Amid the COVID-19 crisis, the global market for Luxury Goods estimated at US $242.8 Billion in the year 2022, is projected to reach a revised size of US $296.9 Billion by 2026, growing at a compound annual growth rate (“CAGR”) of 4.8% over the analysis period. Maison Luxe’s current CAGR was greater than industry projected average primarily due to execution of the Company’s business, sales and marketing plan which nurtured a growing pipeline throughout the year which resulted in many new and repeat customers in this rapidly growing marketplace. Maison Luxe prides itself with excellent products, competitively priced, on time deliveries and friendly and supportive customer service.
Anil Idnani, CEO of Maison Luxe, stated, “2022 was a fantastic year for Maison Luxe, but it is just the beginning. We significantly grew our annual revenues by over 300% to exceed $17 mil. We generated gross profit of almost $30K. We did incur an approximate $1.5 mil. loss from operations which we attribute to aggressive marketing, systems and operations building, new product lines, new accounts, expanding our Board Directors all for continued top line growth. We are extremely confident that 2023 will continue our path of explosive growth and success. We plan to share new developments as they occur to diversify the Maison Luxe portfolio and increase the company’s footprint in the luxury goods marketplace. We encourage our shareholders to stay tuned….”
ABOUT MAISON LUXE, INC.
Maison Luxe offers luxury retail consumer items. The Company operates as a niche high-end luxury goods retailer, helping interested consumers obtain rare luxury items that may otherwise not be available due to the nature of the luxury retail marketplace. The Company focuses its efforts primarily within the fine time piece and jewelry segments, both on a wholesale and B2C (business-to-consumer) basis. Company subsidiary Amani Jewelers operates with a strategic focus on the rapidly growing lab-grown diamonds market. In addition, Maison Luxe holds a significant investment position in Aether Diamonds, which was founded in 2020 as the world's first and only captured carbon lab-grown diamond producer.
This release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements also may be included in other publicly available documents issued by the Company and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "would," "could," "will" and other words of similar meaning in connection with a discussion of future operating or financial performance. Examples of forward looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the Company's actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others. such as, but not limited to economic conditions, changes in the laws or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Any forward-looking information provided in this release should be considered with these factors in mind. We assume no obligation to update any forward-looking statements contained in this report.