Maison Luxe Establishes Kicks On Demand Subsidiary to Leverage Strong Relationships In Estimated $6 Billion Global Sneaker Resale Market
Maison Luxe, Inc. (OTC: MASN) has announced its acquisition of Kicks On Demand, a luxury footwear and apparel reseller founded by MASN CEO Anil Idnani. The acquisition aims to enhance Maison Luxe's product offerings and capitalize on the growing sneaker market, projected to reach $30 billion by 2030. Kicks On Demand's inventory is valued near $100,000, and the company plans to grow this inventory alongside developing an e-commerce platform for direct-to-consumer sales. Further financial details will be disclosed in the next financial update.
- Acquisition of Kicks On Demand will diversify product offerings.
- The sneaker market is projected to reach $30 billion by 2030.
- None.
FORT LEE, NJ, June 01, 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, is pleased to announce that the Company is currently in the final stages of acquiring Kicks On Demand, a reseller of luxury footwear and apparel.
Kicks On Demand was also founded by MASN CEO Anil Idnani in 2020 and has grown its inventory of luxury sneakers with a current market value nearing
Anil Idnani, CEO of Maison Luxe, commented, “Maison Luxe was created as a retail experience for all luxury goods, while we specialize in procuring the very best of timepieces and fine jewelry, the Company is set up to offer a diversity of products. Kicks On Demand offers luxury sneakers, another high-demand product that we can add to the Maison Luxe family. We will apply the same model of sales and marketing that has been working well for our current revenue stream to the new venture and anticipate promising results.”
Management notes that, once the acquisition is complete, the Company plans on increasing inventory in order to satisfy a working online platform that will make product available immediately. The additional revenue stream and assets will be disclosed at the time of the Company’s next financial disclosure.
According to Cowen Equity Research, it is estimated that the sneaker market will be worth up to
About Maison Luxe
Maison Luxe offers luxury retail consumer items that are responsibly sourced and affordable. The Company operates as a niche high-end luxury goods retailer, helping interested consumers obtain rare luxury items that may otherwise not be reliably 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. The Company now also owns its Amani Jewelers subsidiary, which operates in the jewelry marketplace, 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.
For more information, please reference https://www.maisonluxeny.com/investors
FORWARD-LOOKING STATEMENTS: 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.
Corporate Contact:
www.maisonluxeny.com
551-486-3980
anil@maisonluxeny.com
https://twitter.com/MaisonLuxeInc
FAQ
What is the recent acquisition by Maison Luxe (MASN)?
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