Maison Luxe Reports Revenues of Approximately $3.7 Million for the Quarter Ended September 30, 2022 as Compared to Approximately $2.7 Million for the Quarter Ended September 30, 2021, an Increase of Over 35%
Maison Luxe, Inc. (OTC: MASN) reported a revenue increase of over 35%, totaling $3,711,167 for the quarter ending September 30, 2022, up from $2,713,405 in the same quarter of 2021. The net loss decreased to $958,699, compared to a loss of $1,386,573 a year earlier. CEO Anil Idnani expressed optimism about the holiday season, anticipating further revenue growth due to new retail outlets and partnerships. The company focuses on high-end luxury goods, operating in both wholesale and B2C markets, and holds interests in lab-grown diamonds.
- Revenue increased over 35% year-over-year to $3,711,167.
- Net loss decreased to $958,699 from $1,386,573 year-over-year.
- Expansion into new retail outlets and partnerships expected to drive revenue growth.
- None.
FORT LEE, NJ , Nov. 17, 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 quarter ending September 30, 2022 of
Anil Idnani, CEO of Maison Luxe, stated, “We are pleased with the sustained revenue growth at Maison Luxe. We continue to build our operations and new product lines, such as our Kicks On Demand division, in order to diversify our product mix and increase our footprint in the luxury goods marketplace. We are looking forward to the upcoming holiday period, historically our busiest and most successful time of year.”
Due to its new retail outlets and partnerships, as well as the upcoming Caribbean cruise travel season, the Company is looking to increase revenues for the holiday period.
ABOUT MAISON LUXE
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 reliably available due to the nature of the luxury retail marketplace. The Company focuses its efforts primarily within the fine timepiece and jewelry segments, both on a wholesale and B2C (business-to-consumer) basis. The Company 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 known captured carbon lab-grown diamond producer.
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
info@maisonluxeny.com
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