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Maison Luxe Successfully Launches “Kicks on Demand”

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Maison Luxe, Inc. (OTC: MASN) has reported strong initial sales of over $50,000 from its new Luxury Sneaker division, Kicks on Demand, exceeding sales expectations during its test phase. The CEO highlighted that the company's jewelry division achieved approximately $17.6 million in revenue for fiscal year 2022. Given the surge in interest and projected growth, the luxury sneaker secondary market is expected to reach $30 billion by 2030, aligning with Maison Luxe's strategy to expand its luxury offerings.

Positive
  • Kicks on Demand generated over $50,000 in sales during its initial test run.
  • Jewelry division revenue stood at approximately $17.6 million for fiscal year 2022.
  • Luxury sneaker market is projected to reach $30 billion by 2030.
Negative
  • None.

FORT LEE, NJ, Nov. 10, 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 its recently launched Luxury Sneaker division, Kicks on Demand, has exceeded Company sales expectations with more than $50,000 in sales during its initial test run. The Company previously announced its plan to enter the secondary market for luxury sneakers, which according to Business Insider is projected to reach an estimated $30 billion globally by 2030, as a complement to its luxury timepiece operations.

CEO Anil Idnani stated: “We achieved approximately $17.6 million in revenue in fiscal year 2022 from our jewelry division alone. The secondary market for luxury sneakers is large and growing and with what we have seen in the short time since we launched, we believe Kicks on Demand can be a significant contributor to our revenues in the coming years.” Idnani continued, “Unlike many other resale fashion items, the secondary market for luxury sneakers is similar to that for luxury timepieces in that both sneakers and timepieces mostly resell for more than their original retail price. Sneakers are unique in that young people relate more to sneakers than traditional investments, and luxury designer sneakers are becoming desired collectibles in the secondary market.”

Kicks on Demand is focused on becoming a premier supplier of luxury sneakers at the secondary market level with competitive pricing and accessibility to rare and exclusive products. The team at Kicks on Demand have deep roots embedded in the sneaker and streetwear community where they can ensure access to product and quality control of all merchandise offered.

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



FAQ

What sales did Maison Luxe, Inc. report for its Luxury Sneaker division Kicks on Demand?

Maison Luxe reported over $50,000 in sales for its Luxury Sneaker division Kicks on Demand during its initial test run.

What was the revenue of Maison Luxe's jewelry division in fiscal year 2022?

The jewelry division of Maison Luxe achieved approximately $17.6 million in revenue for fiscal year 2022.

What is the projected value of the luxury sneaker market by 2030?

The luxury sneaker market is projected to reach an estimated $30 billion globally by 2030.

What strategy is Maison Luxe adopting with Kicks on Demand?

Maison Luxe aims to become a premier supplier of luxury sneakers at the secondary market level with competitive pricing and access to rare products.

MAISON LUXE INC

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