SFLMaven Kicks Off 2021 Holiday Shopping Season with Huge Week as Sales Top $264k

Rhea-AI Summary

SFLMaven Corp. (OTC PINK: SFLM) reported impressive sales growth in late October, with its Thursday Night Auction generating over $244k in a single night and total weekly sales exceeding $264k. The company experienced a year-to-date sales increase of nearly 34% compared to 2020. CEO Joseph Ladin attributes rising demand to supply chain issues affecting primary jewelry retailers, suggesting SFLMaven is positioned to capitalize on this trend. The firm also plans to expand into the collectibles market, targeting NFTs and other memorabilia in hopes of becoming a leading platform in this space.

Positive

• Thursday Night Auction generated over $244k in one night.
• Total sales for the week exceeded $264k.
• Year-to-date sales are up nearly 34% compared to 2020.
• Plans to expand into collectibles and NFTs to capture new market demand.

Negative

• None.

FORT LAUDERDALE, FL, Nov. 02, 2021 (GLOBE NEWSWIRE) -- SFLMaven Corp. (OTC PINK: SFLM), ("SFLMaven" or the "Company"), a leading provider of high-end luxury goods, is pleased to announce that the Company recorded breakout sales during the final week of October – traditionally considered to be the start of the holiday shopping season – with its famous Thursday Night Auction event delivering over $244k in revenues in one night, and total sales for the week exceeding $264k.

“We may already be seeing a bump in our demand from supply chain issues at retail designer jewelers,” noted Joseph Ladin, CEO of SFLMaven. “As we have noted recently, global logistics are playing a huge role in determining outcomes in the high-end luxury goods marketplace right now, and primary jewelers, based on our understanding and analysis, may be having problems meeting roaring customer demand. At the same time, we have no manufacturing process and no supply chain, so we are here, very ready and very willing to capture migrating demand at strong margins.”

The Company’s Thursday Night Auction event was a big success, with total sales for the evening exceeding $244k. The feature sale of the evening was a bracelet designed by famed jewelry designer, Andrew Grima, which went for $15,800.

Management notes that the Company anticipates the rest of the year will deliver a higher average pace of sales than the preceding months of 2021 based on seasonal factors as well as situational factors involved in supply chain problems currently being faced by primary jewelry dealers. This follows last week’s announcement that SFLMaven’s sales, year to date, are up on a year-over-year basis nearly 34% in 2021.

The Company hopes to augment that strong glide path with further material developments in its new Collectibles Marketplace strategy, which focuses on non-fungible tokens (NFTs), baseball cards, coins, comic books, handbags, sneakers, and other collectible memorabilia.

Ladin added, “We are looking to become something like the Amazon of the collectibles marketplace over the next half decade. It’s important to remember that we have two decades of success in auctioning unique and rare items. We have amassed over 100k positive reviews in that time for a reason. The expansion from luxury goods to collectibles and NFTs is relatively simple.”

Follow SFLMaven on social media:

Twitter: @sflmaven
Instagram: sflmaven

About SFLMaven

SFLMaven Corp. (OTC PINK: SFLM), is a premium provider of high-end luxury goods to discerning clientele globally. SFLMaven has driven over $130 million in sales and more than 100k positive reviews since inception, famous for its Thursday Night Auction events on its top-rated eBay store.

For more information, please visit the Company's website at www.sflmaven.com.

FORWARD-LOOKING STATEMENTS:

This press release may contain forward-looking statements, including information about management's view of SFLMaven Corp.'s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words 'believes,' 'expects,' 'intends,' 'plans,' 'anticipates,' or 'may,' and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of SFLMaven, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on SFLMaven's future results. The forward-looking statements included in this press release are made only as of the date hereof. SFLMaven cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, SFLMaven undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by SFLMaven.

SOURCE: SFLMaven Corp.

Corporate Contact
info@sflmaven.com

Public Relations
EDM Media, LLC
https://edm.media

FAQ

What were SFLM's sales figures for the last week of October 2021?

SFLMaven recorded over $264k in total sales, with $244k coming from its Thursday Night Auction.

How much have SFLM's sales increased year-to-date in 2021?

SFLM's year-to-date sales have increased by nearly 34% compared to the previous year.

What strategic market is SFLMaven expanding into?

SFLMaven is expanding into the collectibles market, including NFTs and other memorabilia.

Who is the CEO of SFLMaven and what did he say about current market demand?

Joseph Ladin, the CEO, noted that rising demand is due to supply chain issues affecting primary jewelry retailers.

What future goals did SFLMaven outline in the press release?

SFLMaven aims to become a leading platform in the collectibles marketplace, likening their future to Amazon.