MASN 0.0150 up 51% OTC Stock of the day! massive news!!
Maison Luxe Reports Best Ever Annual Revenues of Approximately $ 17.6 mil. for 2022 as Compared to Approximately $ 5.2 mil. for 2021, an Increase of Over 300% and Poised for Rapid Expansion in 2023 GlobeNewswire "Press Releases"
FORT LEE, NJ , June 30, 2022 (GLOBE NEWSWIRE) -- viaNewMediaWire -- 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 31st2022 of $17,645,898 compared to revenues of $5,284,154 for the year ending March 31st2021 , representing an increase of over 300%. The financial statement can be viewed in its entirety atOTC Markets.
Amid the COVID-19 crisis, theglobal marketfor Luxury Goods estimated atUS $242.8 Billionin the year 2022, is projected to reach a revised size ofUS $296.9 Billionby 2026, growing at a compound annual growth rate (CAGR) of 4.8% over the analysis period. Maison Luxes current CAGR was greater than industry projected average primarily due to execution of the Companys 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 companys footprint in the luxury goods marketplace. We encourage our shareholders to stay tuned.
