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.
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