Shares of Maison Luxe (OTCMKTS:MASN) have been under pressure over the past few weeks with a fall of 66% in the past month. Moreover, the stock has seen huge selling pressure over the past year with a slump of 98%.
Trading Data
On Wednesday, MASN stock moved up 1% to $0.0101 with more than 1.47 million shares, compared to its average volume of 1.14 million shares. The stock moved within a range of $0.0097 – 0.0120 after opening trade at $0.0114.
About The Company
Maison Luxe (OTCMKTS:MASN) is a niche high-end luxury goods retailer, which helps consumers acquire rare luxury items that may otherwise not be available due to the nature of the luxury retail marketplace. It is primarily focused on the fine timepiece and jewelry segments, both on a wholesale and B2C (business-to-consumer) basis.
Maison Luxe Continues to Execute Its Growth Plan by Launching Luxury Sneaker E-Commerce Website: Kicks on Demand
Maison Luxe, Inc. announced that it is pursuing its growth plan by launching luxury sneaker eCommerce website, Kicks on Demand. It has recently talked about plans to make a foray into the secondary market of luxury sneakers (as per Business Insider it could be valued at $30 billion worldwide by 2030).
Management has also purchased the domain name, kicksondemand.com, and is incorporating current inventory, in real time, to be available for purchase online immediately. Leading the division will be Raj Idnani, current COO of Maison Luxe, and the vision behind the concept of Kicks on Demand. He says that he has been involved with the resale market of luxury sneakers for over ten years. The resale of sneakers is a concept that always appeals to a younger entrepreneur as well as customer base. The popularity of the sneaker business is due to accessibility. With the right injection of capital and proper buying, a demand can be created to generate lucrative business.
Management is currently looking to expand its e-commerce website, which can be an additional source of sales revenue and is actively scouting and discussing plans for brick-and-mortar locations. The company also intends to start social media and overall marketing of this new division, in order to establish a powerful presence in the marketplace.
Key Quote
Idnani stated, “I have been involved in the resale market of luxury sneakers for over a decade, dating back to attending my first sneaker conventions in high school. The resale of sneakers is an industry that has always been trending due to its appeal to a younger entrepreneurs as well as its customer base. The beauty of the sneaker business is its accessibility; with the right injection of capital and proper buying team, there is a demand strong enough to generate a serious business.
Best Ever Annual Revenues of Approximately $ 17.6 mil.
Back in June of 2022, Maison Luxe also reported revenues for the year ending March 31st, 2022 of $17,645,898 compared to revenues of $5,284,154 for the year ending March 31st, 2021, which is an increase of over 300%.
Maison Luxe’s present compound annual growth rate was much better than the industry projected average primarily due to flawless execution of the company’s business, sales and marketing plans, which nurtured a growing pipeline throughout the year, resulting in several new and repeat customers in this swiftly growing marketplace.
Anil Idnani, CEO of Maison Luxe, stated that 2022 looks amazing for the company so far as they experienced a whopping 300% growth. Even if they incurred losses of $1.5 million from operations that could be attributed to aggressive marketing, systems, and operations building, new product lines, new accounts, and expanding our Board Directors, the overall growth never suffered. He states that 2023 will be full of developments as they look to diversify the Maison Luxe portfolio and increase the company’s footprint in the luxury goods marketplace. The USP of the company is its premium quality products, competitive pricing, timely deliveries, and supportive customer service.
Technical Data
MASN stock is trading below the 20-Day and 50-Day Moving averages of $0.0183 and $0.0325 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0640. The company has a total market capitalization of 187K with 108.15 million outstanding shares. Moreover, the company has 0.44% or 0.48 million floating shares. The stock is down 65% over the past month.
