The economy may be a bit wobbly at this point in time but the demand for luxury goods and services possibly remains unchanged, which is why it may be a good move for investors to take a look at that sector. One of the companies in the luxury goods sector that you could consider looking into this morning is Maison Luxe Inc (OTCMKTS:MASN), which is a retail consumer items outfit.
Trading Data
On Friday, MASN stock moved up 23% to $0.0073 with more than 3.04 million shares, compared to its average volume of 1.57 million shares. The stock moved within a range of $0.0060 – 0.0077 after opening trade at $0.0063.
About The Company
Maison Luxe Incis regarded as a high-end luxury items company, which helps customers in getting hold of items that may not be easily available. Considering the very nature of the luxury marketplace, that is a problem that is encountered quite often and Maison Luxe steps in to provide the exclusive service. The items in which Maison Luxe generally deals include jewelry and fine timepieces. It operates in those markets both as a wholesaler as well as a business-to-customer retailer.
Maison Luxe Announces New Partnership With Luxury Retail Outlet Princess World Jewelers to Significantly Grow Revenues
In this regard, it is perhaps also important to point out that Maison Luxe also owns Amani Jewelers, which operates as its subsidiary. It is an innovative company in the jewelry industry and is looking to make a mark through the manufacturing of lab-grown diamonds.
This past Friday, the stock had come into considerable focus among investors and had managed to clock gains of as much as 22% amidst heavy interest. In this situation, it may be a good move for investors to consider taking a look at the development from the previous day. Maison Luxe had announced on July 21 that it had gone into a partnership with the firm Princess World Jewelers for retailing a wide range of luxury timepieces.
The partnership is for retailing these items in many of its brick-and-mortar showrooms.
The announcement seemed to have come as a source of major optimism among investors and that was possibly the reason why the stock managed to go on a strong rally on Friday. That being said, it is going to be interesting to see if it can manage to sustain the momentum and add to its gains over the course of this week. It may be a good idea for investors to consider adding the Maison Luxe stock to their watch lists at this point in time. It should also be noted that Princess World is a company of long-standing and has maintained a retail presence in Alaska and the Caribbean for more than three decades.
HareshMirpuri, who is the president of the family-owned Princess World Timepieces, noted that everyone at the company was proud of the possibility of showcasing some of the more special timepieces through Maison Luxe. He went on to note that following the agreement of the deal, Princess World considered Maison Luxe as one of the more important strategic partners in its retail ambitions. Anil Idnani, the Chief Executive Officer of Maison Luxe, noted that the move is part of the company’s commitment to continued expansion in the luxury retail space.
Key Quote
President of Princess World Jewelers Haresh Mirpuri commented, “We are proud to showcase some very special pieces sourced by the team at Maison Luxe and consider them to be a key strategic partner and reliable source for luxury timepieces.”
Technical Data
MASN stock is trading below the 20-Day and 50-Day Moving averages of $0.0109 and $0.0218 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0549. The company has a total market capitalization of $861K.
