Business
Clikia Corp. Announces Luxury Goods Distribution Deal with AK and USVI Duty-Free Outlets, Initial $300k+ in Related Sales
Clikia Corp. Announces Luxury Goods Distribution Deal with AK and USVI Duty-Free Outlets, Initial $300k+ in Related Sales.
About this update from Maison Luxe Inc.
[{"type":"text","content":"\n FORT LEE, NJ, July 21, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Clikia Corp. (OTC:CLKA) (“Clikia” or the “Company”), an emerging leader in the global custom luxury goods marketplace, is pleased to update current and prospective shareholders on the Company’s progress as a supplier to the Duty-Free luxury goods marketplace. The Company’s wholly owned subsidiary, Maison Luxe, has forged relationships with four (4) individual duty-free sellers, which have already made aggregate purchases in excess of $300,000 in custom luxury timepieces from the Company. These are ongoing distribution relationships. The sellers are located in duty-free ports in Alaska, the US Virgin Islands, and Colorado. The Company is currently in talks to expand both in terms of volume of timepieces and in product category, to include fine jewelry. Management believes the establishment of additional funding will allow the Company to expand its own inventory and widen margins through volume sourcing, where possible. This will open up access to additional duty-free sellers in ports where the Company has already established relationships and a reputation for credibility, quality, and reliability. “The idea is to grow a brand that sources retail markets with responsibly sourced and priced watches,” remarked Anil Idnani, CEO of Clikia and Founder of Maison Luxe. “That’s typically nearly impossible to find. This is now more the case than ever due to a supply shock as factories shut down or halt production of luxury goods. However, demand hasn’t dropped at all this year despite the health crisis and resulting economic turbulence. The result is rising prices on inventory we have in-house.” According to Statista, in 2018, the global duty-free and travel retail sales market did approximately $76 billion in total sales. That number is expected to grow to more than $125 billion by 2023. As discussed above, the Company has already booked over $300,000 in sales from these relationships, which represents just a small fraction of the Company’s overall sales so far in 2020. But management anticipates continued and growing orders and sales through this network of relationships, as well as the establishment of additional distribution relationships, during the second half of the year. About Clikia C...