Business
SFLMaven Kicks Off 2021 Holiday Shopping Season with Huge Week as Sales Top $264k
SFLMaven Kicks Off 2021 Holiday Shopping Season with Huge Week as Sales Top $264k.
About this update from Sflmaven Corp.
[{"type":"text","content":"\n FORT LAUDERDALE, FL, Nov. 02, 2021 (GLOBE NEWSWIRE) -- SFLMaven Corp. (OTC PINK: SFLM), (\"SFLMaven\" or the \"Company\"), a leading provider of high-end luxury goods, is pleased to announce that the Company recorded breakout sales during the final week of October – traditionally considered to be the start of the holiday shopping season – with its famous Thursday Night Auction event delivering over $244k in revenues in one night, and total sales for the week exceeding $264k. “We may already be seeing a bump in our demand from supply chain issues at retail designer jewelers,” noted Joseph Ladin, CEO of SFLMaven. “As we have noted recently, global logistics are playing a huge role in determining outcomes in the high-end luxury goods marketplace right now, and primary jewelers, based on our understanding and analysis, may be having problems meeting roaring customer demand. At the same time, we have no manufacturing process and no supply chain, so we are here, very ready and very willing to capture migrating demand at strong margins.” The Company’s Thursday Night Auction event was a big success, with total sales for the evening exceeding $244k. The feature sale of the evening was a bracelet designed by famed jewelry designer, Andrew Grima, which went for $15,800. Management notes that the Company anticipates the rest of the year will deliver a higher average pace of sales than the preceding months of 2021 based on seasonal factors as well as situational factors involved in supply chain problems currently being faced by primary jewelry dealers. This follows last week’s announcement that SFLMaven’s sales, year to date, are up on a year-over-year basis nearly 34% in 2021. The Company hopes to augment that strong glide path with further material developments in its new Collectibles Marketplace strategy, which focuses on non-fungible tokens (NFTs), baseball cards, coins, comic books, handbags, sneakers, and other collectible memorabilia. Ladin added, “We are looking to become something like the Amazon of the collectibles marketplace over the next half decade. It’s important to remember that we have two decades of success in auctioning unique and rare items. We have amassed over 100k positive reviews in that time for a reason. The expansion from luxury goods to collectib...