Business
SFLMaven Provides 2021 Annual Performance Metrics Following Breakout Year
SFLMaven Provides 2021 Annual Performance Metrics Following Breakout Year.
About this update from Sflmaven Corp.
[{"type":"text","content":"\n FORT LAUDERDALE, FL, April 01, 2022 (GLOBE NEWSWIRE) -- SFLMaven Corp. (OTC Pink: SFLM), (\"SFLMaven\" or the \"Company\") (www.sflmaven.com), a leading provider of high-end luxury goods, is pleased to announce the filing of the Company’s 2021 Annual Report, highlighting SFLMaven’s strong growth in every major metric, including Sales, Gross Profitability, Inventory Levels, Cash on Hand, Total Customers, Repeat Customers, and Net Income. 2021 Performance Highlights Total sales of more than $10 million, up 35% year over yearEnding Inventory of $1.12 million, up 184% year over yearGross Profit of $1.4 million, up over $2.2 million year over yearNet Income of ($301k), up over $4.1 million year over yearTotal Cash on Hand of $265k, up over 5,000% year over yearTotal Buyers up 15% year over yearRepeat Buyers up 20% year over year Management notes that the Company saw strong growth across key metrics reflecting better execution as well as an improving macro environment. The Company also benefited during the second half of the year from a competitive advantage over other jewelry and luxury goods sellers due to a lack of dependence upon a global supply chain and manufacturing foundation. The Company is already on pace for even stronger growth in 2022, which may be further augmented by the implementation and launch of SFLMaven’s metaverse strategy as it lays a foundation to become the first native dealership of high-end vintage digital jewelry NFT items for avatar use in the metaverse. “2021 was a breakout year for the Company, even though it is already being sharply outpaced by our performance thus far in 2022,” noted Joseph Ladin, CEO of SFLMaven. “We saw tremendous gains in every major metric and achieved gross profitability through improved efficiency, better product sourcing, increased web presence and traffic, and more repeat customers. We also ended the year with a much bigger stockpile of cash and product inventory, laying a foundation for the explosive growth we have seen so far in 2022.” Follow SFLMaven on social media: Twitter: @sflmaven Instagram: sflmaven About SFLMaven SFLMaven Corp. (OTC Pink: SFLM) is a premium provider of high-end luxury goods to a global base of discerning patrons. Famous for its Thursday Night Auction events on its top-rated eBay store, SFLMaven has driven ov...