SFLMaven Provides Unaudited 2022 Year-to-Date Performance Metrics as Company Tracks Toward Record Growth in Core Vintage Jewelry Business
Sales up 26-30%, per-item pricing up 22%, and repeat buyers up 14% year over year
FORT LAUDERDALE, FL, March 17, 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 provide current and prospective investors with updated performance data for the year to date in 2022.
Note: All data points discussed below are preliminary unaudited information, subject to change in future Company filings.
“The second half of last year showed several dynamics that suggested a spur toward accelerating growth in our vintage jewelry business, but 2022 has dramatically exceeded our expectations thus far,” stated Joseph Ladin, CEO of SFLMaven. “At this point, we still have three Famous Thursday Night Auctions left in the quarter, and we have already matched what we did last quarter. At this pace, we could be tracking toward a new threshold of success even without including projections related to the additional value we stand to potentially drive as our metaverse digital store goes live this year.”
YTD Unaudited Performance Highlights through March 16, 2022
Total sales of more than $2.2 million, up 26% year over year
Auction Sales of more than $1.92 million, up 30% year over year
Average Sales Price of $954 per item, up over 22% year over year
Nearly 2,300 individual products sold
Repeat Buyers up 14% year over year
Management notes that the Company is tracking toward potentially exceeding $13 million in total sales this year from its core vintage jewelry business through its eBay storefront.
Positive trends include rising average sales price per item, more total sales, and a marked increase in repeat buyers, which suggests a higher overall sales growth potential independent of market share.
Ladin added, “The fundamental picture looks great for the core business. We continue to benefit from our position relative to the traditional jewelry industry – we have no supply chain issues and we aren’t seeing a margin squeeze driven by rising raw materials pricing because we don’t manufacture our products. But most importantly, word is spreading. Web traffic is up substantially. More people know about SFLMaven, and more of our past customers are coming back, which is a terrific signal about our value proposition and our ability to deliver customer satisfaction.”
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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 over $140 million in sales since inception, earning more than 100k positive reviews along the way.
For more information, please visit the Company's website at www.sflmaven.com.
FORWARD-LOOKING STATEMENTS:
This press release may contain forward-looking statements, including information about management's view of SFLMaven Corp.'s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words 'believes,' 'expects,' 'intends,' 'plans,' 'anticipates,' or 'may,' and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of SFLMaven, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on SFLMaven's future results. The forward-looking statements included in this press release are made only as of the date hereof. SFLMaven cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, SFLMaven undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by SFLMaven.
SOURCE: SFLMaven Corp.
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