Sales up 35%, Inventory up 180%, Gross Profits rise $2.2 million, Repeat Buyers up 20%
FORT LAUDERDALE, FL, April 1, 2022 –– McapMediaWire — 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 year
- Ending Inventory of $1.12 million, up 184% year over year
- Gross Profit of $1.4 million, up over $2.2 million year over year
- Net Income of ($301k), up over $4.1 million year over year
- Total Cash on Hand of $265k, up over 5,000% year over year
- Total Buyers up 15% year over year
- Repeat 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.”
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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.
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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