Sun
Kissed's SFL Maven Sees Strong
Revenue Growth to Rise
Above Challenging Year
NEW YORK, NY --
December 15, 2020 -- InvestorsHub NewsWire
-- Sun
Kissed Industries Inc. (OTC
PINK: SKDI) ("Sun Kissed", "SKDI", or the
"Company"), a leading provider of high-end
luxury goods, is pleased to update current and
prospective shareholders as the Company continues to see strong
topline performance from its SFL Mavin subsidiary
("SFL Maven" or
"SFL"), a high-end jewelry company that brought in sales of nearly $11
million in 2019 and over $122 million since 2004
on
a proven track
record featuring strong revenues over seventeen
years.
"2020 has been
stormy weather from start to finish for the high-end market, but
the light at the end of the tunnel is in view now as multiple
strong vaccines get ready to roll out," commented Joseph
Ladin, Sun
Kissed CEO.
"All in all, we have weathered the storm remarkably well, with
accelerating growth over the past two quarters and into the end of
the year, maintaining our long-term trajectory with an eye toward
breakout performance in 2021."
Management notes
that the Company posted very strong Q1 data, pulling in over
$2.5 million. The initial imposition of the
pandemic in March impacted results, leading to Q2 sales of $1.2 million.
However, the
Company performed extremely well in Q3, ramping revenues to
$1.8 million (+53% q/q), and Q4 is on pace, accounting for typical
seasonal effects, to post a rapid growth pace when the books are
closed.
October and
November sales already add up to over $1.4 million. And, due to
holiday shopping trends, December is often a particularly strong
month for the Company, suggesting that Q4 is poised to
produce robust performance metrics to close
out the year.
Ladin added, "We
have been able to gain access to inventory holdings at
really great
pricing levels and
we have maintained strong revenue numbers across most quarters
despite the unique
challenges served up this year. That puts us in what we believe to
be a very
strong position as we approach a more normal macro context around
the next corner."
About Sun Kissed
Industries, Inc.
Sun Kissed
Industries Inc. (OTC
PINK: SKDI)
is
a provider of
high-end luxury goods to discerning clientele around the globe.
The company has recently pivoted away from
emerging markets and is now focused on revenue
generating acquisitions.
FORWARD-LOOKING
STATEMENTS:
This press release
may contain forward-looking statements, including information about
management's view of Sun Kissed Industries Inc.'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 Sun Kissed, 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 Sun Kissed's future results. The
forward-looking statements included in this press release are made
only as of the date hereof. Sun Kissed cannot guarantee future
results, levels of activity, performance or achievements. Accordingly,
you should not place undue reliance on these forward-looking
statements. Finally, Sun Kissed 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 Sun
Kissed.
Contact:
info@sflmaven.com
SOURCE: Sun Kissed Industries
Inc.