NEW YORK, October 9, 2020 – — Sun Kissed Industries Inc. (OTC PINK: SKDI) (“Sun Kissed”, “SKDI”), (www.sunkissedindustries.com) a leading provider of high-end luxury goods, is pleased to announce that Joseph Ladin, the CEO of SKDI’s subsidiary SFL Maven, Inc., (“SFL Maven” or “SFL”), (https://bit.ly/34lQgHH) is to become CEO of the Company effective Monday 12th October.
Joe Ladin commented “I’ve joined the company at a really interesting time in its journey. It was clear that the company needed to re-focus on serious revenue-generating business, to divest itself of non-core businesses and to deliver shareholder value; that’s what we have now done. SKDI will report millions in topline revenues this year, the first time in its history. Our ‘Reg A’ expires on Monday and we now have time to focus on a corporate re-brand and a name-change. At this time though, I see no reason to apply to FINRA for a reverse stock split. We still have a very tight public float and a loyal shareholder base. My focus will 100% be on revenue growth for the remainder of 2020.”
The Company announced earlier this week that it had streamlined its operations to drive greater focus on high value, high revenue segments. The centerpiece of this focus is to be the Company’s recently acquired high-end jewelry business, SFL Maven (“SFL Maven” or “SFL”), ( https://bit.ly/34lQgHH) which brought in sales of nearly $11 million in 2019 and over $122 million since 2004.
In a MoneyTV™ interview released today, Joe Ladin outlined not only where the company had come from, but also discussed the future growth plans for the business and went through the nearly $6m the company had written in revenue already in 2020. The interview is available for download from here: https://vimeo.com/466211275
SFL Maven has been a consistent performer in the high-end jewelry space. In 2019, SFL drove revenues of $10.8 million, followed by nearly $4 million in sales during the first half of 2020, and an extremely strong start to the second half of the year, with robust performance in its quarter ended September 30 (updated numbers will be available for release shortly).
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. They have recently pivoted away from emerging markets and are now focused on revenue-generating acquisitions.
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.
SOURCE: Sun Kissed Industries Inc.