NEW YORK, December 15, 2020 – — 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.
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.