The luxury sector appeals to a global consumer: 20 to 30 percent of industry revenues are generated by consumers making luxury purchases outside their home countries. In 2018, Chinese consumers took more than 150 million trips abroad; we estimate that purchases outside the mainland accounted for more than half of China’s luxury spending that year. Luxury Retail Stocks have been on our lists for quite some time.
SFLMaven Corp (OTC PINK:SFLM)’s CEO Joseph Ladin, launched the company 18 years ago and has a unique viewpoint on how to build a successful ecommerce retail business. He has focused on eBay as his principal sales channel and throughout the years has maintained a focus on putting the customer first. The store just achieved a significant milestone, surpassing 100,000 positive feedbacks. The company sells 200+ pieces of jewelry in a no-reserve auction every week. “In July of 2021, we branched our reach further and now can also be found on 1stDibs. Our ideal customer base are people who enjoy luxury items but are savvy shoppers. We like to think of ourselves as the year-round Cyber Monday of fine jewelry. Customers are getting exactly what they are looking for but at a market value price point.” stated Joseph CEO SFLMaven.
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