Jewellery has become one of the fastest-growing divisions in the luxury sector.
COVID-19 had a low impact on the online jewelry market. The market growth in 2021 is likely to increase compared to the market growth in 2020. Consumers are increasingly comfortable shopping online for jewellery.
Recent reports shows that the jewelry industry overall, is projected to substantially grow in the next several years. Online retailers stocks have gone wild since the start of the year.
SKDI is one of the names that has gained interest during the late months of 2020, as investors started to pick up shares based on the increasing daily average volume.
Sometimes stocks trend higher on improving sentiment among investors for a specific industry. We’ve discussed the company numerous times in the past and watched it climb from 0.0025 last year to almost a penny last month.
Sun Kissed Industries Inc. (OTC: SKDI), who recently decided to change its corporate name to SFLMaven; A beyond well-established growing high-end online jewelry retailer with strong revenues over the past 18 years, has been in business since 2003, driving more than $130 million in sales since inception. Well known for its “Famous Thursday Night Auction” events, the Company is currently a top-rated seller on Ebay and has earned over 98,000 positive feedbacks from customers on its Ebay sales platform.
Yesterday, the company announce another strong result in its latest “Famous Thursday Night Auction” event.
For the week ended Thursday, March 4th, 2021, the Company booked a total of $223k in gross weekly sales, including c.$196k from its Thursday Night Auction event alone.
Thursday’s auction was highlighted by the sale of an 18k Art Deco 19.97ct Diamond Ruby Filigree bracelet, which closed for more than $6,700, and an 18k 8.06ct VS/F diamond Eternity Band, which closed for $4,660.
“This was another impressive auction highlighted by a number of truly spectacular pieces, ultimately ending up in the hands of impassioned bidders – an exciting evening event that resulted in strong sales,” noted Joseph Ladin, CEO of SFLMaven. “So far, 2021 has started with a bang for SFLMaven. We have generated a lot of buzz around our auction events, and we look forward to another strong show later this week.”
The Company will update shareholders once the process is complete with both the State of Florida and with FINRA, the financial regulator. The name change is expected to take up to 8 weeks to complete this process.
Sun Kissed has a strong business model, and with the company focusing on its recently acquired online jewelry store, we could see a lot more growth in the years to come. Patient Investors Can Prosper in The Long Term by initiating Positions in jewelry stocks such as Sun Kissed Industries Inc. (OTC: SKDI).