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Luminar Media Group, Inc. reports developments tied to its Fortun-branded revenue-based financing business for small and medium-sized businesses across the United States. Through Fortun Advance, Fortun Funding, Fortun Online and related affiliates, the company provides capital alternatives supported by a technology-enabled platform that evaluates ACH activity, sales data and other financial indicators.
Recurring news themes include operating and financial results, gross funding volume, cash collections, portfolio quality, capital-capacity initiatives, corporate governance updates and public-company initiatives. Company updates also describe Fortun's focus on underserved entrepreneurs, including Latino and minority business communities.
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Luminar Media Group, Inc. (OTC PINK: LRGR) announced that its subsidiary, Royale de Monte Carlo®, has launched an AI-powered store locator app aimed at enhancing sales and revenue. CEO Robert Rico expressed optimism about the technology, which allows customers to easily find product locations and receive notifications about promotions. This initiative supports Royale de Monte Carlo's marketing strategy by utilizing AI for data collection and customer insights, improving operational efficiency. With plans to expand distribution to over 40,000 liquor stores nationwide, the company has successfully secured over 100 retailers in South Florida and aims to grow by adding 500 more. Future expansions are being planned in key markets like New York City. This new application provides real-time data for consumers and serves as a tool for distributors to increase sales.
Luminor Media Group (OTC PINK: LRGR) announced on March 28, 2023, that its subsidiary Royale de Monte Carlo® is negotiating with major Wine & Spirits distributors in key US markets. The company aims to enhance its distribution network before full product launch, focusing initially on New York and Florida. The vodka market, valued at US$ 44.9 billion in 2021, is expected to grow at 8.94% annually, potentially reaching US$ 90 billion by the end of the decade. CEO Robert Rico emphasized the importance of a robust distribution strategy for success in the ultra-premium spirits sector.
Luminar Media Group's subsidiary, Royale de Monte Carlo, has partnered with Grapevine Distributors to enhance its distribution across New York City. This agreement targets five boroughs: Manhattan, Brooklyn, Long Island, Queens, and The Bronx, tapping into a lucrative market where vodka alone accounted for 39% of distilled spirits sales in New York with over 6.3 million cases consumed in 2021. The global vodka market is projected to grow by over 36%, increasing from $41.25 billion in 2021 to $56.33 billion by 2025. Royale de Monte Carlo has seen liquor store sales double in January 2023 compared to the prior year, indicating strong market presence and growth potential.