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Menē Inc. sells pure 24 karat gold and platinum jewelry through an online brand model that prices pieces transparently by gram weight. Company news centers on IFRS financial results, non-IFRS adjusted revenue measures, order volume, average order value, customer acquisition, product-design introductions, and the effect of precious-metal prices on reported sales.
Updates also cover Menē's operating model, including distribution costs, inventory management, promotions, digital marketing, customer service, made-to-order product collaborations, and governance changes such as finance leadership appointments.
Menē Inc. (TSX-V:MENE) (US:MENEF) reported record preliminary Key Performance Indicators for the fiscal year ended December 31, 2021. Fourth-quarter IFRS Revenue was $8.5 million, marking a 20% year-over-year increase. Annual IFRS Revenue reached $26.8 million, up 27%, with a Gross Profit of $6.5 million. The Company achieved its first yearly profit, demonstrating operational resilience during the pandemic. Significant initiatives included the launch of new products and a pre-order system, setting the foundation for future growth and European market expansion.
Menē Inc. (TSX-V:MENE) announced the resignation of independent director Tommaso Chiabra, effective immediately, and welcomed Andres Finkielsztain as his replacement. Finkielsztain brings extensive experience in capital markets and governance, and he is expected to enhance Menē's strategic position, particularly in Latin America. Additionally, he was granted stock options for 500,000 shares at CAD$0.60, valid for five years. The transition aims to bolster Menē's board with fresh insights to navigate the jewelry market.
Menē Inc. (US:MENEF) announced its Q3 2021 financial results, highlighting an IFRS revenue of $5.3 million (down 2% YoY) and Non-IFRS adjusted revenue of $6.5 million (up 5% YoY). The company reported a gross profit of $1.2 million (down 21% YoY) and a net loss of $0.3 million, a 29% decrease YoY. Customer orders rose by 20%, while inventory increased by 22% QoQ. Cumulative jewelry sales reached 94,489 units, indicating strong demand ahead of the holiday season.