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LQR HOUSE INC. (NYSE:LQR) LQR House Announces a 214% YOY Revenue Growth in January 2024

Transparency directive : regulatory news

06/02/2024 14:30

MIAMI BEACH, FL / ACCESSWIRE / February 6, 2024 / LQR House Inc. (the "Company" or "LQR House") (NASDAQ:LQR), a niche ecommerce platform specializing in the spirits and beverage industry, proudly announces a 214% Year-Over-Year (YOY) increase in revenue for January 2024 when compared to the same period in 2023. In January 2023, the company reported revenues of $48,748.00, while in January 2024, the figures surged to an impressive $153,275.14.

Traditionally, January poses challenges for the alcohol industry, marked by post-holiday recovery, New Year health resolutions, and the trend of participating in Dry January. Recognizing this industry pattern, LQR House strategically added new non-alcoholic beverage category and expanding its low-volume alcohol beverage category in November-December. The Company believes that this proactive approach allowed LQR House to navigate the traditionally slower month while meeting the diverse needs of consumers.

Sean Dollinger, CEO of LQR HOUSE, expressed his thoughts on the achievement: "At LQR House, we've promised to be there for all of life's celebrations of our customers - the good, the bad, and everything in between. By ramping up our non-alcoholic category, we're staying true to that commitment, trying to meet our consumers where they are at any given moment throughout the year. We're incredibly proud of our team and excited to continue our efforts in delivering value to both our shareholders and customers."

LQR House's main goal is to provide a comprehensive range of products to meet evolving consumer preferences.

About LQR House Inc.

LQR House intends to become a prominent force in the wine and spirits e-commerce sector, epitomized by its flagship alcohol marketplace, cwspirits.com. This platform seamlessly delivers a diverse range of emerging, premium, and luxury spirits, wines, and champagnes from esteemed retail partners like Country Wine & Spirits. Functioning as a technology-driven hub, LQR House utilizes software, data analytics, and artificial intelligence to elevate the consumer experience. CWSpirits.com stands out as the go-to destination for modern, convenience-oriented shoppers, providing a curated selection of alcohol products delivered to homes across the United States. Beyond its role as an e-commerce leader, LQR House is a marketing agency with a specialized focus on the alcohol industry. The company measures campaign success by directly correlating it with sales on CWSpirits.com, demonstrating a proven return on investment. Backed by an influential network of over 550 figures in the alcohol space, LQR House strategically drives traffic to CWSpirits.com, enhancing brand visibility. LQR House intends to disrupt the traditional landscape of the alcohol industry, driven by its dedication to providing an unparalleled online purchasing experience and delivering tailored marketing solutions.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Shareholders can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "potential," "continue" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations that arise after the date hereof, except as may be required by law. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions, and other factors discussed in the "Risk Factors" section of the registration statements on Form S-1 filed with the SEC and other filings with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statements on Form S-1 and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov.

Investor and Media Contact:
info@lqrhouse.com

SOURCE: LQR House Inc.



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