Menē Inc. Faces Revenue Dip, Maintains Loyalty

Mene Class B (TSE:MENE) has released an update.

Menē Inc., a 24-karat jewelry brand, reported its 2023 fiscal year results with IFRS Annual Revenue of $23.3 million and a decrease in both revenue and gross profit from the previous year. Despite a challenging year with an operating loss of $1.2 million, the company saw robust customer loyalty with 70% of sales from returning customers and high customer satisfaction. Operational achievements included the repayment of the Goldmoney Inc. loan, new collection launches, and 51 new product designs.

For further insights into TSE:MENE stock, check out TipRanks’ Stock Analysis page.