Menē Inc. (TSX-V:MENE) (US:MENEF) (“Menē” or the “Company”), an online 24 karat jewelry brand, today announced preliminary Key Performance Indicators (“KPIs”) for the fiscal year ended December 31, 2020. All financial figures herein are unaudited, and the Company intends to report its audited 2020 fiscal year-end financial results in April 2021. All amounts expressed herein reflect Canadian dollars unless otherwise noted.

FOURTH QUARTER FINANCIAL HIGHLIGHTS:

  • Record Revenue of $7.3 million, an increase of 58% Year-over-Year (“YoY”).
  • Sold 8,453 Units of Jewelry through 5,474 Customer Orders during the quarter, an increase of 17% and 20% respectively YoY.
  • Average Order Value of $1,559, an increase of 30% YoY.

2020 FISCAL YEAR FINANCIAL HIGHLIGHTS:

  • Record Annual Revenue of $21.3 million in Fiscal Year 2020, an increase of 64% YoY.
  • Sold 25,967 Units of Jewelry through 15,885 Customer Orders during the fiscal year.
  • Average Order Value of $1,530, an increase of 63% YoY.

OPERATIONAL HIGHLIGHTS IN 2020:

  • Introduced 180 new products over the course of 2020, including 50 new designs in Q4.
  • Launched four new product collections: Sundials, Saints, Zodiacs and Rope.
  • Sales to Returning Customers attributed to 69% of total sales in 2020, compared to 61% in 2019.
  • Cumulative units of jewelry sold reached 72,900 as of year-end.
  • Outstanding Customer Order Waitlist of approximately $4.3 million as of December 31, 2020.
  • Featured in ELLE Magazine, Vogue Arabia, and ELLE France.
  • Registered nearly 20,000 independent customer reviews on mene.com/reviews.
  • Unveiled “Menē Around the World”, a web-based tool that transparently illustrates the growth of the Menē community across the globe. Menē has sold to more than 60 countries, including to customers in every Canadian province and U.S. state.
Preliminary Key Performance
Indicators
FY 2020 FY 2019
Total Q4  Q3 Q2 Q1 Total Q4 Q3 Q2 Q1
Revenue (CAD) 2

21,360,553

7,341,201

5,423,320

3,439,038

5,156,994

13,062,408

4,653,601

3,218,281

2,456,930

2,733,596

Customer orders

15,885

5,474

3,464

2,790

4,157

17,150

4,548

2,998

5,167

4,437

Units of jewelry sold

25,967

8,453

5,958

4,915

6,641

27,754

7,225

5,164

7,183

8,182

Jewelry weight sold (total kg)

239

75

56

39

69

195

65

44

42

43

(1) The Company’s financial statements for fiscal year 2019 are audited by an external assurance firm. The figures for fiscal year 2020 are unaudited. The figures for Q4 2020 are preliminary.

STATEMENT FROM FOUNDER & CEO ROY SEBAG:

As we have anticipated, Menē finished fiscal 2020 on a strong note. We felt this impressive performance warranted an update to our shareholders given the next reporting date is months away. Please keep in mind these are flash numbers. While we are confident these figures are conservatively accurate, they may still be subject to revision. Menē continues to solidify its position as a sustainable jewelry business with a growing network effect. The company is now focused on 2021 with the next important milestone being the launch of the pre-sale system. I would like to thank our customers and team-members for making our third year in business a fantastic one and we hope to deliver another solid year of growth for our stakeholders in 2021.

About Menē Inc.

Menē crafts pure 24 karat gold and platinum jewelry that is transparently sold by gram weight. Through mene.com, customers may buy jewelry, monitor the value of their collection over time, and sell or exchange their pieces by gram weight at prevailing market prices. Menē was founded by Roy Sebag and Diana Widmaier-Picasso with a mission to restore the relationship between jewelry and savings. Menē empowers consumers by marrying innovative technology, timeless design, and pure precious metals to create pieces which endure as a store of value.

For more information about Menē, visit mene.com.

Forward-Looking Statements

This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws that are based on expectations, estimates and projections as at the date of this news release. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information.

This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others: confirmation of FY2020 financial information upon completion of the audit of these financial statements; an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 and other infectious diseases presenting as major health issues on the price of precious metals, capital market conditions, restriction on labour and international travel and supply chains; failure to comply with environmental and health and safety laws and regulations; operating or technical difficulties in connection with the manufacture, sale and distribution of jewelry; actual audited results differing from reported unaudited results; global economic climate; dilution of the Company’s shares; the Company’s limited operating history; future capital needs and uncertainty of raising capital; the competitive nature of the jewelry industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the effects of product development and need for continued technology and manufacturing change; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; theft and risk of physical harm to personnel; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; and volatile securities markets impacting security pricing unrelated to operating performance. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.