New World Issue Clarifying Information
TORONTO, ON / ACCESSWIRE / September 19, 2024 / New World Solutions Inc. (CSE:NEWS)(OTC Pink:REGRF)(FSE:RT5) ("New World" or the "Company") at the request of CIRO, the Company would like to provide additional clarification regarding its September …
TORONTO, ON / ACCESSWIRE / September 19, 2024 / New World Solutions Inc. (CSE:NEWS)(OTC Pink:REGRF)(FSE:RT5) ("New World" or the "Company") at the request of CIRO, the Company would like to provide additional clarification regarding its September 18, 2024, press release titled: New World Solutions Enters $31 Billion Global Watch Market With Acquisition of Majority Stake in dialMKT.
In addressing the pre-owned watch market, the Company wishes to clarify that the market is a growing sector expected to reach $29 to $32 billion by 2025, according to a recent report from Polaris Market Research & Consulting Inc. The Company in no way was forecasting or implying its revenue but only wanted to highlight the large global market it is targeting.
Source quote:
"Driven by younger consumers in addition to collectors and cost-conscious shoppers, as well as an increasingly trustworthy and transparent supply by digital marketplaces, the pre-owned watch market is set to become the industry's fastest-growing segment, reaching $29 to $32 billion in sales by 2025. With digital pre-owned marketplaces currently dominating…"
https://www.mckinsey.com/industries/retail/our-insights/state-of-fashi ...
"...In an uncertain world, consumer discretionary spend will be weighted toward trusted categories and brands. Hard luxury goods-jewelry, watches, and leather-will likely be in demand, reflecting their potential investment value in tough economic times… "
https://www.mckinsey.com/industries/retail/our-insights/state-of-fashi ...
The Company included the names of several of several recognizable watch brand names in the press release. The brands are licensed trademarks of their respective owners. The Company did not intend to imply that it has a relationship with these brands. The Company is not an authorized dealer of any watch brand, and does not intend to be an authorized retail dealer in the future. These are popular brands that are driving the growth in this market that the Company plans to focus on when it launches its ecommerce platform which is expected to launch in the next 30 days.
The Company also highlighted several influencers and investors in the press release. The Company did not intend to imply that it has any relationship with these influencers or investors. The Company was highlighting some of the social and demographic trends driving the growth of this market and that certain investors were entering this market.