Shares in the penny stock of Omni Ventures Inc. (OMVE), owners of PRVCY Couture Inc., are finally expanding to where the money is: The Asian Markets. OMVE stock price rose 5.26% to 0.10 on volume of 1,514,543 inthe last trading session, -80.95% below its April 27th high of 0.525. Omni Ventures issued a statement earlier today that it has begun expanding its PRVCY Couture brand to key Asian Markets. This is the biggest move the Company has made to capitalize on the enormous consumer growth in luxury markets happening in Asia currently.
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OMVE Stock Chart
Wednesday Stats:
High: 0.10
Low: 0.075
Volume: 1,514,543
Trades: 129
Avg Trade Size: 11,740
The Asian luxury goods market is expected to grow 65% between 2010 and 2015 with a projected value of $91 Billion by 2020.
In the first move made by the newly appointed CEO of Omni Ventures, Deepak Ramchandani, the fashion industry guru has begun target marketing efforts to segments within the luxury markets in China. The Company plans to launch an e-commerce website by the end of the year in Chinese.
With 300,000 millionaires and climbing, China is on pace to become the world’s 2nd biggest purchaser of luxury goods by 2015. Major luxury names such as Burberry, Armani, PPR, LVMH, Richemont, Polo Ralph Lauren, Hermes, Prada, Bulgari and Christian Dior are fast becoming well-known brands in Asia, and Omni intends to capitalize on the double digit projected growth.
Bottom Line: OMVE is one of those penny stocks that are in accumulation mode right now for long investors who value the patience required with niche-market retail companies. OMVE had a huge run from March to April and is unlikely to repeat it. However, at a dime, this could easily trade north of 0.20 with some positive financial news.
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