Shares of LuxeYard Inc. (PINK: LUXR), a members-only flash sale site for luxury home furnishings, décor and fashion, rose in Tuesday’s trading session. The penny stock of LUXR ended 2.58% higher at $1.59. The stock gained 27.2% in the last three trading sessions.
LuxeYard recently announced that it boosted its global presence with expansion to India. According to CEO Braden Richter, India is one of the fastest growing e-commerce in the world, where rising consumer spending power and demand for luxury goods will combine to help LUXR achieve its revenue goals and business objectives.
LUXR entered into an exclusive licensing deal with Sashi Chimala, an Indian entrepreneur. Under the terms of the agreement, Chimala will establish LuxeYard India.