Maison Solutions Inc (NASDAQ: MSS) is a specialty grocery retail company that operates Asian-American supermarkets in Southern California. Revenue comes entirely from transactional in-store sales of groceries, with performance obligations satisfied at the point of sale under ASC Topic 606. The company targets Asian-American consumers and is pursuing a center-store and satellite-store expansion model, with satellite locations branded as Maison Small-Size Markets (MSSMs) focused on ready-to-eat and ready-to-cook offerings. MSS holds a 10% equity interest in a grocery store in Alhambra, California, with plans to acquire the remaining 90% and convert it to its first satellite store. The company has a collaboration agreement with JD US, a U.S. affiliate of JD.com, covering store management system upgrades, inventory sourcing, and co-branding. Leadership includes founder and CEO John Xu and CFO Alexandria M. Lopez, who has served in the role since 2019. As disclosed in the FY2025 10-K filed August 14, 2025, the company carries debt that limits financial flexibility and has not indicated dividend payments.

Revenue model

Transactional retail sales of groceries at the point of sale, recorded net of discounts. No subscription or membership fee component disclosed in the filing.

Products and services

Fresh vegetables (daily delivery, sold out on a three-to-five day cycle), seasonal fruits, meat, seafood (cold chain and vacuum-sealed), ready-to-eat hot foods under the house brand 'Chili Point Land', ready-to-cook groceries including frozen food and pre-cut meats and vegetables, and dry goods. Group Buy single-day promotional discounts are used to drive volume on targeted products.

Customers and end markets

Asian-American consumers in Southern California. The Alhambra, California store targets a neighborhood that is approximately 52% Asian-American (per 2020 U.S. Census Bureau), with a core demographic of young students and professionals ages 25 to 44 with annual incomes between $36,000 and $120,000.

Value-chain role

Specialty grocery retailer. Operates physical supermarket stores, manages procurement from suppliers and distributors, performs three-stage daily quality control at store level, and uses cold chain logistics for perishables. Exploring multi-channel retail via a JD.com-designed mobile app and cloud-based back-end systems.

Geographic exposure

Southern California, United States. Stores referenced in the filing are located in the greater Los Angeles area, including Alhambra, California.

Source: SEC 10-K, filed 2025-08-14

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