Renaissance Global partners with leading Chinese jewellery retailer

On January 14, 2020 (Tuesday), Jay Gems Incorporation, a subsidiary of Renaissance Global signed an agreement with one of the largest jewellery retailer, Lao Feng Xiang, to launch enchanted Disney fine jewellery in retail stores of mainland China.

The launch in China, which is the second-biggest jewellery market in the world, represents a significant milestone for Renaissance Global's strategy of geographic diversification. In FY11, 85 per cent of the company’s revenue came from the market in United States. By FY19, the revenue from the US market was reduced to 57 per cent.

According to an IBIS World Industry Research, the Chinese jewellery market is estimated to be worth US$ 118 billion and has grown at a compounded annual growth rate of 6.7 per cent from 2014 to 2019. The increased distribution from the Enchanted Disney Fine Jewelry brand represents a significant growth for Renaissance’s branded jewellery segment.

Renaissance Global is engaged in the business of designing, manufacturing and sale of various types of jewellery. It offers gold, silver, platinum jewellery, studded with diamonds and other precious & semi-precious stones.

At 12 pm on Monday, the stock is trading at Rs 345.30, down by 1.27 per cent or Rs 4.45 per share. The 52-week high is recorded at Rs 353 and the 52-week low is recorded at Rs 191.45.