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We are on the appearance-out for more jewelry brands in special geographies

Lillie Garza by Lillie Garza
April 23, 2019
in Jewellery
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Mumbai-primarily based Renaissance Global Ltd has positioned itself as a longtime design house and a key supplier to global jewelry outlets. With three acquisitions in the ultimate five years, Renaissance is venturing into new geographies and expanding its product class. The maximum outstanding of those acquisitions is the Enchanted Disney Fine Jewellery which has helped it enter the license jewelry space, says Sumit Shah, Vice Chairman in a communique with BusinessLine. Excerpts.

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What led to the purchase of Jay Gems? What sort of competitive advantages will the purchase add to the corporation’s global commercial enterprise?

The employer’s cognizance is to growth percentage proportion of brands in its global portfolio. Therefore, we are obtaining manufacturers and searching out extra such possibilities in distinct geographies. In line with this strategy, in 2016, RJL entered right into a licensing agreement with Hallmark to launch the Heart of Hallmark jewelry series. Similarly, Jay Gems LLC has a specific licensing agreement with Enchanted Disney Fine Jewellery. The acquisition of Jay Gems changed into in keeping with the business enterprise’s approach to extending the branded jewelry phase. Enchanted Disney Fine Jewellery offers unique collections at essential shops across USA, UK, and Canada. Sales via licensing agreements yield superior product positioning and better margin. The Corporation’s focus is to have more presence globally. After the USA, UK, and Canada, we are able to amplify into new geographies which include China, Japan, Middle East, Russia and India which can be big markets receptive to the Disney logo.

How has the corporation been capable of hold a wholesome debt-to-fairness ratio?

The organization has been extraordinarily conservative about debt in the commercial enterprise. The debt inside the corporation is essentially working capital debt and the employer makes an attempt to lessen the running capital cycle in the business through negotiations with buyers and additionally efficient stock control. The whole borrowing is dollar denominated and therefore, the interest charge in all fairness strong. Even the acquisitions that the corporation has executed over the past years consisting of the latest Jay Gems acquisition have been deliberate thru inner accruals instead of taking debt. With the progressed profitability within the commercial enterprise on a yr-on-year foundation and conservative method to debt, the agency has been able to keep a healthy debt fairness ratio and could keep accomplishing that.

How does the enterprise plan to leverage the fairness of logo Disney in addition?

The Disney brand is predicted to be really worth $ fifty-five million and the Disney princess that’s part of Enchanted emblem is a $three billion emblem worldwide. In the beyond, Jay Gems turned into in large part concentrating on the US market. However, the corporation is planning to make bigger the marketplace into new geographies like China, Japan, Middle East, Russia, and India. The marketplace for Enchanted jewelry is underneath-penetrated and there’s a big opportunity to enlarge this portfolio and grow it to be a $500 million brand inside the subsequent three-4 years.

The gemstones and jewelry producer and exporters in India are going through large demanding situations on elevating capital as banks are tightening lending norms. How has the employer managed to stay self-enough?

After the banking frauds perpetrated via big players of the gemstones and jewelry zone, banks have become extraordinarily cautious. The agency enjoys an amazing recognition amongst its creditors and the credit score limits have no longer been impacted. However, there has been a standard keep off for growing credit score to the arena through the banks. The company has taken this as a possibility to slight the working capital requirement through effective management of debtors and tight stock controls.

Renaissance is likewise planning to mission into Indian home jewelry quarter. What’s the rationale behind the strategic shift?

We are finalizing our strategy for venturing into the Indian market and positioning for the same as the retail jewelry marketplace is massive however challenging for a brand new emblem.

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