Renaissance Global surges on launching new fashion Jewellery brand ‘Renaei’
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Renaissance Global is currently trading at Rs. 173.10, up by 6.10 points or 3.65% from its previous closing of Rs. 167.00 on the BSE.
The scrip opened at Rs. 164.80 and has touched a high and low of Rs. 176.25 and Rs. 164.75 respectively. So far 29810 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 188.50 on 21-Oct-2024 and a 52 week low of Rs. 87.70 on 07-Aug-2024.
Last one week high and low of the scrip stood at Rs. 176.25 and Rs. 156.70 respectively. The current market cap of the company is Rs. 1665.95 crore.
The promoters holding in the company stood at 65.59%, while Institutions and Non-Institutions held 0.98% and 33.43% respectively.
Renaissance Global (RGL) has launched Renaei, a new fashion Jewellery brand set to debut on Amazon in the United States. Positioned strategically within the fashion jewelry space, Renaei will cater to the high-growth demographic of Millennial and Gen Z consumers, targeting young Americans aged 18 to 30. Renaei’s debut on Amazon taps into the burgeoning U.S. costume Jewellery market, which is forecasted to reach over $47 billion by 2027. Within this sector, the demand for affordable, quality fashion Jewellery among Millennial and Gen Z customers is particularly robust.
The company’s launch of Renaei aligns with its strategic vision to diversify and capitalize on emerging market trends. By positioning Renaei on Amazon, Renaissance gains access to over 168 million USA amazon prime shoppers, increasing brand visibility and reducing market-entry barriers.
Renaissance Global has been creating incredible jewellery designs for marquee clients across the globe. Renaissance Global is a highly differentiated luxury lifestyle products company. It is licensees for two global brands - ‘Hallmark’ and ‘Disney’.
