Renaissance Global partners with Chinese jewellery retailer Lao Feng Xiang
today Jan 14, 2020
Mumbai-based Jay Gems, a subsidiary of Renaissance Global, has partnered with Chinese jewellery retailer Lao Feng Xiang (LFX) to strengthen its international network.
With this partnership, Renaissance will be launching its ‘Enchanted Disney Fine Jewellery brand in Mainland China. The brand features Disney Princess-inspired engagement rings, earrings, and pendants.
Renaissance is already present in the US market and its entry into the world's second-biggest jewellery market is expected to significantly boost sales of its branded jewellery.
"We are honoured to partner with a retailer that has a sterling reputation and impressive market reach of LFX. The increased distribution for the Enchanted Disney Fine Jewellery brand also represents significant growth for Renaissance's branded jewellery segment," in a statement said Sumit Shah, vice chairman of Renaissance Global Ltd.
"The Enchanted Disney Fine Jewellery brand will now be available to consumers throughout China. This will further increase the geographic diversification of our sales and decrease the importance and the risks associated with any individual market,” he added.
Headquartered in Shanghai province, LFX operates over 3,700 stores worldwide while Jay Gems LLC has an exclusive licensing agreement with Enchanted Disney Fine Jewellery.
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