Renaissance Global Ltd's Q3 & 9M FY23 Direct-to-Consumer Business Update

Renaissance Global Limited (Renaissance) a global branded jewellery player, has shared the quarterly update on its direct-to-consumer (D2C) business for the quarter ended December 31st, 2022.

During Q3 FY23, our direct-to-consumer business posted revenues of ₹88.2 crores compared to ₹48.9 crores in Q3 FY22, registering a growth of 80%. For 9MFY23, the direct to consumer business revenue was up by 83% to ₹172.8 crores as compared to ₹94.3 Crores in 9MFY22. Based on our estimates of a 9M contribution to annual sales, our annual revenue run rate is at ₹225 crores in 9M FY23 vs. actual FY22 revenues of ₹123.8 crores. The annual revenue run rate for FY23 has improved to ₹225 crores from ₹210 crores reported in Q2 & H1 FY23, further improving our 2-year D2C revenue CAGR to 86%.

Source : Equity Bulls

Keywords

RenaissanceGlobal BusinessUpdate Q3FY23 9MFY23 D2CBusiness