This smallcap jewellery multibagger plunges over 5% despite Netflix deal

Shares of Renaissance Global plunged by over 5% on Wednesday to the day’s low price of Rs 114 even after the firm inked a strategic licensing agreement with Netflix. The stock on Tuesday ended at Rs 120.3 per share on the BSE.

In accordance with the terms of the agreement, Renaissance and Netflix will collaborate to develop an exciting line of branded jewellery that will capitalise on the popularity of some of Netflix’s most renowned shows. This unique collection will be marketed to consumers in the US and Canada.

The pact with Netflix further aligns with Renaissance’s ambition to accelerate growth of its branded jewellery business and is in line with the management’s vision to create a high performing portfolio of globally loved licenced brands.

The agreement will boost the company’s range of licenced brands that already comprises Enchanted Disney Fine Jewellery, Hallmark, NFL, Star Wars and Disney Treasures.

“The Netflix jewellery collection will include distinct pieces designed around intellectual property from some highly popular Netflix shows such as Stranger Things, Squid Games, The Witcher and The Queen’s Gambit. The product portfolio encompasses rings, earrings, bracelets and pendants for all genders, with a special focus towards the youth,” said the release by the company.

Renaissance Global is a multibagger stock with 3-year returns at over 136%. A luxury lifestyle products company, it creates unique jewellery designs for its marquee customers across the globe.