Reign Sapphire Achieves 20% Increase in Gross Margin from Operational Efficiencies
Forecasts >$2 mil in 2017 revenue, $5 mil in 2018
(firmenpresse) - BEVERLY HILLS, CA -- (Marketwired) -- 06/21/17 -- , (OTCQB: RGNP) ("Reign" or the "Company"), a direct-to-consumer, branded and custom jewelry company wanted to highlight some important achievements subsequent to its and provide guidance on 2017 and 2018 revenue.
While the Company has resolved the supply chain issues and delivery delays that resulted in a decline in year over year (YoY) annual revenue from roughly $3 million to $2 million, profitability has improved in Q1 of 2017 YoY almost 20% from 51.8% to 71.5%.
Improved profitability is a primary objective of management in its strategy to acquire niche brands and grow cash flow through improved marketing and operational efficiencies.
Now that its acquisitions from the end of 2016 have been integrated and supply chain issues resolved, the company anticipates accelerating revenue growth for the remainder of 2017 and for 2018, with pro forma projections of $2 million in 2017 and $5 million in 2018.
The company intends to further streamline and automate operations enabling 250% growth YoY without increasing fixed costs.
Reign''s strategy is to use one in-house fulfillment, customer service and marketing apparatus for numerous, distinct brands.
"This increase of profitability is exactly what we intend to achieve when we acquire niche brands and apply scalable marketing and infrastructure," comments Joseph Segelman, Reign CEO. "It''s a demonstration of the effectiveness of our business model and we plan to double down on its success with further, accretive acquisitions in our quest to rapidly grow cash flow."
About Reign Sapphire Corporation:
Reign Sapphire (OTCQB: RGNP) is a Beverly Hills-based, D2C branded and custom jewelry company with 3 niche brands: : ethically produced, millennial targeted sapphire jewelry, : custom jewelry, inscribed with location coordinates commemorating life''s special moments, and : classic customized jewelry. .
Forward Looking Statements
This press release includes "forward-looking statements" within the meaning of the U.S. federal securities laws, which statements may include information regarding the plans, intentions, expectations, future financial performance, or future operating performance of Reign Sapphire Corporation ("Reign" or the "Company"). Forward-looking statements are based on the expectations, estimates, or projections of the Company''s management as of the date of this press release. Although Reign''s management believes these expectations, estimates, or projections to be reasonable as of the date of this presentation, forward-looking statements are inherently subject to significant business risks, economic and competitive uncertainties, or other contingencies, which could cause the Company''s actual results or performance to differ materially from what may be expressed or implied in the forward-looking statements. Important factors that could cause Reign''s actual results or performance to differ materially from the forward-looking statements include those set forth in the "Risk Factors" sections in the Company''s filings with the Securities and Exchange Commission, including the risks set forth in the company''s Annual Report on Form 10-K for the year ended December 31, 2016, which is available for viewing on the SEC''s EDGAR website. These forward-looking statements speak only as of the date of this press release and, except as required by law, Reign specifically disclaims any obligation to update these forward-looking statements, even if new information becomes available in the future.
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Datum: 21.06.2017 - 05:32 Uhr
Sprache: Deutsch
News-ID 1510239
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Fashion
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