LOS ANGELES, CA , April 30, 2018 (GLOBE NEWSWIRE) --
Reign Sapphire Corp. (OTCQB: RGNP) ("Reign" or the "Company"), a direct-to-consumer, custom and branded jewelry company, is pleased to provide a shareholder update on 2018 Growth Initiatives.
Overview
In 2017, management focused primarily on integrating its internal fulfillment, customer service and marketing system, and on streamlining operations. As reported in our recently filed 10K, gross margin increased from 47.5% to 60.1%. In 2018, management continues to focus on improving gross margins, expanding into new markets and introducing new products.
In Q1 2018, repeat customer purchases increased from 24.02% in Q1 2017 to 38.94%, improving the lifetime value of our customers is key to our growth strategy.
We intend to launch our completely revamped online shopping experience on May 31, 2018. Our new website which will be accessible in English and Spanish is built on a highly customizable and scalable Shopify Plus platform. Shopify Plus platform, will enable us to regionalize and customize our shopping experience in 10 regions and in multiple languages. Our current key markets are the US, Canada, Australia, UAE and Mexico.
Strategic Marketing Optimization
In Q1 2018, we continued refining our marketing strategies to accelerate sales growth and restructure our sales strategy to improve profitability. Thus far in 2018, revenues are starting to resume growth and gross margins continue to improve year-over-year. We believe this is an indication of traction from the modifications we have made to our marketing strategy as well as new sales initiatives.
Summary
Initiatives in Q1, are starting to take effect, as demonstrated by a number of improving sales and marketing metrics.
Due to the effects of these and other planned initiatives, we anticipate continued improvement in sales and profitability in 2018.
We welcome inquiries from shareholders and members of the investment community. Info@ReignSC.com or (213) 457-3772.
About Reign Sapphire Corp.
Reign Brands operates through four key divisions: Reign Sapphires, which offers ethically produced, millennial-targeted sapphire jewelry; Coordinates Collection, a provider of custom jewelry inscribed with location coordinates to commemorate life’s special moments; and Le Bloc, which offers classic customized jewelry and the athleisure jewelry brand, ION Collection.
For more information visit www.ReignSC.com
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, 2017, 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.