Gold price increase impact on B2B demand
Rising gold prices may dampen consumer demand in the B2B segment, though impact is not yet visible due to lag in price pass-through.
RENAISSANCEGLOBAL / bear-case history
Track the concerns that keep returning.
Renaissance Global · risk themes across the available quarters.
Research layer active
Bear-case history
Risks carried through the record.
medium
Working capital cycle elongation
Cash conversion cycle has increased due to tariff-related supply chain changes and shift to lab-grown diamonds, pressuring free cash flow.
License brand margin compression
Margins in licensed brands compressed from 14.8% to 13.3% due to exit of fringe licenses and associated costs.