In Q4 2019, early signs of Covid hit China and by Q1 2020 the virus started to spread globally. It was in January 2020 when two entrepreneurs Paulius Stankevicius and Swapnadip Roy connected online and agreed to work together on medical equipment trading.
Roy is a businessman with a financial background and entrepreneur with a large network of connections from different industries. Swapnadip also has a background in the medical and pharmaceutical industries following his family roots.
Early in February 2020 Paulius Stankevicius travelled to Mumbai for business to meet production facility managers in India who were manufacturing masks. Stankevicius is also an entrepreneur with expertise in public relations, advertising and business development who worked with Fortune 500 clientele and also raised capital for clients. Although earlier in his career he developed technology startups, he has always been interested in the trading industry, what he saw as exciting and adventurous.
After Mumbai, in early March, Stankevicius and Roy met in Dubai for the first time where the pair established a medical trading business. Since then, they have managed to acquire a strong international clientele for medical equipment trading from the United States, Saudi Arabia, Canada, Japan, Malaysia, and other countries.
In 2020, as Covid cases soared drastically worldwide, demand for medical equipment such as masks, gloves and other general medical items used in hospitals and pharmacies hit an all time high.
RNR Group was created in 2020 holding five companies under its umbrella including two medical trading companies in Dubai, two general trading companies in the United Kingdom and Russia and one management consulting and procurement company in Dubai.
RNR Group managed to do achieve $15 million in sales over the first 1.5 years in business with a high profitability ratio and is now expanding into retail distribution business with a unique edge of a technology solution, creating a new marketplace platform called RNR Markets for large retail businesses to crosssell goods online. “The ecommerce market in the Middle East is missing improvement and special user experience, and this is a great way to enter global markets as well as to develop our company further,” says Stankevicius, the CFO, who during the first year of the business held the position as Chief Operating Officer. (Roy is CEO).
Pavel Rudanovskiy, a Russian businessman who is currently a Chief Business Development Officer at RNR Group, is also one of the original founders. Gareth Jones who is an English entrepreneur and a businessman also joined RNR Group in the second half of 2021 as VP of client relations and business development.
What is next ?
During 2020 and early 2021, the group has been constantly developing its business model to enable its companies to perform smoother and more efficiently. RNR Group, in one year of business operations, has acquired strong partnerships worldwide from the East and West to the Middle East. RNR Group has established an extremely well managed production and distribution supply chain within the commodity and retail trading market allowing the company to perform extremely well. RNR Group has also established a strong logistics partnership enabling fast shipments worldwide.
What does Q4 2021 and 2022 hold for the RNR Group? The group is aiming for a public listing at globally recognized stock exchanges in the U.S. and possibly China, “but before that there is a lot of work to be done,” says CEO Roy.
CBDO Rudanovskiy adds, “There is no limit for the RNR Group, thinking beyond the box and aiming for higher accomplishments the Group can become the next unicorn.”
RNR Group is now preparing for the next big move with an aim to go into a joint venture with a top European bank by forming a fund of $100 million before going IPO. CBDO Rudanovskiy states, “We could potentially raise over $200 million and go for over a $1 billion unicorn IPO listing.
What is the goal and vision?
RNR Group could potentially become the next large consulting and investment firm focusing on mainstream industries such as trading, finance and technology. There is a list of projects on the Group’s execution list, including the tech based ecommerce marketplace which could potentially become an independent unicorn tech business.
“We want to create a large business covering all major areas, and diversification is extremely important when dealing in global markets,” says Roy. “Covering both offline business industries, such as retail and commodity trading and distribution, and online business industries, like various technology platforms and fintech, we are making sure that the RNR Group’s future is stable and sustainable, and provides healthy returns to our shareholders and investors.”