Case Studies | RUNG Strategy

Turning Strategy Into Measurable Success

See how we've partnered with founders and leadership teams to unlock growth, improve performance, and build more valuable businesses.

94% Retail Growth, Zero Added Marketing Spend

Overview

Wave Antiques is a heritage jewellery business with more than 130 years of history and a well-established reputation in both wholesale and retail markets. While the business had a loyal customer base and strong demand, its wholesale division was in decline, limiting future growth and placing increasing pressure on long-term profitability. The leadership team needed a strategy that would protect the existing business while unlocking new opportunities for sustainable retail growth.

The Challenge

The business faced several interconnected challenges:

A declining wholesale operation affecting overall revenue stability.
Strong retail demand that exceeded the company's operational capacity.
Internal processes that limited scalability and created operational bottlenecks.
The need to grow revenue without increasing marketing expenditure.
Preserving the company's heritage while modernising its commercial operations.

Rather than focusing on acquiring more customers, the opportunity lay in improving how the business converted and fulfilled the demand it already had.

Our Approach

RUNG Strategy worked closely with the leadership team to identify the highest-impact opportunities across operations, commercial strategy, and execution.

Our work included:

Protecting and stabilising the wholesale business while developing a long-term transition strategy.
Identifying operational constraints that were limiting retail growth.
Expanding business capacity to better serve existing customer demand.
Streamlining workflows and strengthening operational systems for improved efficiency.
Supporting leadership with strategic planning and prioritisation to ensure sustainable growth rather than short-term gains.
Implementing scalable processes that positioned the business for continued expansion.

By focusing on execution rather than additional marketing investment, the business was able to maximise returns from its existing customer base.

The Results

The transformation delivered measurable commercial outcomes in a relatively short period:

94% year-over-year retail revenue growth in Q2 2026 compared with Q2 2025.
No increase in marketing spend, demonstrating significantly improved operational efficiency and conversion.
Greater organisational capacity to support continued retail expansion.
Stronger operational foundations designed to support long-term growth.
The business is now on track to achieve over 100% year-over-year growth in Q4 2026.