Mumbai, August 2025: Senco Gold & Diamonds is a leading pan-India jewellery retailer with a legacy of more than eighty-five years and the largest jewellery retail player in Eastern India based on number of showrooms with a whooping count of 186+, introduces Ganesh Chaturthi New Designs and offers to celebrate the festival of birthday of Lord Ganesha, the Lord of knowledge, wisdom, prosperity and good fortune. The festival is also known as Vinayak Chaturthi or Vinayak Chavithi.

The ten-day-long festival is a time of devotion and cultural splendour that brings people together.  It is believed that devotees who pray to Lord Ganesha on this auspicious day can fulfil their wishes and are bestowed with good luck and prosperity.

This Ganesh Chathurthi pays homage to the divine aura with gold and diamond jewellery pieces that will not only heighten your whole look but also symbolise prosperity, where customers can explore a wide range of new designs of Gold, Platinum & Diamond jewellery. The Ganesh Chaturthi collection celebrates tradition with a modern touch.

Commenting on this, Mr. Suvankar Sen (MD & CEO, Senco Gold & Diamonds) said, “Senco Gold & Diamonds is known for its exquisite jewellery collections, which are handcrafted with precision and devotion to detail. The brand’s jewellery is inspired by Indian culture and heritage, and it offers a wide variety of designs and styles to choose from, including traditional, modern, and contemporary. The Ganesh Chaturthi festival holds tremendous significance for devotees across Inia and to celebrate that we have introduced fantastic offers of Rs 100 off per gram on gold rate, upto 35% off on making charges in gold jewellery, upto 10% off on diamond value and upto 25% off on making charges of diamond jewellery, upto 10% off on making charges of silver items, and 0% deduction on old gold jewellery exchange. Special discounts in Sennes (Leather) of upto 15% on diamond value (lab-grown diamond jewellery), and upto 15% discount in the MRP of Leather Bags”.

Commenting on this Mrs. Joita Sen, (Director and Head of Marketing & Design, Senco Gold & Diamonds), said, “August is a month of festivities across India, with Rajasthan, Harryana and Bihar celebrating Teej and Maharashtra observing Ganesh Chaturthi. To celebrate the birthday of Lord Ganesha this year, we have launched new pendant designs crafted in gold and diamonds, each such pendant is designed to be lightweight, sleek, and timeless. The jewellery pieces embody reverence for Lord Ganesha while reflecting contemporary elegance, making them perfect symbols of devotion that fit seamlessly into today’s lifestyle”.

Senco Gold & Diamonds offers extensive jewellery collection, including gold, diamond, silver, platinum, as well as precious and semi-precious stones under brands such as Everlite, focused on lightweight jewellery; Gossip, the silver and costume jewellery brand; and D’Signia, which offers a premium jewellery retail shopping experience to customers. Senco Gold & Diamonds also has an Aham collection of jewellery catering to men and a Vivaha collection, which is a premium designer wedding jewellery range. The Ganesh Chaturthi Offers will be available from August 26-31^st, 2025, at all Senco Gold & Diamonds showrooms and online channels

At 9:10 AM, MCX Gold October 3 contracts were trading 0.27% higher at Rs.100,897 per 10 grams, while MCX Silver September 5 contracts gained 0.31% to reach Rs.1,16,314 per kg.

The uptick follows political and monetary shifts in the United States. US President Donald Trump’s decision to dismiss Federal Reserve Governor Lisa Cook over alleged mortgage borrowing misconduct, coupled with Fed Chair Jerome Powell’s dovish stance at the Jackson Hole Symposium, weighed on the dollar and boosted safe-haven demand.

In his August 22 address, Powell signaled a pivot from inflation concerns to prioritizing the US job market, reinforcing expectations of a potential rate cut in September. Gold responded with a strong rebound, closing 1% higher at $3,372 on Friday and recording a weekly gain of 1.1% as of August 22.

Market analysts suggest that bullion may continue to find support in the near term as investors track global monetary policy signals and geopolitical shifts.

This marks the company’s first institutional fundraise, aimed primarily at scaling its offline footprint across India.

With 25 stores already operating in metro and tier-2 cities, Palmonas now plans to launch 100 company-owned outlets, with a focus on key markets such as Mumbai, Delhi, Bengaluru, Hyderabad, and Pune. The expansion strategy will also explore emerging cities like Aurangabad and Bhagalpur, with 60% of the stores located in malls, 40% on high streets, and a few in airports.

The new capital will also support team expansion and product innovation, particularly in the nine-carat gold segment paired with lab-grown diamonds—a fast-growing category amid surging gold prices and new hallmarking norms.

Palmonas has shown steady financial growth, with revenue increasing from ₹3.83 crore in FY23 to ₹5.38 crore in FY24, though it reported a net loss of ₹1.24 crore.

Prior to this round, Palmonas had raised about ₹7 crore from angel investors and its appearance on Shark Tank India, where it secured investment from Namita Thapar (Emcure Pharmaceuticals) and Ritesh Agarwal (OYO).

The funding comes at a time of increased investor interest in jewellery startups, particularly those innovating in lab-grown and demi-fine segments. Competitors like Aukera, True Diamond, Amama, and Coluxe have also raised capital recently. Meanwhile, larger players such as GIVA, Lalithaa Jewellery Mart, and BlueStone are tapping into the public and private markets to scale operations.