National News
Senco is gearing up for significant growth; plans to open 20 new stores this year
Senco Gold & Diamonds, one of India’s leading jewelry retailers, is gearing up for significant growth in the fiscal year 2025. The company has announced plans to open 20 new stores this year, aiming for a 20% increase in its topline revenue. This expansion is part of its broader strategy to maintain consistent annual growth while catering to rising consumer demand.These details were provided by Suvankar Sen, MD and CEO of Senco Gold & Diamonds, during an interview with CNBC TV18.
The company experienced a challenging start to FY25, with weak demand for diamond jewelry during the first three quarters due to high gold prices. However, the fourth quarter saw a revival, with increased sales of 14-carat and 18-carat diamond jewelry. Senco Gold also noted that silver sales outpaced both gold and diamonds in volume and value, as consumers increasingly view silver as an investment and gifting option.
Senco Gold has embraced innovation by launching dedicated lab-grown diamond jewelry stores under its sub-brand “Sennes.” According to Suvankar Sen, Managing Director and CEO of the company, lab-grown diamonds are gradually carving out their own market. The company expects these products to gain traction within the next two years, especially in the small-ticket segment catering to everyday wear.
The reduction in gold import duties by 9% provided temporary relief to customers but affected Senco’s profitability in Q2 and Q3. Despite this, the company expects profit margins to stabilize by the end of FY25.
In addition to domestic growth, Senco Gold has ventured into international markets by opening a store in Dubai. This move aligns with its strategy to cater not only to Indian expatriates but also to global consumers who appreciate handcrafted Indian jewelry. The company is also diversifying its product portfolio under the Sennes brand by introducing luxury lifestyle products such as leather bags.
Future Outlook
Suvankar Sen remains optimistic about the future, citing strong demand during wedding seasons and evolving consumer preferences for lightweight, versatile jewelry. The company is also focusing on digital services like virtual try-ons and personalized designs to appeal to younger, tech-savvy customers.
National News
Palmonas Turns An Untapped Gap In Indian Jewellery Market Into a New Category: Platinum Plated Silver
Authentic 925 silver meets the elevated finish of platinum
Palmonas is introducing a new chapter in jewellery with the launch of its Platinum Plated Silver Jewellery Collection, bringing together the authenticity of 925 sterling silver with the elevated appeal of platinum.
While silver has always been a familiar and widely available jewellery category in India, platinum has remained far more exclusive and premium. Palmonas set out to explore what would happen if the two could come together retaining the strength of sterling silver while introducing the bright white, luxurious finish of platinum.
Crafted in 925 sterling silver, each piece is finished with PPS electroplating (Precision Plating System) and platinum plating up to 1 micron. The result is jewellery that combines silver’s authenticity with platinum’s distinctive premium finish, while the protective layer also helps improve resistance to tarnishing and scratches. The collection remains hypoallergenic and suitable for sensitive skin.
For Palmonas, this launch began with a simple question: why should consumers have to choose between the value of authentic silver and a more premium, durable finish? After extensive research, testing and trials, the brand has developed an elevated way to experience silver jewellery.
Featuring over 400 designs across bracelets, necklaces, earrings, rings and anklets, the collection brings this innovation to a wide range of everyday and occasion wear styles.
Pallavi Mohadikar, CEO & Founder, Palmonas, said:
“This collection came from a desire to push the boundaries of what silver jewellery could be. Silver already has authenticity, value and a strong place in the Indian jewellery market, while platinum represents a more premium and elevated finish. We saw an opportunity to bring these two worlds together. After extensive research, testing and trials, we developed a process that allows us to create jewellery that retains the authenticity of 925 sterling silver while offering the distinctive bright white finish of platinum.
This launch reflects our larger approach at Palmonas—to look at familiar categories differently and create innovations that respond to how the modern consumer wants to wear jewellery today’’
With this launch, Palmonas continues its journey of challenging traditional jewellery categories and introducing innovations designed around the evolving needs of the modern Indian consumer.
Palmonas Turns An Untapped Gap In Indian Jewellery Market Into a New Category: Platinum Plated Silver
Manish Malhotra Launches His Fine Jewellery ‘M Collection’ Exclusively On Tata CLiQ Luxury
Priority Jewels Ltd.’s IPO Sees Robust Demand,Bidding Reached 46.73x
GRT Jewellers Bets Big on TBZ to Acquire 74% for ₹1,034 Crore
Palmonas Turns An Untapped Gap In Indian Jewellery Market Into a New Category: Platinum Plated Silver
Priority Jewels Ltd.’s IPO Sees Robust Demand,Bidding Reached 46.73x
-
National News1 day agoGRT Jewellers Bets Big on TBZ to Acquire 74% for ₹1,034 Crore
-
National News4 hours agoPalmonas Turns An Untapped Gap In Indian Jewellery Market Into a New Category: Platinum Plated Silver
-
National News7 hours agoPriority Jewels Ltd.’s IPO Sees Robust Demand,Bidding Reached 46.73x
-
BrandBuzz5 hours agoManish Malhotra Launches His Fine Jewellery ‘M Collection’ Exclusively On Tata CLiQ Luxury
JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.